Question

From the following
data
you are required to
prepare liquidator's final statement of account
allowing for the remuneration at 2% on the
amount realized
on assets and 2% on the
amount distributed to unsecured -creditors
other than preferential creditors.
unsecured creditors Rs. 2, 24,000; preferential
creditors Rs.70000; Debentures Rs. 75,000
The assets realized the following amounts
Cash Rs. 20.000; Land Rs. 1,30,000 ;plant R. 1, 10,500;
Furniture Rs. 7500. The liquidation expenses
amounted to Rs.2000. A call of Rs. 2 per
Share on the partly paid 10,000.equity shares
was made and duly paid except in case of one
share holder owing you shares.​

Answer 1

Explanation:

Cash Rs. 20.000; Land Rs. 1,30,000 ;plant R. 1, 10,500;

Furniture Rs. 7500. The liquidation expenses

amounted to Rs.2000. A call of Rs. 2 per

Share on the partly paid 10,000.equity shares

was made and duly paid except in case of one

share holder owing you shares.