The Breakfast Foods Ltd. went into voluntary liquidation on 31st December, 2016. The balances in its books on that date were:

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Liabilities Share Capital: Authorised and Subscribed : 5,000, 6% Cumulative Preference Shares of *100 each fully paid 2,500 Equity Shares of 100 each, 75 paid 7,500 Equity Shares of 100 each, 60 paid 5% Mortgage Debentures Interest Outstanding Creditors Land and Buildings Machinery and Plant Patents Stock Sundry Debtors Land and Buildings Machinery and Plant 5,00,000 Patents Stock 1,87,500 Sundry Debtors 4,50,000 Cash at Bank 2,50,000 Profit and Loss Account 12,500 3,62,500 17,62,500 The expenses of liquidation amounted to 27,250. Prepare the Liquidator's Final Statement of Account. Assets 17,62,500 The liquidator is entitled to commission of 3% on all assets realised except cash and 2% on amounts distributed among unsecured creditors other than preferential creditors. 37,500 and a loan for 1,25,000 secured by a mortgage on land and Creditors include preferential creditors buildings. The preference dividends were in arrears for two years. The assets realised as follows: 2,50,000 6,25,000 1,00,000 1,37,500 2,75,000 75,000 3,00,000 ₹ 3,00,000 5,00,000 75,000 1,50,000 2,00,000