1.) During the year 2020, the Belleview Company had generated total sales revenue of P1,000,000, of which P990,000 were collected during the year, including collections of P120,000 sales revenue made in 2019. The company purchased goods costing P600,000, paid P650,000 to merchandise suppliers including payment for goods purchases in 2019 of P80,000. Included in P180,000 operating expenses was the depreciation of P35,000. Accrued operating expenses decreased by P12,000 from January 1, 2020 to December 31, 2020. The company paid interest of P6,000 and income taxes of P90,000 during 2020.

1. How much operating expenses were paid in cash during 2020? [A]

2. How much was provided by/(used in) operating activities during 2020? [B]

2.)

Roe Company provided the following account balances: Machinery Acc. Depreciation Loss on sale of machinery 2019 2,500,000 1,020,000 2020 3,200,000 1,200,000 40,000 In 2020, the entity sold for P260,000 a machine with the original cost of P400,000 and purchased an item of machinery. What is the depreciation of machinery for 2020? 180,000 240,000 280,000 320,000 What is the cost of machinery purchases in 2020? 340,000 700,000 960,000 1,100,000