ABC was created on January 1, 2019 and proceeded to issue 600 000 10% cumulative preferred...

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ABC was created on January 1, 2019 and proceeded to issue 600 000 10% cumulative preferred stocks and 400,000 ordinary stocks. The preferred stocks were issued privately at a value of AED 10 each and the ordinary shares were issued to the public at 100 each, payable in two instalments ofAED50 per share. The first instalment was payable on application and the remaining instalment was payable by 30 June 2020. Required Prepare the equity section of the balance sheet as, on 30 June 2020. (assumes that the second call had not yet been made ABC was created on January 1, 2019 and proceeded to issue 600 000 10% cumulative preferred stocks and 400,000 ordinary stocks. The preferred stocks were issued privately at a value of AED 10 each and the ordinary shares were issued to the public at 100 each, payable in two instalments ofAED50 per share. The first instalment was payable on application and the remaining instalment was payable by 30 June 2020. Required Prepare the equity section of the balance sheet as, on 30 June 2020. (assumes that the second call had not yet been made