Answer:
Correct answer is (c). bring civil suits under the Alien Tort Claims Act
Explanation:
Alien mean foreign national.
Alien Tort Claims Act (ATCA), also known as Alien Tort Statute, originated from U.S. under a provision of the Judiciary Act of 1789. The law grant U.S. federal courts original jurisdiction over any civil action brought by an alien for a tort in violation of international law or a U.S. treaty.
Answer: $10,000
Explanation:
When a Creditor relies a debtor of the obligation to pay back a debt (Debt cancellation), this is treated as income.
This income is quite taxable and must be reported on the Tax return of the year that it was forgiven.
Marie should therefore report the entire amount forgiven which was the whole amount of $10,000 in her Tax return for 2019 even though she has received no income from it.
The journal entry made by Tubman to record the dishonored note is Debit accounts receivable-Valley spa $9,120, Credit interest revenue $120; credit notes receivable $9,000.
<u>Journal Entry for dishonor of notes receivable:</u>
<u>Account title and explanation</u> <u>Debit</u> <u>Credit</u>
Accounts receivable-Valley Spa $9,120
Interest revenue [$9,000 x 8% x (60/360)] $120
Notes receivable $9,000
- A note receivable is a written agreement to pay a specific sum of money to another party on one or more dates in the future. The holder of the note views this as an asset. In order to give the debtor more time to pay, past-due accounts receivable are occasionally changed into notes receivable. These notes occasionally also include a personal guarantee from the debtor's owner.
- The party obligated to send money to the payee is known as the maker, and the party receiving payment under the terms of the note is known as the payee. The principle is the amount of the payment that is required, as specified in the terms of the note. On the date the note matures, the principal is to be paid.
Learn more about Notes receivable, here
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Answer:
Constant, i.e. it will not change.
Explanation:
Here, we can apply the law of demand which states that, holding every other things constant, the higher the price the lower the quantity demanded, and vice versa.
If the total quantity of garbage disposes by each household is considered as the quantity demanded, we can easily examine the effect of changing from fixed weekly fee of $6 for garbage collection to a variable cost which is tags cost $2 each.
Since the the average household disposes of three cans of garbage per week under the $6 fixed cost plan, a change to a $2 per tag for each can of garbage will still give an average of $6 (i.e. $2 multiply by an average of 3 cans of garbage per week) to dispose an average of three cans of garbage weekly.
Since there seems to be no change in the cost of disposing an average of three cans of garbage weekly, the total quantity of garbage collected in the city will be constant, i.e., it will not change.