...Assignment The Garvey Corporation, a C corporation, during its first five years of operation, reported the following taxable incomes (losses): Year | Taxable Income | Effective Tax Rate | | | | 1 | $ 60,000 | 25 % | 2 | 20,000 | 20 | 3 | (90,000) | - | 4 | 30,000 | 15 | 5 | (40,000) | 18 | Required: a. Explain the net operating loss provisions of the tax code as they would relate to the Garvey Corporation. Corporate tax law allows for a recovery of taxes paid in prior years before a loss year. The amount can be immediately refunded by offset ting against prior profitable years. NOL can be elected to carry forward . A tax loss in any given year can be carried back to offset taxable income. b. Determine the tax liability for the Garvey Corporation for years one and two. 60,000x25%=15,000 20,000x20%=4,000 c. Determine the income tax refund that Garvey Corporation would realize in year three, assuming the corporation elected to use the carryback provision for its net operating loss. 60,000+20,000= 80,000 loss for previous two years 90,000-80,000=10,000 The remaining would carry forward to the next profitable year. Yr 1- 60,000-60,000=0 refund of 15,000 for previous paid income taxes Yr 2 – 20,000-20,000=0 refund of 4,000 for paid income taxes The income tax refund would be 19,000 d. Determine the required income tax payments for year four. 30,000-10,000=20,000 x 15%=3,000 The 10,000 unused NOL from yr 3 is carry forward. Now the total NOL 90,000 is...
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...Sihanouk’s Kingdom of Cambodia: King Norodom Sihanouk wanted Consolidate/Retain Power -Khmer Republic: General Lon Nol = Attain/Maintain Power -Communist Party of Kampuchea: Pol Pot = Overthrow Khmer Republic 2. Sihanouk Policy (foreign and Domestic) -Cambodia foreign policy was based on Neutrality (non-alignment) within the region -Sihanouk received large amounts of aid from the USA *-Sihanouk maintained strong relations with China and Vietnam +Did not believe US could win the war, and thus: -Did not want to align with a loser -Did not want to upset with eventual winner (vietnam) +Cambodia Domestic Politics became polarized among classes: -King Sihanouk Urging to retain power -Communist Party of Kampuchea (CPK – Khmer Rouge) led insurgency against the government. 3. Conference in Bandung: -29 countries, mostly newly independent, representing 25% of the planet and 1.5 billion people -the conference’s stated aims were to: +Promote Afro-Asian economic and cultural cooperation +Oppose colonialism or neocolonialism by the either the United States or the Soviet Union in the Cold War, or any otherImperialistic nations. -The conference was an important step toward the formation of the Non-Aligned Movement (Neutrality) -Event attended by Cambodia’s King Sihanouk 4. Destabilizing force in Cambodia: A. International: -US support General Lon Nol -China support Khmer rough -US used “strategy bombing” ( Hochiminh Trail) -Cambodia receives aids from the US...
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...Marcus Garvey on Race During the 1920’s, Marcus Garvey created the Universal Negro Improvement Association (UNIA) that thrived on racial purity and nationalism. Though he had many enemies, especially those of his own race, Garvey was determined to create a country for Black people to improve the lives of Blacks globally. He was compelled to form this organization through experiencing racism and taking note of the racial inequalities all over the world. Earlier, race didn’t have a meaning until Garvey turned fourteen. At the age of fourteen, Garvey and his white playmate were separated by her parents. They called him a “nigger” and separated them for life. After experiencing racism first hand, Garvey realized different races have their own and distinct social lives. The differences between races were further clarified after the...
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...In contrast to the solid economic foundation in Cambodia, the political framework was unstable. The government faced erratic government policies and was and was ruled by unpredictable leadership. In 1863, some of the struggles ended when France took over and created its protectorate. Cambodia regained its independence in 1953 from France, while Prince Norodom Sihanouk continued to rule the country as an autocracy until 1970. He was eventually overthrown in 1970 by his prime minister, General Lon Nol and a military government was established. As a reaction to the military rule of Lon Nol, the Khmer Rouge (Red or Communist Cambodians), which were a small group of revolutionaries, waged a war with the army until 1975. Cambodia is located in southeastern Asia where it borders Thailand, Laos, and Vietnam. In addition, Cambodia is a worldwide export business that exports items such as rice, cotton, and rubber. The Cambodian official language is Khmer, which is the oldest language with written record of any Southeast Asian language in stone inscriptions dating back to the seventh century. The language contains 66 consonant symbols, 35 vowel symbols, 33 superscripts, and 33 subscripts. For that, Khmer is a very hard and complex written language. Historically, Cambodia was conquered by France. At that time, only the elite people were offered a higher education with the French. Only the poor or rural people used the Khmer language. After 1979 and the end of Pol Pot’s rule, Khmer...
