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QUESTION 1- LIQUIDATION On 30 June 2023, Hubris Lid went into liquidation. At...

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Accounting

QUESTION 1- LIQUIDATION
On 30 June 2023, Hubris Lid went into liquidation. At that date, the equity of Hubris Lid comprised the following.
\table[[300,000 Preterence Shares Issued For $1.00 Paid To $0.50,150,000],[$00,000 Ordinary Shares lssued For $1.00 Paid To $0.80,400,000]]
After realising the assets and paying all credilors, the liquidator had $170,000 cash available to distribute to shareholders.
Required:
Prepare a statement detailing the distribution of cash to shareholders assuming the company's conatitution was silent regarding the rights of sharehalders upon winding up.
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