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NAP Assessment Application Question 5 of 12 -/21 View Policies Current Attempt in Progress Wildhorse Company purchased land and a building on January 1, 2022.
NAP Assessment Application Question 5 of 12 -/21 View Policies Current Attempt in Progress Wildhorse Company purchased land and a building on January 1, 2022. Management's best estimate of the value of the land was $130,000 and of the building $260.000. However, management told the accounting department to record the land at $286,000 and the building at $104,000. The building is being depreciated on a straight-line basis over 15 years with no salvage value. Calculate the annual change in net income 5 Why do you suppose management requested this accounting treatment? Is it ethical? and this practice is It is likely that management requested this accounting treatment 8 eTextbook and Media eTextbook Lab Assignment Assistance Used
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