1. Find 4% of 3800: 152
2. 3800-152
3. James will have $3648 available for the down payment after the 5 years.
Answer:
1. Bankruptcy law is primarily state law. b. False
2. The <u> </u><u>federal </u> government is given the power to establish bankruptcy laws in Article I, Section 8 of the <u> U.S constitution</u>. The purpose of bankruptcy law is to protect the <u> debtor </u> by giving him or her a fresh start and to ensure <u>equitable</u> treatment of the <u> </u><u>creditors</u>.
Fill in the blanks with words that would best complete the passage.
equitable federal debtor perfect state assets state constitutions creditors U.S. Constitution
3. Bankruptcy proceedings are held in <u> federal bankrupcy courts</u>.
4. Title <u> 11 </u>of the United States Code contains the Bankruptcy Code.
5. The Bankruptcy Code has several chapters. Chapter <u> 7 </u>provides for liquidation proceedings, Chapter <u> 11 </u>governs reorganizations, and Chapter <u>13</u> provides for an adjustment of debts for individuals with regular income.
6. In order to obtain bankruptcy relief a debtor must be insolvent, or unable to pay his debts. b. False
7. Consumer-debtors are those whose debts result from the purchase of goods for <u> personal</u> use. The Bankruptcy Code<u> </u><u>requires</u> that court clerks provide additional<u> information </u>to consumer-debtors when they file for bankruptcy.
Answer:
Please find the explanation below. Thanks.
Explanation:
Journalistic approach is a writing approach that helps to develop information about a topic very quickly and easily. This is because the journalist asks 6 very important questions for which if answered, could speed up a writing.
A journalist usually asks 6 questions and they are: who? What? Where? How? When? Why?
When each of these questions are answered about a topic of writing, it becomes easy to build up the write-up.
For example, Who? Usually answers the questions: Who are the involved individuals? Who is affected? Who are the main persons? Who are the supporting persons?
What? On the other hand answered the question: What is the topic? What is the significance of the topic? What is the basic problem? What are the issues related to that problem?
All other questions asked by the journalist as long as it addresses the aspect of the topic that it should address, then the topic is as good as formed.
Cheers.
<u>Answer:Option C </u>Paid-In Capital in Excess of Par will be credited for $66,000
<u>Explanation:</u>
Given
No of shares 1,500
Par value $6
Common stock $75,000
Par value of stock = No of shares x Par value
=1500 x 6
=9,000
Excess paid in capital = Common stock - Par value
=75000-9000
=$66,000
So the Paid in capital which is excess of par value will be credited. It can also be termed as the market value of the shares. Par value will be mentioned in the share document. When there is additional paid in capital it is a credit balance in company accounts.