E12-2B (Classification Issues—Intangibles) Presented below is selected account information related to Fryman Inc. at year-end. All these accounts have debit balances. Brand names Music copyrights Film contract rights Customer lists Research and developmen

E12-2B (Classification Issues—Intangibles) Presented below is selected account information related to Fryman Inc. at year-end. All these accounts have debit balances.

Brand names                                     Music copyrights

Film contract rights                            Customer lists

Research and development costs    Prepaid expenses

Covenants not to compete                Goodwill

Cash                                                 Cable television franchises

Notes receivable                               Discount on notes payable

Accounts receivable                        Investments in affiliated companies

Property, plant, and equipment        Organization costs

Land                                                 Internet domain name

Instructions

Identify which items should be classified as an intangible asset. For those items not classified as intangible assets, indicate where each would be reported in the financial statements.