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 taxable amount will occur when the temporary difference reverses. This means a deferred tax liability should be recorded to reflect the future tax consequences of the temporary difference. ------------------------------------------------- -------------------------------------------------
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Class debate 1. Should we outlaw tobacco ads in the US? 2. Yes‚ we should outlaw tobacco ads in the US 3. We should outlaw tobacco ads for a few reasons. Promoting public health is a very important because nearly 1000 people die every day as a result of smoke inhalation. 70% of respiratory or lung cancer are attributed to smoke inhalation. Tobacco adds influence younger age groups by making the drug seem like something that they should partake in. The younger people begin to smoke the
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Rich people should not be taxed more for making a lot of money. Doing so would basically discourage big entreprenuership and would make rich people feel like they are being punished for making big bucks. Taxing rich people more is not fair. The 14th amendment says we have equal protection under the law ‚ so in turn would mean everybody should be taxed at the same rate as the next guy. It would be illegal to tax the wealthy more. US citizens should all have the same percentage of taxation. If everybody
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Tax a compulsory contribution to state revenue‚ levied by the government on workers’ income and business profits or added to the cost of some goods‚ services‚ and transactions. People pay taxes every time they get a paycheck. They pay taxes for social security and medicaid. There are many advantages and disadvantages to paying taxes. Some advantages of paying taxes are control inflation ‚ discourage use of harmful products‚ revenue generation ‚ redistribution of income. The primary job of the
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whether cigarettes and other tobacco products should be banned. Those who oppose the ban argue that adults have the rights to decide whatever they consume. On the contrary‚ those who support the ban cite the negative implications of smoking‚ which include health issues. Diseases such as cancer have been associated with the use of tobacco products. Currently‚ thousands of people in the United States die annually because of diseases that are related to the use of tobacco products. Additionally‚ millions
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Alcohol is an ingredient that is found mostly in wine‚ beer‚ liquor and some other drinks. It’s also a drink that could slow down the body vital because it does not have any nutrients that is useful or beneficial for the body system. Alcohol overdose most a times causes even more serious depressant effects that affect we as human and our body system is at risk‚ although these reactions mainly depends on the quantity we consume on daily basis. Alcohol is mostly absorbed into our bloodstream via the
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Medical marijuana‚ and just plain marijuana should be illegal in all of the United States because it is a very hazardous and toxic drug. According to Peter Bensinger a co-author of “Marijuana: A Reference Handbook” says that‚ “marijuana has 468 different and toxic chemicals‚ causing a 40% increase to more cancer causing than tobacco cigarettes‚ and four times the tar of tobacco cigarettes.” And then New York Times argues that‚ “stems from the fact that many otherwise law-abiding citizens use marijuana
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Climate change needs to be addressed‚ but who should pay? Discuss. Table of Contents Changing climate causes an imbalance in the nature and its natural equilibrium. The recent events in Acapulco‚ Mexico are just an example of the impact the climate change has on the whole earth. People are left with nothing but themselves and need help and support from the government and are very grateful for help offered from donators from all over the world
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MaAssignment 1 Title: Marriage and Taxes Introduction: Bill and Mary plan to marry in December of 2012. Bill’s salary is $32‚000 and he owns a residence. His itemized deductions total $12‚000. Mary’s salary is $39‚000. Her itemized deductions total only $1‚600 as she does not own a residence. Assume that 2013 tax rates‚ exemptions‚ and standard deductions are the same as 2012. Task(s): Answer the following questions: a. What will their tax be if they marry before year-end and file a joint
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________________________________________ Absorption Alcohol is absorbed from all parts of the gastrointestinal tract largely by simple diffusion into the blood. However the small intestine is by far the most efficient region of the gastrointestinal tract for alcohol absorption because of its very large surface area. In a fasting individual‚ it is generally agreed that 10% to 20% of a dose of alcohol is absorbed from the stomach (the volume of alcohol affects the absorption) and 75% to 80% is absorbed
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