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faust18 [17]
3 years ago
15

I really need to graduate HIGHSCHOOL PLEASE HELP ASAP. In a Chapter 7 bankruptcy, a debtor: A. is required to draw up a petitio

n listing all assets and liabilities. B. does not have to pay a filing fee. C. is absolved of alimony and child support payments. D. does not have to repay educational loans.
Business
2 answers:
Aleonysh [2.5K]3 years ago
8 0

The answer is: A. is required to draw up a petition listing all assets and liabilities.

During bankruptcy, the company need to sell of all of its remaining assets to paid of as much abilities that it can.

Because of this, the government require them to list all of assets and liabilities that it own. This would help the creditors determine whether the company already pay off all of its obligation to its maximum capacity.

Ivenika [448]3 years ago
6 0
A. is required to draw up a petition listing all assets and liabilities.
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In a sales mix situation at any level of units sold net income will be higher if
ArbitrLikvidat [17]
In a sales mix condition at any level of units vended the net income will be higher if more higher contribution margin units are sold than lower contribution margin units. The sales mix is the comparative proportion in which a company vends its multiple goods. In addition, the contribution margin ratio is contribution margin separated by sales.
7 0
3 years ago
Miller Mining acquired rights to a tract of land with the intent of extracting from the land a valuable mineral. The cost of the
ziro4ka [17]

Answer:

depletion expense recognize over the first year: 400,000 dollars

Explanation:

it cost 2,500,000 the right to extract 10,000 tons

To obtain therate we divide the cost over the expected tons of materials

rate per ton:  2,500,000 / 10,000 = 250 dollars

Now we calculate the depletion based on the amount extracted on the first year:

<em>first year extractions: </em>1,600 tons

depletion expense: 1,600 tons x 250 dollars = <em>400,000</em>

<em />

4 0
3 years ago
Free cash flow (FCF) and net income (NI) differ in the following ways:
alexandr402 [8]

Answer:

c.  I, II, and III only

Explanation:

As we know that

Free cash flow = Earnings before Interest and Taxes ×  (1-Tax Rate) + Amortization and Depreciation expense - Change in Net Working Capital -Capital Expenditure

And, the Net income is determined after considering all cash and non cash expenses.

Therefore, I, II and III statements are considered

Hence, the option c is correct

6 0
3 years ago
Riggs Company purchases sails and produces sailboats. It currently produces 1,300 sailboats per year, operating at normal capaci
mr_godi [17]

Answer:

The president of Riggs has missed something.

She should make the Sail instead of buying because its cheaper to manufacture than purchasing it outside.

Explanation:

<u>Cost of Manufacturing the Sails:</u>

Direct materials        $93

Direct Labor              $83

Total                         $173

The president of Riggs has included the $90 overhead  based on $78,000 of annual fixed overhead that is allocated using normal capacity in the cost of manufacturing the sail which is incorrect.

Riggs Company is operating at 80 % of full capacity, hence utelizing the 20% excess capacity would not expand its fixed costs.

Thus said the current fixed cost are irrelevent for this decison and would be incurred whether or not Riggs Company utilizes the excess capacity

<u>Conclusion:</u>

The cost of making the sail is $173 which is lower than the cost of buying them at $ 258.

I would advise The president of Riggs to make the sail by utilizing the excess capacity since its cheaper than purchasing it outside.

5 0
3 years ago
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