To which of the following parties must the preliminary notice or notice of claim be given?
A) Property owner
B) General contractor
C) Construction lender
D) All of the above
D
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In January 2014, Shone Company exchanged an old machine, with a book value of $156,000 and a fair value of $140,000, and paid $40,000 cash for a similar used machine having a list price of $200,000 . The exchange had commercial substance. At what amount should the machine acquired in the exchange be recorded on Shone's books?
a. $200,000 b. $196,000 c. $184,000 d. $180,000
Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $93,000. The machine's useful life is estimated to be 20 years, or 390,000 units of product, with a $7000 salvage value. During its second year, the machine produces 15,600 units of product. Determine the machines' second year depreciation under the straight-line method.
A. $4300. B. $4650. C. $5000. D. $3440. E. $3720.
With some exceptions for certain industries, public employers may not use random drug-testing because:
a. of their union collective bargaining agreement b. it violates the U.S. Constitution's 4th amendment c. it is unfair d. none of these; public employers may use random drug-testing
George offered to paint Catherine's barn for $4,000. Catherine said she would accept the offer if George would paint the woodshed, too. At this point, they have made a valid and enforceable contract
Indicate whether the statement is true or false