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O Ltd went into liquidation on 31 March 2020. At that date, the equity of O Ltd comprised of the following:
9225,000 'A' ordinary shares issued for $2 and paid to $1.60 $360,000
175,000 'B' ordinary shares issued for $1 and fully paid $175,000
Problem 1: After realising the assets and paying all creditors, the liquidator had $30,000 cash available to distribute to shareholders. Show the apportionment of any cash among the various classes of shareholders.
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