$1,400 loss $1,500 gain $8,500 loss $1,400 gain QUESTION 24 Which of the following is true of goodwill? it may be recorded as an asset even if internally generated, but only if the business has been in operation for ten years or more it may be recorded as an asset only when there is an exchange transaction involving the purchase of an entire business. it should be classified as property, plant, and equipment. it may be amortized even if it has an indefinite le QUESTION 25 When a company pays (think of the journal entry) a previously declared dividend: Stockholders' equity decreases Liabilities decrease Assets decrease Liabilities decrease and assets decrease Click Saw and Submit to sew and submit. Click Save All Arnows to save all camera QUESTION 23 Entity sold a une v-duty, hot pressure washer for $1.500 The pressure washer cost $10,000 new and the related accumulated depreciation was 7,100. What is the amount of gain or loss on the sale? 31.400 $1.500 $8.500 loss $1.400 g