declines primarily 10. Straight-line amortization emphasizes that the service value of the asset declines pri a function of A. maintenance policies. time. C use D. obsolescence. 11. On January 1, 2014, Sea Inc, purchased 40% of Gull Corporation for $30,000. At that time, Gull's owners' equity was $4,000, and Gull had the following assets with fair values exceeding book value by the following amounts: Land $20,000 Buildings 30,000 (10 years life remaining) Patent 10,000 (5 years life remaining) Gull earned $10,000 in 2014 and paid $20,000 in dividends. What is the 2014 ending balance in the Investment in Gull account? A. $26,000 B. $24,000 C. $40,000 D. $32,000 12. Refer to multiple choice question #11. What was the goodwill on acquisition A. $4,400 B. $6,000 C. $1,600 D. $3,200 Invest Alc 253 25