E12-5(CorrectIntangible Asset Account)As the recently appointedauditor for Hilla

E12-5(CorrectIntangible Asset Account)As the recently appointedauditor for Hillary Corporation you have been asked to examineselected accounts before the 6-month financial statements of June30 2012 are prepared. The controller for Hillary Corporationmentions that only one account is kept for intangibleassets.