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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 18,500l 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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