Rose opened an Office Cleaning Service company on January 1, 2020. During 2020 she had the following transactions. (1) She started the business with investing $30,000 of her own money (business was organized as corporation) (2) She borrowed $45,000 from bank by issuing a 5-year note. (3) She purchased $15,000 of furniture and equipment in cash. (4) She purchased a truck for business use at $20,000 in cash. (5) During the year, provided $70,000 services to customers of which $66,000 was collected, the rest was not yet collected as of Dec. 31st. (6) During the year, she incurred $55,000 of salaries, rent, utilities, and insurance expenses of which $3000 was still not paid as of Dec. 31st. (7) During the year, she paid $3000 interest on the note to the Bank (8) During the year, she took $8,000 as dividend. (9) During the year, purchased $2000 of supplies in cash. $500 of the supplies was left as of Dec. 31st. (10) During the year, she sold $1000 of unnecessary equipment in cash. (11) Depreciation expense for year was $4,500. Compute net cash flows from financing activities.
Rose opened an Office Cleaning Service company on January 1, 2020. During 2020 she had the following transactions.
(1) She started the business with investing $30,000 of her own money (business was organized as corporation)
(2) She borrowed $45,000 from bank by issuing a 5-year note.
(3) She purchased $15,000 of furniture and equipment in cash.
(4) She purchased a truck for business use at $20,000 in cash.
(5) During the year, provided $70,000 services to customers of which $66,000 was collected, the rest was not yet collected as of Dec. 31st.
(6) During the year, she incurred $55,000 of salaries, rent, utilities, and insurance expenses of which $3000 was still not paid as of Dec. 31st.
(7) During the year, she paid $3000 interest on the note to the Bank
(8) During the year, she took $8,000 as dividend.
(9) During the year, purchased $2000 of supplies in cash. $500 of the supplies was left as of Dec. 31st.
(10) During the year, she sold $1000 of unnecessary equipment in cash.
(11)
Compute net
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