X ltd went into liquidation with the following, Ask an Expert

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X Ltd. went into liquidation with the following liabilities:

Secured creditor: Rs.1,00,000 (Securities realized: Rs.1,25,000)
Preferential creditors: Rs.3,000
Unsecured creditors: Rs.1,52,500

Liquidation expenses are Rs.1,260. Liquidator is entitled to a remuneration of 3% on the amounts realized (including securities with creditors) and 1½% on the amount distributed to unsecured creditors. The various assets realized Rs.1,30,000 (excluding securities with secured creditors). Prepare the liquidator's final statement of account.

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Corporate Finance, Finance

Category:- Corporate Finance
Reference No.:- M9749006

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