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

B. Roe Company provided the following account balances:

2019 2020

Machinery 2,500,000 3,200,000

Acc.Depreciation 1,020,000 1,200,000

Loss on sale ofmachinery ? 40,000

During 2020, the entity sold for P260,000 a machine with original cost of P400,000 and purchased an item of machinery.

What is the depreciation of machinery for 2020?

A. 180,000

B. 280,000

C. 240,000

D. 320,000

What is the cost of machinery purchases in 2020?

A. 960,000

B. 1,100,000

C. 700,000

D. 340,000

C. Oakwood Company provided the following data for the year:

Cash balance, beginning of the year 1,300,000

Cash flow from financing activities 1,000,000

Cash flow from operating activities 400,000

Cash flow from investing activities (1,500,000)

Total shareholders' equity, beginning of the year 2,000,000

What is the cash balance at the end of the year?

A. 1,600,000

B. 1,200,000

C. 1,700,000

D. 1,400,000

D. Sun Company provided the following data for the preparation of the statement of cash flows for the current year:

Increase in accounts receivable300,000

Decrease in income tax payable170,000

Depreciation 1,000,000

Net income250,000

Gain on sale of equipment440,000

Loss on sale of building 210,000

Using the indirect method, what should be reported as net cash flow from operating activities?

A. 880,000

B. 550,000

C. 700,000

D. 780,000

E. Alpha Company had the following activities during the year:

• Acquired 2,000 shares of Maybel Corporation for P260,000.
• Sold an investment in Rate Motors for P350,000 when the carrying amount was P330,000.
• Acquired a P500,000, 4-year certificate of deposit from a bank.
• During the year, interest of P37,500 was paid to Alpha.
• Collected dividends of P12,000 on share investment.

What is the net cash used in investing activities?

A.360,500

B. 410,000

C. 372,500

D. 398,000