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mel-nik [20]
3 years ago
12

Ralph Young was a commercial tour boat operator on the northern coast of Kauai, Hawaii. He was licensed by the state of Hawaii t

o operate his boat in Hanalei Bay. The U.S. Department of Transportation and the U.S. Coast Guard had also specifically granted Young an unrestricted license to operate his boats in Hanalei Bay. Hawaii subsequently passed a law that banned all commercial use of Hanalei Bay. The state refused to renew Young's state license and he was not allowed to operate his vessel under his federal licenses. Young filed a lawsuit against the state alleging that the state law that prohibited him from operating his boat conflicted with the federal law that authorized him to do so. What would be the court's most likely response to Ralph's lawsuit?
a. The court probably found that the state law was unconstitutional under the supremacy cause.
b. The court probably found that the state law was unconstitutional under the equal protection clause.
c. The court probably found that the state law was constitutional under the supremacy cause.
d. The court probably found that the state law was constitutional under the due process cause.
Business
1 answer:
Y_Kistochka [10]3 years ago
7 0

Answer:

The correct answer is option (a) The court probably found that the state law was unconstitutional under the supremacy cause.

Explanation:

Solution

From the given questions it states that, What would be the court's most likely response to Ralph's lawsuit.

The court's decision response would be that, I that when the situation arises or occurs in that case, where there is a conflict which arises between federal and state law then in that case federal law must be applied.

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The following is the ending balances of accounts at December 31, 2018 for the Valley Pump Corporation Account Title Cash Account
Art [367]

Answer and Explanation:

The preparation of the classified balance sheet is presented below:

<u>Valley Pump Corporation</u>

<u>Balance sheet</u>

<u>December 31, 2018</u>

Assets

Current assets

Cash                                    $30,000              

Marketable securities           $27,000

Account receivable             $61,000

Inventory                               $91,000

Prepaid expense                   $37,000

Investments

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Land                               $25,000   $52,000

Property, plant & equipment

Land                           $105,000

Buildings                    $325,000

Equipment                  $85,000

Less:

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Net property, plant & equipment     $380,000

Intangibles

Copyright                                          $17,000

Total assets                                      $695,000

Liabilities & shareholder equity

Current liabilities

Account payable                        $70,000

Interest payable                          $15,000

Unearned revenue                     $25,000

Note payable                              $110,000

Current maturities                      $55,000

Total current liabilities                $275,000

Long term liabilities

Note payable                               $110,000

Shareholder equity

Common stock           $250,000

Retained earnings      $60,000

Total shareholder equity               $310,000

Total liabilities & shareholder equity $695,000

Working notes

Accumulated depreciation = building + equipment

= $105,000 + $60,000

= $695,000

The note payable is

= $55,000 × 2

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12.7%

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