During the current year, Delaware Company reported total operating expenses of P3,200,000, consisting of P1,000,000 depreciation, P700,000 insurance and P1,500,000 salaries. The prepaid insurance P150,000 on January 1 and P200,000 on December 31. The accrued salaries payable totaled P220,000 on January 1 and P200,000 on December 31. What total amount was paid for operating expenses?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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During the current year, Delaware Company reported total operating expenses of P3,200,000, consisting of P1,000,000 depreciation, P700,000 insurance and P1,500,000 salaries. The prepaid insurance P150,000 on January 1 and P200,000 on December 31. The accrued salaries payable totaled P220,000 on January 1 and P200,000 on December 31. What total amount was paid for operating expenses?

  • P2,270,000
  • P3,270,000
  • P2,230,000
  • P2,130,000
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