Case summary:Student loan debt has reached its peak with an amount of $1.2trillion outstanding amount. This sector accounts for the highest delinquency among all forms of debts. Approximately about 20 percent are in default. Governments are seeking plans to counter this problem. The U.S. Department of Education has decided to collect the debt in three ways.
To explain: The grounds for discharge of student loan under the Bankruptcy Code.
Case summary: Student loan debt has reached its peak with an amount of $1.2trillion outstanding amount. This sector accounts for the highest delinquency among all forms of debts. Approximately, about 20 percent are in default. Governments are seeking plans to counter this problem. The U.S. Department of Education has decided to collect the debt in three ways.
To explain: The argument to allow the discharge of student loan.
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Chapter 15 Solutions
The Legal Environment of Business: Text and Cases
- Answer this general accounting questionarrow_forwardDJ Chase carries portfolios of both trading securities and available-for-sale securities. At the end of 2018 and 2017, the trading securities were valued at $468.4 billion and $595.6 billion, respectively; and the available-for-sale securities were valued at $205.9 billion and $85.4 billion, respectively. Together, the investments comprise about 25 percent of the company's total assets as of December 31, 2018. Unrealized gains reported on the 2018 income statement totaled $9.9 billion. Trading securities are carried on the balance sheet at market value. Compute the net decrease in the investment in trading securities during 2018.arrow_forwardPlease provide this question solution general accountingarrow_forward
- Provide answer general accountingarrow_forwardOn January 1, 2021, Nohara Inc, had cash and share capital of Yen 60,000,000. At that date, the company had no other asset, liability, or equity balances. On January 2, 2021, it purchased for cash Yen 20,000,000 of equity securities that it classified as non-trading. It received cash dividends of Yen 4,500,000 during the year on these securities. In addition, it has an unrealized holding gain on these securities of Yen 6,500,000 net of tax. Determine the following amounts for 2021: a) Net income. b) Comprehensive income. c) Other Comprehensive Income, and d) Accumulated other comprehensive income (end of 2021).arrow_forwardCORRECT ANSWER✅arrow_forward
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