Zeen ltd went into liquidation on 31 march 2011 where the

Assignment Help Corporate Finance

Reference no: EM13379384

Zeen Ltd. went into liquidation on 31 March 2011 where the following balance sheet was prepared:

Liabilities		Assets
Share Capital:		Goodwill	3,00,000
1,17,000 Equity	11,70,000	Building	2,88,000
Shares of 210
Each
Sundry Creditors:		Machinery	3,93,000
Partly Secured	3,31,860	Stock	3,40,800
Creditors
(Secured on
Building)
Unsecured	5,98,740	Sundry Debtors	3,88,920
Creditors
Preferential	1,45,200	Cash	15,000
Creditors
Bank Overdraft	72,000	P&L A/c	5,92,080
(Unsecured)
	23,17,800		23,17,800

Assets realized as follows: Building: $2,10,000; Machinery: $3,06,000; Stock: $2,34,000; Sundry debtors; $3,51,000; Cash: $5,000 The expenses on liquidation amounted to $6,000.

The liquidator's remuneration was agreed at $2 % on the amount realized (including cash) and 2% on the amount paid to the unsecured credito$ You are required to prepare the liquidator's final statement of account.

Reference no: EM13379384

Questions Cloud

In the early 20th century worker productivity in the : in the early 20th century worker productivity in the horndal iron works plant in sweden increased by 2 percent per year

Gama ltd went into liquidation on 31 december 2010 120000 : gama ltd. went into liquidation on 31 december 2010. 120000 384000 12000 following information is available with the

A civil engineer involved in construction management must : a civil engineer involved in construction management must decide between two ways to pump concrete up to the top floors

The following particulars are related to a company which : the following particulars are related to a company which has gone into liquidation. you are required to prepare

Zeen ltd went into liquidation on 31 march 2011 where the : zeen ltd. went into liquidation on 31 march 2011 where the following balance sheet was preparedliabilitiesassetsshare

A pharmaceutical company has hired you to perform an : a pharmaceutical company has hired you to perform an economic analysis on a currently ongoing project. experts from the

In a simple economy assume there are no taxes thus y is : in a simple economy assume there are no taxes thus y is disposable income the consumption function isc 500 0.75y.the

You are asked by a liquidator of a company to prepare a : you are asked by a liquidator of a company to prepare a statement of account to be placed before the meeting of the

Abc ltd went into voluntary liquidation on 1 january 2011 : abc ltd. went into voluntary liquidation on 1 january 2011. the liquidation gets remuneration at 3 on assets realized

User Account

All Pages