Disney incurred organization costs of $10,000 at the beginning of its first year of operations. How should Wind treat the organization costs in its financial statements in accordance with GAAP? Never amortized. Expensed immediately. Amortized over 180 months Amortized over 40 years. Question 7 1 pts Tobin Corporation purchased a limited-life intangible asset for $225,000 on May 1, 2014. It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2016? O $60,000 O $45.000 O $ -0- O $67.500 Question 8 1 pts Kent Company acquired Devon Company on January 1, 2016 for $3,600,000 and recorded goodwill of $400,000 as a result of that purchase. At December 31, 2016, Kent estimated that Devon had a fair value of $3,000,000. The net identifiable assets of the Devon (excluding goodwill) had a book value of $2,700,000 at that time. What amount of loss on impairment of goodwill should Kent record in 2016? O $ 900,000 $300,000 O $100,000 $