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Yu Corporation
Use the following Assets section of Yu Corporation's balance sheets for the years ended December 31,2013 and 2012 to answer the questions that follow.
Yu Corporation recorded depreciation expense of $344 million for 2012.
Refer to the information for Yu Corporation.
Required:
(1)Explain the impact on net income and cash flows of Yu using straight-line depreciation for financial reporting and accelerated depreciation methods for income tax purposes.
(2)In the notes to the financial statements,Yu indicates that it uses different depreciation methods for different types of plant and equipment assets.Explain why Yu might follow this policy.
Public's Perception
The collective opinion or attitude held by the general populace towards a specific topic or issue.
Restraint Theory
The concept that individuals may refrain from deviant behavior due to social constraints or personal control mechanisms.
Commit Suicide
The deliberate act of taking one's own life.
Murders Committed
The unlawful killing of one human by another, especially with premeditated malice.
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