Intangibles_Capitalization of Costs

Question 1

should record as assets

Answer 1

intangible assets acquired from other enterprises or individuals in arm’s length transaction

Question 2

cost of intangible assets measured by

Answer 2

1) amount of cash disburse or the fair value of other assets distributed
2) pv of amounts to be paid for liabilities incurred
3) fv of consideration received for stock issued

talking about good will = cost of group of assets acquired - (costs of identifiable assets acquired - liabilities assumed)