M Co Ltd went into voluntary liquidation on 1st March, 2016. The following balances are extracted from its books on that date:Plant and machinery and buildings are valued at ₹1,50,000 and ₹1,20,000 respective ly. On realisation, losses of ₹15,000 are expected on stock. Book debts will realise ₹70,000. Calls-in-arrears are expected to realise 90%. Bank overdraft is secured against buildings. Preferential creditors for taxes and wages are 6,000 and miscellaneous expenses outstanding ₹2,000. Prepare a Statement of Affairs to be submitted to the meeting of creditors.

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Liabilities Capital: 50,000 equity shares of * 10 each Debentures (secured by floating charge) Bank Overdraft Creditors ₹ Buildings 5,00,000 Plant and Machinery 2,00,000 Stock-in-Trade 30,000 Book Debts 40,000 Less: Provision 7,70,000 Calls-in-Arrear Cash in Hand Profit and Loss Account Assets 75,000 10,000 ₹ 1,50,000 2,10,000 95,000 65,000 1,00,000 10,000 1,40,000 7,70,000