Suppose a firm purchases an asset for $1,000,000 on 12/31/20…
Suppose a firm purchases an asset for $1,000,000 on 12/31/2022 at 4:40 p.m. It falls into 10 year straight line depreciation category. Please explain the YEAR (or years) such as 1999 or 2022 (not year 1 or year 0) when the $1,000,000 shows up: 1) As an outflow of cash on the Cash flow statement 2) As an addition to Gross PPE on the Balance sheet 3) As an expense on the income statement.