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with complete solutions, journal entry (if ever) and answer. During the year 2020, the Belleview Company had generated total sales revenue of P1,000,000, of which
with complete solutions, journal entry (if ever) and answer.
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? 1.5 2. How much was provided by/(used in) operating activities during 2020 Step by Step Solution
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