Scribd Logo
Upload

Welcome to Scribd!

  • 17 views

    Adobe Scan 11-Nov-2022

    Uploaded by

    Suthersan Soundarraj
    The document describes the liquidation of two companies. 1) Company A had liabilities including secured creditors of Rs. 20,999 and unsecured creditors of Rs. 39,500. Total assets realized were Rs. 26,000. The liquidator is entitled to 1% of amounts paid to unsecured creditors (Rs. 252) and 1% of total assets realized (Rs. 260). 2) Company B had liabilities including secured creditors of Rs. 30,000, preferential creditors of Rs. 700 and unsecured creditors of Rs. 40,500. Total assets realized were Rs. 36,000. The liquidator is entitled to 4% of amounts paid to secured creditors and 2% of

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Adobe Scan 11-Nov-2022

    Uploaded by

    Suthersan Soundarraj
    17 views2 pages
    The document describes the liquidation of two companies. 1) Company A had liabilities including secured creditors of Rs. 20,999 and unsecured creditors of Rs. 39,500. Total assets realized were Rs. 26,000. The liquidator is entitled to 1% of amounts paid to unsecured creditors (Rs. 252) and 1% of total assets realized (Rs. 260). 2) Company B had liabilities including secured creditors of Rs. 30,000, preferential creditors of Rs. 700 and unsecured creditors of Rs. 40,500. Total assets realized were Rs. 36,000. The liquidator is entitled to 4% of amounts paid to secured creditors and 2% of

    Original Description:

    Solutions

    Original Title

    Adobe Scan 11-Nov-2022 (1)

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document describes the liquidation of two companies. 1) Company A had liabilities including secured creditors of Rs. 20,999 and unsecured creditors of Rs. 39,500. Total assets realized were Rs. 26,000. The liquidator is entitled to 1% of amounts paid to unsecured creditors (Rs. 252) and 1% of total assets realized (Rs. 260). 2) Company B had liabilities including secured creditors of Rs. 30,000, preferential creditors of Rs. 700 and unsecured creditors of Rs. 40,500. Total assets realized were Rs. 36,000. The liquidator is entitled to 4% of amounts paid to secured creditors and 2% of

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    17 views2 pages

    Adobe Scan 11-Nov-2022

    Uploaded by

    Suthersan Soundarraj
    The document describes the liquidation of two companies. 1) Company A had liabilities including secured creditors of Rs. 20,999 and unsecured creditors of Rs. 39,500. Total assets realized were Rs. 26,000. The liquidator is entitled to 1% of amounts paid to unsecured creditors (Rs. 252) and 1% of total assets realized (Rs. 260). 2) Company B had liabilities including secured creditors of Rs. 30,000, preferential creditors of Rs. 700 and unsecured creditors of Rs. 40,500. Total assets realized were Rs. 36,000. The liquidator is entitled to 4% of amounts paid to secured creditors and 2% of

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 2

    f h s s s

    1.72 d i a s e e

    igaidia
    P

    Peeleneial i o n s

    Debeture

    S a eceaprse
    relioed s s follioes

    C a in harnd
    Lad&Buliding

    Past &Mactinery

    Fumituns

    igidaistsfna s a i n t s f
    as
    pariclians propa
    F fie following

    caers s . 3 aaa
    Ligutalion
    Snsesnd editory Ps. 35I.

    h a s a gaid do saene oneiio


    Ligsidaior's somisdi 2E
    19 Lad went inotiguidalinwito te foliowing liasliti
    a)Secedcneditiom Ra. 20,99

    Snoeosd adiors Ra 3950


    Liquidation o f Companies
    11.7
    Läquidator is entitled to a
    remuneration of 1%on
    are Rs. 252.
    Liquidatíon expenses
    amon
    (inchuding securities
    withcreditors) and 1% o n the
    realised
    the amounts
    realised Rs. 26,000 (enchuding
    creditors. The varíous assets
    distributed to unsecured
    hands of secured creditors),
    securities in the
    statement of account.
    Prepare the
    liquidator's final (ECAIA) Nov. 2008
    (CS) Nov. 2008; 1st M.Com
    IMadras, B.Com., 2006; BCS (PYD)
    2007; B.Com (PZAA) Novw.
    B.Com (PZG) Ap. Oc 2003
    Nov. 2005; BCS
    Ist M.Com. (CAIA) Ap. 2006;
    Nov. 2005; c r e d i t o r s - R a . 28,16
    unsecured
    Ans: Payment to remuneration-Rs.
    1,962)
    Total liquidator's
    15 fRs.26,509)
    calculated a t t t
    unsecured creditors has been
    Remuneration on
    [Hint:
    liabilíties:
    the following
    Ltd. wentinto liquidation with
    12. Vijay Rs. 30,000,
    Secured creditors-
    (a) (securities
    realised- Rs. 35,000)
    Preferential credítors-Rs. 700
    (b) Unsecured creditors-Rs. 40,500
    remuneration of 4%
    on the
    (c) are Rs. 352.
    He is entitled to a amount
    and 2% on the
    Liquidator's expenses securities with creditors)
    (including assets realised
    Rs. 36,000.
    amounts realised various
    creditors. The
    unsecured
    distributed to
    final
    account.
    statement of Oct. 1993
    Prepare the liquidator's B.Com (1CE) Oct.
    2007; B.Com.,
    [Madras, Ra. 2,840;
    r e m u n e r a t i o n : On
    assets realised-

    Ans: Liquidator's
    to preferential itors-Rs. 14;
    cred
    On payment e r e d i t o r s - R s . 727
    unsecured
    On payment to

    Le.,37.094x 10)
    creditors-Rs.36,3671
    Amount paid to unsecured

    You might also like