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Lock Ltd reported the following information for the year ended 30 June 2021: 2021 2020 Bank overdraft 7,000 9,500 Dividend payable 12,000 10,000 Bank loan

Lock Ltd reported the following information for the year ended 30 June 2021:

2021

2020

Bank overdraft

7,000

9,500

Dividend payable

12,000

10,000

Bank loan

150,000

80,000

Share Capital

305,000

250,000

Retained earnings

50,500

90,000

Profit after tax

18,500

Additional information:

  • An interim dividend was paid during the year: $25,000 was paid by way of a bonus share issue, the remainder of the interim dividend was paid in cash
  • A patent was purchased during the year, with part payment made by taking out a bank loan of $45,000.
  • Repayments on bank loans for the year amounted to $30,000.

Required:

Calculate and prepare Cash Flows from Financing Activities (an extract from the Statement of Cash Flows) in accordance with AASB107 for the year ended 30 June 2021. (12 marks)

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