Answer:
there is an increase in taxes of $52,192
Explanation:
The computation of the net payment or saving is shown below:
Given that
Book value = $450,000
Sale value = $636,400
since the sales value is more than the book value so here the capital profit is there
Therefore capital profit would be
= $636,400 - $450,000
= $186,400
Now tax would be
= $186,400 × 28%
= $52,192
So there is an increase in taxes of $52,192
Modern technology is simply an advancement of old technology, the impact of technology in modern life is unmeasurable, we use technology in different ways and sometimes the way we implement various technologies ends up harming our lives or the society we leave in.
The allowance for doubtful accounts credited, instead of accounts receivable when recording the adjusting entry for bad debts Because accounts receivable is made up of numerous client accounts, it cannot be credited unless it is known which particular customer will not pay.
The provision for questionable accounts is referred to as a "counter asset" since it reduces the value of an asset, in this example, the accounts receivable. The compensation, often known as a doubtful account, is management's projection of the amount of accounts receivable that customers will not pay. Let's assume, using the aforementioned example, that on June 30 a business reports an accounts receivable debit balance of $1,000,000. The business predicts that $50,000 will not be converted into cash and expects some consumers won't be able to pay the full amount.
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The laws governing intellectual property are where common-law and code-law systems most obviously diverge.
<h3>
What is intellectual property ?</h3>
The collection of intangible assets that a company or person possesses and is legally entitled to guard against illegal use or application by third parties is referred to as intellectual property.
The concept of intellectual property was developed on the premise that some works produced by the human mind should be afforded the same legal protections as material possessions.
Hence, the difference between common-law and code-law systems is found in the laws pertaining to intellectual property.
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