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PROBLEM12 From the data relating to a company (in voluntary liquidation), you are asked to...

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PROBLEM12 From the data relating to a company (in voluntary liquidation), you are asked to prepare liquidator's statement of account. (a) Cash with liquidator (after all assets are realised and secured creditors and debentureholders are paid) is 6,73,800. (6) Preferential creditors to be paid * 30,000. (c) Other unsecured creditors 2,15,000. (d) 4,000 6% preference shares of 3 100 each, fully paid. (e) 2,000 equity shares of 100 each, * 75 per share paid up. V) 6,000 equity shares of 100 each, * 60 per share paid up (8) Liquidator's remuneration 2% on preferential and other unsecured creditors. (h) Preference dividends were in arrears for 2 years

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