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...Marcus Garvey Marcus Mosiah Garvey, Jr.,Order Of National Hero(ONH) (17 August 1887 – 10 June 1940) was a Jamaican publisher, journalist, entrepreneur, and orator who was a staunch proponent of the Black Nationalism and Pan-Africanism movements, to which end he founded the Universal Negro Improvement Association and African Communities League (UNIA-ACL). He founded the Black Star Line, part of the Back-to-Africa movement, which promoted the return of the African Diaspora to their ancestral lands. Prior to the twentieth century, leaders such as Prince Hall, Martin Delany, Edward Wilmot Blyden, and Henry Highland Garnet advocated the involvement of the African Diaspora in African affairs. Garvey was unique in advancing a Pan-African philosophy to inspire a global mass movement and economic empowerment focusing on Africa known as Garveyism. Promoted by the UNIA as a movement of African Redemption, Garveyism would eventually inspire others, ranging from the Nation of Islam to the Rastafari movement (which proclaims Garvey as a prophet). The intent of the movement was for those of African ancestry to "redeem" Africa and for the European colonial powers to leave it. His essential ideas about Africa were stated in an editorial in the Negro World titled “African Fundamentalism” where he wrote: “ Our union must know no clime, boundary, or nationality… to let us hold together under all climes and in every country… ” Marcus Mosiah Garvey, Jr. was born in St. Ann's Bay, Jamaica...
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...“high school training should be adequately provided for all” this is most likely directed towards the government for support and funding on the matter. Which is typical the niagara movement because despite having vast numbers of people in their movement they suffered from lack of funds. Furthermore booker t Washington undermined the movement, insuring that it received no publicity in the black press this shows a clear divide between the leaders. Source 4 supports the the interpretation because Garvey shows a completely different approach to the problem. Garvey suggests that blacks should return to Africa, “with a view to establishing a Nation in Africa” clearly stating that blacks should go to Africa and “develop themselves” in other words self help as Marcus Garvey believed that Blacks should not receive help of whites until they were equal. This shows a clear bridge between source 3 and and source 4. In source 3 the Niagara movement want help from whites where as in source 4 Garvey doesn’t want help but for blacks to look after them selves and work for them selves. This is clear that these two groups are divided....
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...Chapter 21: The Roaring Life of the 1920s Section 1: Changing Ways of Life I. Rural and Urban Differences A. Between 1922 and 1929, migration to the cities accelerated, with nearly 2 million people leaving farms and towns each year (small town values change) 1. City dwellers judged one another by their accomplishments more often than their background a. City dwellers tolerated drinking, gambling, and casual dating (shocking and sinful in small towns) 2. Cities could be impersonal and frightening b. Life was fast paced and neighbors were not as neighborly B. Prohibition: the manufacture, sale, and transportation of alcoholic beverages were legally prohibited 3. 18th Amendment: ratified Jan, 1919 and repealed by the 21st Amendment in Dec, 1933 C. Positive Opinions/Results of Prohibition: 4. Progressives wanted it banned to stop family violence, crime, and poverty c. Support for prohibition was found in the rural native-Protestant dominated West and South d. The church-affiliated Anti-Saloon League led the drive to pass Prohibition e. Woman’s Christian Temperance Union considered drinking a sin 5. WW I reformers advocated prohibition as a war measure f. People were concerned that many German Americans owned many of the brewers g. Drinking reduced the efficiency of soldiers and workers 6. Learned we must...
