Does anyone know the answer to this question and could walk through what the impact would be on the 3 financial statements?
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In reality I think the company may restate its financials for the prior year? Idk exactly though
interested to hear thoughts
Sure. Depreciation decreases by 100. Assuming a 30% tax rate, net income is up $70.
Indirect method this becomes top line item in CFS. However, this is a non-cash transaction and PPE is going to increase as it didn’t actually depreciate by the previous amount stated, so PPE is up 100 and cash is down $30. So:
A:
Cash $30v
PPE $100^
L/OE:
RE $70^
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