X ltd went into liquidation its assets realized rs175000

Reference no: EM13379389

X Ltd. went into liquidation. Its assets realized Rs.1,75,000, excluding the amount realized by sale of securities held by the secured creditors. The following was the position:


Share Capital 5,000 Shares of Rs.10 Each
Secured Creditors (Securities Realized Rs.20,000)	17, 500
Preferential Creditors	3,000
Unsecured Creditors	70,000
Debentures Having a Floating Charge on the Assets of the Company	1,25,000
Liquidation Expenses	2,500
Liquidator's Remuneration	3,750

Prepare the liquidator's final statement of account.

Reference no: EM13379389

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