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...man who was just trying to make it in America. Being an African American man in America was not something that was considered a simple task without obstacles and Myers illustrated this theme throughout the text by using Malcolm's and other African American character’s personal experiences. The author states, “It was after a particularly frightening threat that Earl Little moved his family from Omaha to Milwaukee, Wisconsin (Myers, Walter Dean 15).” Right out the gate, Myers shows the reader how cruel the treatment that Malcolm and many other African American received by mentioning how Malcolm and his family were forced to move out of their city due to dangerous threats and discrimination his father received for preaching the ways of Marcus Garvey. Myers also writes, “Malcolm and his brothers and his brothers and sisters stood outside the house on the cold November night while the house burned to the ground (Myers, Walter Dean 18).” Many African Americans were stripped of a lot of opportunities to strive, sometimes just because they face so much discrimination that they gave up. This is a personal battle Malcolm himself faces as the text develops. The times are very confusing and are a big factor why the theme is so important, Blacks and Whites are finally living amongst each other but the lack of willingness from some of the White communities and powers cause many growing pains that the blacks have to shoulder. Myers depicts Malcolm’s struggle alongside the struggle of the average...
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...Marcus Garvey was a Jamaican-born black nationalist who created a 'Back to Africa' movement in the United States. He became an inspirational figure for later civil rights activists. Marcus Garvey encouraged African people around the world to be proud of their race and to see beauty in their own kind. A central idea to Garveyism was that African people in every part of the world were one people and they would never advance if they did not put aside their cultural and ethnic differences and contrast. He led a movement that articulated a distinctively nationalist approach to African American identity and politics. This movement, which he founded, was called the Universal Negro Improvement Association (UNIA). The Universal Negro Improvement Association is dedicated to racial pride, economic self-sufficiency, and the formation of an independent black nation in Africa. It is an educational, institutional, constructive, and expansive association that does its work to uplift the people of African Ancestry of the world. I think that what the Universal Negro Improvement Association stands for is relevant today. Just like during Garvey’s travels he believed that uniting the ‘blacks’ was the only way to improve conditions. If they just come together and fight with love, faith, and charity they can accomplish what is needed and would be blessed. Oppressing the weak will only lead to confusion and further turmoil. Present day there are still minority groups who are being taken advantage...
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...The Harlem Renaissance The end of World War I set up conditions for a new culture to emerge. Due to the abundance of jobs the war created, many African-Americans moved to the northern cities. In fact, so many of them moved up north, they created strong African-American communities, including Harlem in New York City. During the 1920’s, Harlem became the Mecca of Black culture and was home to many talented individuals from all fields. Roughly lasting from the end of World War I to the stock market crash in 1929, the Harlem Renaissance was the time period in which black literature was first taken seriously and published by mainstream companies. Even though the Harlem Renaissance focused mainly on literature, it is also strongly related to the advances in African-American music, art and politics of the 1920’s. Although there were many themes associated with the works of the Harlem Renaissance, the four topics of interest that were focused on were, a longing for Africa, the beauty of African-Americans, the racism of the time and demonstrating that they too experienced universal concepts. Many African-Americans of the time began wondering about their ancestral past, prior to slavery, and looked to Africa for inspiration. Many African-Americans saw Africa as their original homeland and a place where blacks where not discriminated and oppressed. In the poem “Heritage,” Countie Cullen wrote “What is Africa to Me?,” a common question African-Americans were asking at the time. He also...
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...12 The Revolutionist Exploring Marcus Garvey African American Literature Mr. Brown 12 The Revolutionist Exploring Marcus Garvey African American Literature Mr. Brown Throughout life and its many injustices one must be confident in their character and understanding who they are, not only as a person but a part of a people, becomes imperative to any conscientious progression. The prominent, well respected African American, social activist, and revolutionary, Marcus Garvey understood the relevance of knowing oneself and how it played a major role in a person conscious development. He had such a bold passion for the uplift of his people, (Blacks), that he mustered all his power, political, economic, and intellectual, to advocate for them, driving them away from the confines of white supremacy, towards liberation in its entirety. “Every man has a right to his own opinion. Every race has a right to its own action; therefore let no man persuade you against your will, let no other race influence you against your own.” -Marcus Garvey Born on August 17th, 1887 into a large family, living in St. Ann’s Bay, Jamaica, Marcus Mosiah Garvey had parents that were indefinitely devoted to their eleven children's overall wellbeing and with an authoritative parenting approach they were ultimately the foundation for establishing him as a man with commendable morals, values, and responsible for his ethical outlook on life. As a child he admired his father keenly and adopted his craving...
