Temporary difference; taxable income given LO1 Alvis Corporation reports pretax accounting income of $400‚000‚ but due to a single temporary difference‚ taxable income is only $250‚000. At the beginning of the year‚ no temporary differences existed. Required: 1. Assuming a tax rate of 35%‚ what will be Alvis’s net income? 2. What will Alvis report in the balance sheet pertaining to income taxes? Solution: Requirement 1 Since taxable income is less than pretax accounting income‚ a future
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However‚ almost every income earner has to pay federal income tax. An income tax is a tax levied on the financial income of persons‚ corporations‚ or other legal entities. Various income tax systems exist‚ with varying degrees of tax incidence. Income taxation can be progressive‚ proportional‚ or regressive. When the tax is levied on the income of companies‚ it is often called a corporate tax‚ corporate income tax‚ or profit tax. Individual income taxes often tax the total income of the individual‚
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institutional discrimination‚ contextual discrimination‚ and pure justice. No matter how you try to twist these terms there are still considered as discrimination. Institutionalized Discrimination concerns disparities in result than through policies. The main element of institutionalized discrimination is result; not race. Contextual Discrimination is discrimination that is found in some places at certain times‚ and in some contexts. Systematic Discrimination occurs when a particular race‚ gender‚ age‚
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Differences between Basketball and Baseball Sports have been around for hundreds of years. Currently two of the most popular sports in America‚ are baseball and basketball. Both have been played in America for over 100 years Baseball began in England in 1744. Basketball originated in 1891 in Springfield‚ Massachusetts. The differences between Basketball and Baseball include their uniforms‚ the equipment they use‚ and the offensive and defensive format. The first difference between baseball and
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Differences between Mandarin and English Mandarin‚ known by many for being one of the most difficult languages in the world‚ is my mother language. Born in China eighteen years ago‚ I was raised in a Mandarin-speaking environment. Both of my parents have been speaking to me in Mandarin ever since I was a child. Mandarin is the language I usually spoke when I was in China and even in here I speak Mandarin with my Chinese friends. Studying the first language is a slow and natural process which is
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DIFFERENCES BETWEEN THE TWO GENDERS Men and women differ in many ways. The basic knowledge known by all people is that gender differences differ only in physical appearances and culture. For example men are usually taller than women or as some cultures differ a women has to be as good as men to survive in this world. But the correct way of putting a differentiation between these two genders are the differences not only physically but in aptitude‚ skill and behavior. The fact goes on about how women
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What is the difference between a curriculum vitae (CV) and a resume? Answer: The primary differences between a resume and a curriculum vitae (CV) are the length‚ what is included and what each is used for. A resume is a one or two page summary of your skills‚ experience and education. While a resume is brief and concise - no more than a page or two‚ a curriculum vitae is a longer (at least two pages) and more detailed synopsis. A curriculum vitae includes a summary of your educational and academic
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virtue is. Thus‚ among these swarms of the definition given by Meno what is their common nature? It seems that Meno cannot arrive at the answer. Our question then for Socrates is this: if he cannot adequately define virtue himself‚ what are the variables that make it
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The difference between plant and animal comes down to cell structure. Animal cells do not have cell walls and have different structures than plant cells. Plant cells only are in rectangular shapes but animal cells are either circular‚ irregular or defined shapes depending on the type of cell. Plants have 3 basic organs; roots‚ stems‚ and leaves. Plants lack a brain and all the organs that animals have to carry out metabolic functions as animals take their carbon from organic substances and plants
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The Difference Between Art and Design. The subject of what separates art and design is convoluted and has been debated for a long time. Artists and designers both create visual compositions using a shared knowledge base‚ but their reasons for doing so are entirely different. Some designers consider themselves artists‚ but few artists consider themselves designers. So what exactly is the difference between art and design? In this post‚ we’ll examine and compare some of the core principles of each
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