Samuel is having financial troubles. He owes a significant amount of money to his ex-wife for child support payments, he is also behind on his student loans and has not paid his taxes for the last five years
Sam is considering filing for personal bankruptcy. Why might this not be a wise financial decision for him?
Answer: This would not be wise decision because none of his listed debt: child support, student loans and back taxes are dischargeable through a bankruptcy filing. He cannot get away from paying these debts.
You might also like to view...
Older electrical transformers may contain ___, which can produce dangerous chemicals in an electrical fire.
a. PCBs (polychlorinated biphenyls) b. ground fault circuit interrupts c. cogeneration packets d. fuses
Assume the parent owns 90% of the subsidiary and has an adjusted internally generated net income of $100,000 and 5,000 shares of common stock outstanding
Also assume the parent has dilutive bonds outstanding that are convertible into 2,000 shares of common stock and the interest paid on these bonds was $4,000 . What is the consolidated diluted earnings per share (DEPS) if the subsidiary data include: 3,000 shares of common stock, 150 shares of convertible bonds that are held by parent, 5 shares of common stock that are from convertible bonds outstanding by subsidiary and subsidiary diluted earnings per share of $ 6.88. a. $ 20.80 b. $ 25.48 c. $ 18.25 d. $ 14.86