A company went into voluntary liquidation. 3,50,000 were received from its assets. It does not include...

 

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A company went into voluntary liquidation. 3,50,000 were received from its assets. It does not include that amount which is received by selling those securities which are with fully secured creditors, following was the position: Share capital: 1000 shares of 100 each fully secured creditors (40,000 were received on securities) Preferential creditors Unsecured creditors Debentures having a floating charge on the assets of the company 35,000 6,000 1,40,000 2,50,000 5,000 7,500 Liquidation expenses Remuneration of liquidator Prepare the final statement of account of liquidator. A company went into voluntary liquidation. 3,50,000 were received from its assets. It does not include that amount which is received by selling those securities which are with fully secured creditors, following was the position: Share capital: 1000 shares of 100 each fully secured creditors (40,000 were received on securities) Preferential creditors Unsecured creditors Debentures having a floating charge on the assets of the company 35,000 6,000 1,40,000 2,50,000 5,000 7,500 Liquidation expenses Remuneration of liquidator Prepare the final statement of account of liquidator.

Answer rating: 100% (QA)

SOLUTION Liquidators Final Statement of Account Amount in Rs 350000 Receipts To Asse... View the full answer