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please include all working, thankyou. Lock Ltd reported the following information for the year ended 30 June 2021: 2021 2020 Bank overdraft 7,000 9,500 Dividend
please include all working, thankyou.
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)Step by Step Solution
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