Shri Chopra is appointed liquidator of Moon Company Limited, in voluntary liquidation, on 1 July 2016. Following balances are extracted from the books on that date:

You are required to prepare a Statement of Affairs and Deficiency / Surplus Account to be submitted to the meeting of the creditors. The following assets are valued as under:
Machinery ---- ₹ 90,000;

Leasehold properties ---- ₹ 1,09,000;

Investments ---- ₹ 6,000;

Stock-in-trade ---- ₹ 3,000. Bad Debts are ₹ 3,000 and the doubtful debts are ₹ 6,000 which are estimated to realise ₹ 3,000. The bank overdraft is secured by deposit of title deeds of leasehold properties. Preferential creditors are ₹ 1,500. Telephone rent outstanding ₹ 120.

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Liabilities Capital: 24,000 shares of * 5 each Provision for bad debts Debentures Bank Overdraft Liabilities for Purchases ₹ Machinery 1,20,000 Leasehold Properties 15,000 Stock-in-trade 75,000 Book Debts 27,000 Investments 30,000 Calls-in-Arrear Cash in Hand Profit and Loss Account 2,67,000 Assets ₹ 45,000 60,000 1,500 90,000 9,000 7,500 1,500 52,500 2,67,000