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Answer

a)

1 Investment in a subsidiary company. Not an Intangible Asset

2 Timberland Not an Intangible Asset
3 Cost of engineering activity required to advance the design of a product to the manufacturing stage. Not an Intangible Asset
4 Lease prepayment (6 months' rent paid in advance). Not an Intangible Asset
5 Cost of equipment obtained. Not an Intangible Asset
6 Cost of searching for applications of new research findings. Not an Intangible Asset
7 Costs incurred in the formation of a corporation. Not an Intangible Asset
8 Operating losses incurred in the start-up of a business. Not an Intangible Asset
9 Training costs incurred in start-up of new operation. Not an Intangible Asset
10 Purchase cost of a franchise. Intangible Asset
11 Goodwill generated internally Not an Intangible Asset
12 Cost of testing in search for product alternatives Not an Intangible Asset
13 Goodwill acquired in the purchase of a business Intangible Asset
14 Cost of developing a patent Not an Intangible Asset
15 Cost of purchasing a patent from an inventor. Intangible Asset
16 Legal costs incurred in securing a patent. Intangible Asset
17 Unrecovered costs of a successful legal suit to protect the patent. Intangible Asset
18 Cost of conceptual formulation of possible product alternatives. Not an Intangible Asset
19 Cost of purchasing a copyright. Intangible Asset
20 Research and development costs. Not an Intangible Asset
21 Long-term receivables. Not an Intangible Asset
22 Cost of developing a trademark. Not an Intangible Asset
23 Cost of purchasing a trademark. Intangible Asset

b)

1 Investment in a subsidiary company. Long Term Investments

2 Timberland Property, plant& Equipment
3 Cost of engineering activity required to advance the design of a product to the manufacturing stage. R& D Expense (development)
4 Lease prepayment (6 months' rent paid in advance). Lease Prepaid Expense
5 Cost of equipment obtained. Equipment-Asset
6 Cost of searching for applications of new research findings. R& D Expense (research)
7 Costs incurred in the formation of a corporation. Expense
8 Operating losses incurred in the start-up of a business. Operating loss
9 Training costs incurred in start-up of new operation. Expense
11 Goodwill generated internally Not Recorded
12 Cost of testing in search for product alternatives R&D Expense
14 Cost of developing a patent R&D Expense
18 Cost of conceptual formulation of possible product alternatives. R&D Expense
20 Research and development costs. R&D Expense
21 Long-term receivables. Long Term Investments
22 Cost of developing a trademark. Expense

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