Reference no: EM132325710

LQ10A

• Extract from Balance Sheet & Profit/Loss Statement (year end 30 June)

	2018	2017
Interest receivable	5,800	4,500
Land	245,000	200,000
Buildings	2,200,000	1,000,000
-Accumulated depreciation	(200,000)	(150,000)
Machinery	55,000	50,000
-Accumulated depreciation	(4,600)	(5,000)
Asset revaluation surplus (land)	31,500	0

LQ10a

• Additional information:
• Interest revenue for the year was $4,000.
• Depreciation expense on machinery for the year was $5,000.
• Land was revalued at the end of the year. This resulted in an
  after tax (rate = 30%) increase in asset revaluation surplus.
• Buildings were purchased on 30 June 2018. This was paid for by issuing $800,000 worth of shares and the balance paid in cash.
• Machinery with a cost of $9 000 was sold for cash during the year. A gain on sale of $2,000 was recorded. New machinery was purchased for cash.

Required:

• Calculate net cash used in investing activities

LQ1UB

Extract from Balance Sheet & Profit/Loss Statement (year end 30 June)

	2018	2017
Dividend payable	15,000	8,000
Bank loan	160,000	80,000
Share Capital	300,000	200,000
Retained profits	40,500	50,250
Profit after tax	17,000

LQ10b

Additional information:

• A bonus share dividend of $2,000, and a cash interim dividend, was paid during the year.
• Repayments of $25,000 on the bank loan were made during the year. Further loans were taken out, partly to cover the cost of a new vehicle for $45,000 and the remainder to inject cash into the business.
• Land was purchased partly by issuing $40,000 shares.

Required:

• Calculate the net cash used in financing activities