total collection of money =7,00,000 , liquidation expences 28,000,8% debenture rs 20,000 ,fully secured creditors =30,000 preferential creditors = 75,000,unsecured creditors= 4,12,000 equity shares= 2,50,000 calculate commission on the amount distributed to equity shareholders. Rate of commission is 3%
Answers
Answer:
The commission on the amount distributed to equity shareholders
is Rs. 11,550.
Explanation:
- The amount of money left for Shareholders will be equal to
Total collection of money Rs. 7,00,000
Less:- Liquidation expenses (Rs. 28,000)
:- 8% Debentures (Rs. 20,000)
:- Fully secured creditors (Rs. 30,000)
:- Preferential creditiors (Rs. 75,000)
:- Unsecured creditors (Rs. 4,12,000)
Amount Left for shareholders before the commission Rs. 1,35,000
- Also, We have Rs. 2,50,000 for the shareholders. Therefore,
Total Amount left for the shareholders = Rs. 2,50,000 + Rs. 1,35,000
= Rs 3,85,000
- Commission = 3% on amount distributed to equity shareholders
= 3% of 3,85,000
= Rs. 11,550
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Answer:
The amount disbursed to equity stockholders is subject to a fee of Rs. 11,550.
Explanation:
Shareholders will get a sum of money equivalent to
Total collection of money Rs. 7,00,000
Less:- Liquidation expenses (Rs. 28,000)
: 8% Debentures (Rs. 20,000)
: Preferential creditiors (Rs. 75,000)
: Unsecured creditors (Rs. 4,12,000)
: Fully secured creditors (Rs. 30,000)
Amount Left for shareholders before the commission Rs. 1,35,000
A further Rs. 2,50,000 is available for the stockholders. Total Amount Left for the Shareholders as a result = Rs. 2,50,000 + Rs. 1,35,000
= Rs 3,85,000
Commission = 3% on amount distributed to equity shareholders
= 3% of 3,85,000
= Rs. 11,550
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