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The details below were extracted from the accounting records of BH Ltd ( a company in the process of liquidation ) : 2 0 ,
The details below were extracted from the accounting records of BH Ltd a company in the process of liquidation:
$ preference shares fully paid $
$ ordinary shares paid to cents $
$
Cash available after payment of all creditors $
Assume that the constitution of BH 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.
Required: For ordinary shareholders, what is the amount of the actual refund or call?
A a refund of $
B a call of $
C a call of $
D a refund of $
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