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Calculate the annual change in net income

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Question - Wildhorse Company purchased land and a building on January 1, 2022. Management's best estimate of the value of the land was $122,000 and of the building $244,000. However, management told the accounting department to record the land at $268,400 and the building at $97,600. The building is being depreciated on a straight-line basis over 15 years with no salvage value.

Calculate the annual change in net income. Why do you suppose management requested this accounting treatment? Is it ethical?

Reference no: EM133050924

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