The details below were extracted from the accounting records of Capricorn Ltd (a company in the process of liquidation). $\begin{array}{ll}
\text {$ 100000 \$ 1 $ preference shares fully paid }&\$ 100,000\
\text {$ 200000 \$ 1 $ ordinary shares paid to 50 cents }&100,000\
&\$200,000\
\text { Cash available (after payment of all creditors) }&\$20,000
\end{array}$
Assume that the constitution of Capricorn Ltd states that in the event of liquidation, all shares are to rank equally, based on the number of shares held, in distributing any surplus or deficiency.
For ordinary shareholders, the amount of the actual refund or call is:

Question

The details below were extracted from the accounting records of Capricorn Ltd (a company in the process of liquidation). $\begin{array}{ll}
\text {$ 100000 \$ 1 $ preference shares fully paid  }&\$ 100,000\
\text {$ 200000 \$ 1 $ ordinary shares paid to 50 cents }&100,000\
&\$200,000\
\text { Cash available (after payment of all creditors) }&\$20,000
\end{array}$
 Assume that the constitution of Capricorn Ltd states that in the event of liquidation, all shares are to rank equally, based on the number of shares held, in distributing any surplus or deficiency.
For ordinary shareholders, the amount of the actual refund or call is:

Quizplus · Accepted Answer

The Answer of The details below were extracted from the accounting records of Capricorn Ltd (a company in the process of liquidation). $\begin{array}{ll}
\text {$ 100000 \$ 1 $ preference shares fully paid  }&\$ 100,000\
\text {$ 200000 \$ 1 $ ordinary shares paid to 50 cents }&100,000\
&\$200,000\
\text { Cash available (after payment of all creditors) }&\$20,000
\end{array}$
 Assume that the constitution of Capricorn Ltd states that in the event of liquidation, all shares are to rank equally, based on the number of shares held, in distributing any surplus or deficiency.
For ordinary shareholders, the amount of the actual refund or call is:

The Details Below Were Extracted from the Accounting Records of Capricorn