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Question
On 1 September 2018, Strategix Ltd went into liquidation. At that date, the equity of Strategix Ltd comprised the following.
200 000 ordinary shares issued for $2 and paid to $1.50 $300 000
300 000 ordinary shares issued for $1 and fully paid . $300 000
total $600 000
Required
How to prepare statement detailing the distribution of cash to shareholders. Assume that after realising the assets and paying all creditors, the liquidator had $50 000 cash available to distribute to shareholders.
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