A company reported the following information:
Salaries payable, December 31, 2020$20,000
Salaries payable, December 31, 201915,000
Salaries expense for 202080,000
How much cash was paid for salaries during 2020?
A. $60,000
B. $65,000
C. $75,000
D. $85,000
Answer: C
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A 60-day note that is dated June 23 will have a maturity date of August 23
Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
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Assume that the state of Ohio passed a hazardous waste statute, seeking to protect the general public and workers. The state statute did not violate the Commerce Clause because it imposed no restriction on interstate commerce. Both the state statute and
the federal Occupational Safety and Health Act established job safety standards and specified worker training and employer licensing, but the requirements differed. Discuss which statute(s) Ohio corporations had to obey, and identify the source of the answer.