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What will be the net effect of changing eastimates on the balance sheet, net income, and cash flows for the year? Dep Exp. prior to
What will be the net effect of changing eastimates on the balance sheet, net income, and cash flows for the year?
Dep Exp. prior to change in estimates (6,300)
Dep Exp. after the change in estimates (13800)
Decreasing the useful life and the residual value of the asset will (increase/decrease) total assets on the balance sheet, will (increase/decrease) net income on the income statement, and will (affect/not effect) total cash flows on the statement of the cash flows for the year.
Please answer the correct options in parenthesis.
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