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...beard, nor make any cuttings in the flesh."), ("All the days of the vow of his separation there shall no razsr come upon his head: until the days be fulfilled, in the which he separateth himself unto the Lord, he shall be holy, and shall let the locks of the hair of his head grow."). this is what the rastas believe in an this is what thet live by colors The Rastafari colors of green, gold and red (sometimes also including black) are very commonly sported on the Rastafari flag, icons, badges, posters etc. The green, gold and red are the colors of the Ethiopian flag and show the loyalty Rastafari feel towards the Ethiopian state in the reign of Haile Selassie. The red, black and green were the colors used to represent Africa by the Marcus Garvey movement. Red is said to signify the blood of martyrs, green the vegetation and beauty of Ethiopia, and gold the wealth of...
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...Marcus Garvey created the Universal Negro Improvement Association (UNIA) as a small body in Jamaica. By his philosophy of promoting racial pride and developing black-owned and operated enterprises, Garvey was able to secure the popular support that eventually made his movement so grand. Garvey used mobilization, communication, and identity-forming to create largest black mass movement in history. In the end, however, the size and potential power of the Garvey movement inspired both inside and outside actors to move against Garvey, culminating in its eventual decline. Garvey’s philosophy of promoting race pride and uniting all blacks depended on mobilization. This turned out to be one of his greatest skills. With his fiery oratory and public grandeur, Garvey became a larger-than-life figure. He was able to eventually captivate followers that numbered in the millions (Cedric Robinson, Black Movements in America, 121). Any downfalls of his businesses, and eventually the movement, were not for lack of followers. Literally thousands of people wanted to buy a piece of the Garvey machine. Additionally, Garvey distanced himself from such other black leaders as W.E.B. DuBois by criticizing DuBois’s desire to have a place among whites in American society (Birnbaum and Taylor, Civil Rights in America since 1787, 272). By polarizing the black population, Garvey was able to delineate the differentiation of the UNIA and galvanize his support. Furthermore, the prevalence of UNIA...
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...Introduction There are many misconceptions people have (myself included) when the topic of Rastafarianism enters into the conversation. Most non-Rastafarians do not hold the religion in high regard, and consider it just an excuse to get high and listen to reggae music all day. Surprisingly, while growing up I witnessed more white suburban teens embracing Rastafarianism than I ever saw blacks of any age embracing it; even more confusing is the fact that Rastafarians are rumored to be anti-white. Talk about conflicting information. When you witness one thing but hear another, how do you determine the truth? Being guilty of said misconceptions myself, I set out on my quest to get to the truth. I felt that the best way to uncover the truth would be to speak to a real Rastafarian. I caught up with a gentleman by the name of Ras Kamau who agreed to answer a few questions on Rastafarian beliefs, history, as well as shed some light on a few of the myths and misconceptions that other people including myself have regarding his religion. Haile Selassie I The Rastafarian religion plants its roots in Africa, and is frequently associated with the underprivileged black population of Jamaica. The followers of Rastafari consider it to be more of a way of life, and not just a religion. Rastafarians consider themselves to be advocates of global issues and often speak out against social injustices such as inequality, oppression and poverty. The foundation of the Rastafarian religion is...
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...HST 2100 DL01 QUIZ 4 CHAPTER 7 DUE APRIL 11, 2011 DR. DARLENE ANTEZANA 1. WOMEN’ PEACE PARTY- The WPP was founded in 1915 and was led by Jane Adams and other well-known reformers. The WPP dedicated itself to promoting pacifism and feminism. The WPP leaders maintained that women suffrage and women’s participation in government would stop this and future wars. To them, wars represented the failure of male leaders (pg. 320). 2. BESSIE COLEMAN- The first black woman to earn her pilot’s license in 1921. Coleman crashed and died while practicing for an air show in Orlando, Florida. After Coleman’s death, her friends and fans took up her dream of establishing a flying school black Americans, naming it the Bessie Coleman School (pg. 344). 3. ADELINA OTERO-WARREN- With an elite background and was bi-lingual, Warren proved to be active and influential in the woman suffrage movement. She managed to reach out to Hispanas of other classes, convincing many of them that the patriarchal system could change, and that women could and should have the right to vote. Otero-Warren served as president of New Mexico’s chapter of the NWP, until 1919, when she became chair of the women’s division if the Republican State Committee for Women (pg. 332-333). 4. NINETEENTH AMENDMENT- On August 26, 1920 the secretary of state proclaimed the ratification of the Nineteenth Amendment to the U.S. Constitution. American women could finally vote at last. Seventy-two years had passed since the...
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