What is the amount of accumulated depreciation on December

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Q1. QTS Corp. collected P24,700 in interest during 2021.  QTS showed P3,700 in interest receivable on its December 31, 2021 statement of financial position and P10,600 on December 31, 2020. How much is the Interest Revenue reported on QTS Company's statement of comprehensive income for 2021?

Q2. MAR Co. purchased machinery on account on July 1, 2019. Details of the machinery are as follows:

Cost of asset - P10,000

Salvage value - P2,000

Useful life - 8 years

The company uses the straight-line method in depreciating its assets.

What is the amount of accumulated depreciation on December 31, 2021?

Q3. ORI Co. reported profit after tax of ?420,000. ORI's income tax rate is 30%. Operating expenses for the year were 15% of sales and 25% of cost of sales. Other expenses were 10% of sales. How much is the sales?

Reference no: EM133075352

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