Duly paid except in case of one shareholder

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Reference no: EM13181667

The following particulars are related to a company which has gone into liquidation. You are required to prepare liquidator's final statement of account allowing for his remuneration at 2% on the amounts realized on assets and 2% on the amounts distributed to unsecured creditors other than preferential credito$


Unsecured Creditors	6,72,000
Preferential Creditors	2,10,000
Debentures	2,25,000

The assets realized the following amounts:


Cash in Hand	60,000
Land & Buildings	3,90,000
Plant & Machinery	3,31,500
Furniture & Fittings	22,500

The liquidation expenses amounted to $6,000. A call of $2 per share on the partly paid 30,000 equity shares was made and duly paid except in case of one shareholder owning 1,500 shares.

Reference no: EM13181667

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