Nice tip. Did you guys see this in any CFAI questions?
Wait I thought Ending Net PP&E= Beginning Net PP&E-Dep Expense+Purchase of capex-BV Sale How can “Beginning Net Fixed Assets - Asset Sales + Depreciation +/-change = Ending Net Fixed Assets”?
ok maybe i was a bit off. i just confirmed the formula from schweser and it is what rellison said - Beg Net Fixed Assets - Dep + Purchase of Assets (solve) - BV of Assets Sold = End Net Fixed Assets So, for this problem, it will be - 400 -20 + 70 (solved) - 0 =450 +2 to rellison for catching my mid work-day error.
Many thanks to everyone for clarifying this for me!