Question

521
of Account
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PRACTICAL QUESTIONS
Nil
QUIDATION OF COMPANIES
THEORETICAL QUESTIONS
Describe Preferential Creditors according to the Companies Act.
How is the liability of list 'B' contributories determined? Who are preferential creditors? What is a
syatement of Affairs?
eon assets, preferential creditors and liquidator's remuneration in preparing the Liquidator's
7 what order the money realised from assets is distributed by the liquidator?
e the liabilities of list 'B' contributories determined? Illustrate by taking on suitable example.
splain the Liquidator's Final Statement of Accounts.
Liquidator's Final Statement of Account
the American Transport Company Ltd. (in voluntary liquidation) has paid off its creditors in full
jital issued: 100 Preference Shares of 10 each (fully paid); 300 Equity Shares of 10 each (fully
ad liquidator is in a position to make a return to the shareholders. The position is as follows: Share
dures shall have priority over the equity shares as to repayment of capital. The cost of liquidation
1140. Creditors amount to * 2,225. The assets realised 3,740. A call of 2 per share on the
dy paid equity shares was duly paid except in case of one shareholder owning 100 shares.
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Answer 1

Answer:

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Explanation:

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