The Balance Sheet of Bubble Ltd. as on 31st December, 2016 was as follows: The company went
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The Balance Sheet of Bubble Ltd. as on 31st December, 2016 was as follows:The company went into liquidation on that date. Prepare Liquidator’s Statement of Account after taking into account the following:
(1) Liquidation expenses and liquidator’s remuneration amounted to ₹ 3,000 and ₹ 10,000, respectively.
(2) Bank loan was secured by pledge of stock.
(3) Debentures and interest thereon are secured by a floating charge on all assets.
(4) Fixed assets were realised at book values and current assets at 80% of book values.
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Related Book For
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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