The Details Below Were Extracted from the Accounting Records of Capricorn

question 13

Multiple Choice

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 preference shareholders, the amount of the actual refund or call is:

• A) A call of $20 000.
• B) A call of $100 000.
• C) A refund of $20 000.
• D) A refund of $40 000.

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Definitions:

Jericho

One of the oldest inhabited cities in the world, located in the West Bank, notable for its ancient archaeological sites.

Çatal Höyük

An archaeological site in modern Turkey, known as one of the earliest urban centers in the world, dating back to the Neolithic era, notable for its unique layout and murals.

Neolithic Murals

Wall paintings from the Neolithic period, found in various archaeological sites, which depict scenes from everyday life, animals, and human figures.

Warfare

The engagement in or activities involved in war or conflict, including strategies, tactics, and operations conducted by armed forces.