X Ltd. went into voluntary liquidation on 31st December, 2016 when their Balance Sheet read as follows:

Preference dividends were in arrears for 2 years and the creditors included preferential creditors of ₹ 38,000. The assets were realised as follows:
Land and buildings ₹ 9,00,000;

Machinery and plant ₹ 15,00,000;

Patents ₹ 2,25,000; Stock ₹ 4,50,000;
Sundry Debtors ₹ 6,00,000. The expenses of liquidation amounted to ₹ 27,250. The liquidator is entitled to a commission of 3% on assets realised except cash. Assuming that final payments including those on debentures were made on 30th June, 2016. Show the Liquidator’s Final Statement of Account.

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Liabilities Issued and Subscribed Capital: 15,000, 10% cumulative preference shares of 100 each fully paid 7,500 equity shares of 100 each, 22,500 equity shares of 100 each, 15% Debentures secured by a floating charge Interest outstanding on debentures Creditors 75 paid 60 paid ₹ Land and Buildings 15,00,000 Machinery and Plant Patents 5,62,500 Stock 13,50,000 Sundry Debtors 7,50,000 Cash at Bank 1,12,500 Profit and Loss Account 9,56,250 52,31,250 Assets ₹ 7,50,000 18,75,000 3,00,000 4,02,500 8,25,000 2,25,000 8,53,750 52,31,250