If an owner of real property fails to pay property taxes, the government can obtain a lien on the property for the amount of the taxes
Indicate whether the statement is true or false
TRUE
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Corbin Company has two checking accounts. A special account is used for the weekly payroll only, and the general account is used for all other disbursements. Every week, a check in the amount of the net payroll is drawn on the general account and deposited in the payroll account. The company maintains a $5,000 minimum balance in the payroll account. On a monthly bank reconciliation, the payroll
account should a. reconcile to $5,000. b. show a zero balance per the bank statement. c. show a $5,000 balance per the bank statement. d. be reconciled jointly with the general account in a single reconciliation.
Merchandise subject to import ______ can be on the dock of an American port awaiting clearance through customs, but if the ______ fills anywhere during the wait, those goods cannot be imported for the rest of the fiscal year.
Fill in the blank(s) with the appropriate word(s).
On January 1, Year 1, Milton Manufacturing Company purchased equipment with a list price of $27,000. A total of $2000 was paid for installation and testing. During the first year, Milton paid $3000 for insurance on the equipment and another $600 for routine maintenance and repairs. Milton uses the units-of-production method of depreciation. Useful life is estimated at 100,000 units, and estimated salvage value is $4000. During Year 1, the equipment produced 14,000 units. What is the amount of depreciation for Year 1?
A. $4480 B. $4004 C. $3500 D. $3920
GreatGro, Inc, makes genetically modified seeds with properties that are iden-tical to Hearty Harvest Corporation's patented seeds, without Hearty Harvest's permission. This is most likely A) copyright infringement
B) patent infringement. C) trademark infringement. D) not infringement.