Acctg Question
Beginning gross PP&E = $123 Ending gross PP&E = $421 Cost of PP&E purchased during the year = $651 Cost of PP&E disposed off or sold during the year =?
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...? Assuming no depreciation: Beg +purchase - sales = ending
If you started with gross PP&E of $123 and had purchased $651 of PP&E, your ending balance of PP&E not taking into account any disposal would be $774. However, since ending balance is actually $421, that means that PP&E disposed of during the year would be (774 - 421) = $353
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