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The accounting records of Crooked Ltd recorded the following information: Assets (extract) 30 June 2022 30 June 2021 $ Interest receivable 8,500 10,000 Land 240,000
The accounting records of Crooked Ltd recorded the following information: Assets (extract) 30 June 2022 30 June 2021 $ Interest receivable 8,500 10,000 Land 240,000 120,000 Equipment 115,000 75,000 Accumulated depreciation - equipment (30,000) (22,500) Liabilities (extract) Dividend payable 14,000 12,000 Bank loans 225,000 150,000 Debentures 60,000 80,000 Equity Share capital 240,000 220,000 Retained earnings 50,000 45,000 Additional information: The following items were included in the profit after tax of $29,000: interest revenue $5,000; gain on sale of equipment $6,000; depreciation expense equipment $11,500 Equipment with a cost of $40 000 was sold during the year. Equipment was purchased during the year. Land was purchased during the year, with part paid by taking out a bank loan of $50,000 and the balance paid in cash. Repayments were made during the year: $20,000 on debentures; $15,000 on bank loans An interim dividend was paid during the year. The company discloses dividends received in investing activities. Required: 1. Calculate and present net cash flows from investing activities for the year ended 30 June 2022. 2. Calculate and present net cash flows from financing activities for the year ended 30 June 2022
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