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Sunset Ltd. went into a voluntary liquidation, position of the company on that date was as follows:
1) 4,00,000 equity shares of ₹.10 each, ₹. 8 paid up per share
2) 6,00,000 equity shares of ₹.10 each, ₹. 5 paid up per share
3) Fully Secured Creditors ₹. 5,72,000, Preferential Creditors ₹. 2,00,000
13% Debentures ₹. 8,00,000
4) liquidation expense ₹ 8,000
5) liquidator's remuneration ₹. 1,20,000 (₹.60,000 at 2.5 % on assets realised and ₹.60,000 at 5%on
unsecured creditors including preferential creditors )
Prepare liquidator's statement of Receipts and Payments.?
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Sunset Ltd. went into a voluntary liquidation, position of the company...
Liquidator's Statement of Receipts and Payments for Sunset Ltd.
The following is the liquidator's statement of receipts and payments for Sunset Ltd. during its voluntary liquidation.
Receipts
- Assets Realised:
- Equity Shares (₹.8 paid-up) = 4,00,000 shares x ₹.2 = ₹.8,00,000
- Equity Shares (₹.5 paid-up) = 6,00,000 shares x ₹.5 = ₹.30,00,000
- Total Assets Realised = ₹.8,00,000 + ₹.30,00,000 = ₹.38,00,000
Payments
- Secured Creditors: ₹.5,72,000
- Preferential Creditors: ₹.2,00,000
- 13% Debentures: ₹.8,00,000
- Liquidation Expenses: ₹.8,000
- Liquidator's Remuneration:
- 2.5% on assets realised (₹.38,00,000) = ₹.95,000
- 5% on unsecured creditors (₹.2,00,000) = ₹.10,000
- Total Liquidator's Remuneration = ₹.95,000 + ₹.10,000 = ₹.1,05,000
Total Payments:
- Total Payments = Secured Creditors + Preferential Creditors + Debentures + Liquidation Expenses + Liquidator's Remuneration
- Total Payments = ₹.5,72,000 + ₹.2,00,000 + ₹.8,00,000 + ₹.8,000 + ₹.1,05,000
- Total Payments = ₹.17,85,000
Net Position:
- Total Receipts (Assets Realised): ₹.38,00,000
- Total Payments: ₹.17,85,000
- Surplus Available for Distribution: ₹.38,00,000 - ₹.17,85,000 = ₹.20,15,000
This statement provides a clear summary of the financial position of Sunset Ltd. during the liquidation process, detailing both the inflows from asset realisations and the outflows to creditors and other expenses.
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Sunset Ltd. went into a voluntary liquidation, position of the company on that date was as follows: 1) 4,00,000 equity shares of ₹.10 each, ₹. 8 paid up per share 2) 6,00,000 equity shares of ₹.10 each, ₹. 5 paid up per share 3) Fully Secured Creditors ₹. 5,72,000, Preferential Creditors ₹. 2,00,000 13% Debentures ₹. 8,00,000 4) liquidation expense ₹ 8,000 5) liquidator's remuneration ₹. 1,20,000 (₹.60,000 at 2.5 % on assets realised and ₹.60,000 at 5%on unsecured creditors including preferential creditors ) Prepare liquidator's statement of Receipts and Payments.?
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Sunset Ltd. went into a voluntary liquidation, position of the company on that date was as follows: 1) 4,00,000 equity shares of ₹.10 each, ₹. 8 paid up per share 2) 6,00,000 equity shares of ₹.10 each, ₹. 5 paid up per share 3) Fully Secured Creditors ₹. 5,72,000, Preferential Creditors ₹. 2,00,000 13% Debentures ₹. 8,00,000 4) liquidation expense ₹ 8,000 5) liquidator's remuneration ₹. 1,20,000 (₹.60,000 at 2.5 % on assets realised and ₹.60,000 at 5%on unsecured creditors including preferential creditors ) Prepare liquidator's statement of Receipts and Payments.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Sunset Ltd. went into a voluntary liquidation, position of the company on that date was as follows: 1) 4,00,000 equity shares of ₹.10 each, ₹. 8 paid up per share 2) 6,00,000 equity shares of ₹.10 each, ₹. 5 paid up per share 3) Fully Secured Creditors ₹. 5,72,000, Preferential Creditors ₹. 2,00,000 13% Debentures ₹. 8,00,000 4) liquidation expense ₹ 8,000 5) liquidator's remuneration ₹. 1,20,000 (₹.60,000 at 2.5 % on assets realised and ₹.60,000 at 5%on unsecured creditors including preferential creditors ) Prepare liquidator's statement of Receipts and Payments.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sunset Ltd. went into a voluntary liquidation, position of the company on that date was as follows: 1) 4,00,000 equity shares of ₹.10 each, ₹. 8 paid up per share 2) 6,00,000 equity shares of ₹.10 each, ₹. 5 paid up per share 3) Fully Secured Creditors ₹. 5,72,000, Preferential Creditors ₹. 2,00,000 13% Debentures ₹. 8,00,000 4) liquidation expense ₹ 8,000 5) liquidator's remuneration ₹. 1,20,000 (₹.60,000 at 2.5 % on assets realised and ₹.60,000 at 5%on unsecured creditors including preferential creditors ) Prepare liquidator's statement of Receipts and Payments.?.
Solutions for Sunset Ltd. went into a voluntary liquidation, position of the company on that date was as follows: 1) 4,00,000 equity shares of ₹.10 each, ₹. 8 paid up per share 2) 6,00,000 equity shares of ₹.10 each, ₹. 5 paid up per share 3) Fully Secured Creditors ₹. 5,72,000, Preferential Creditors ₹. 2,00,000 13% Debentures ₹. 8,00,000 4) liquidation expense ₹ 8,000 5) liquidator's remuneration ₹. 1,20,000 (₹.60,000 at 2.5 % on assets realised and ₹.60,000 at 5%on unsecured creditors including preferential creditors ) Prepare liquidator's statement of Receipts and Payments.? in English & in Hindi are available as part of our courses for B Com. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free.
Here you can find the meaning of Sunset Ltd. went into a voluntary liquidation, position of the company on that date was as follows: 1) 4,00,000 equity shares of ₹.10 each, ₹. 8 paid up per share 2) 6,00,000 equity shares of ₹.10 each, ₹. 5 paid up per share 3) Fully Secured Creditors ₹. 5,72,000, Preferential Creditors ₹. 2,00,000 13% Debentures ₹. 8,00,000 4) liquidation expense ₹ 8,000 5) liquidator's remuneration ₹. 1,20,000 (₹.60,000 at 2.5 % on assets realised and ₹.60,000 at 5%on unsecured creditors including preferential creditors ) Prepare liquidator's statement of Receipts and Payments.? defined & explained in the simplest way possible. Besides giving the explanation of Sunset Ltd. went into a voluntary liquidation, position of the company on that date was as follows: 1) 4,00,000 equity shares of ₹.10 each, ₹. 8 paid up per share 2) 6,00,000 equity shares of ₹.10 each, ₹. 5 paid up per share 3) Fully Secured Creditors ₹. 5,72,000, Preferential Creditors ₹. 2,00,000 13% Debentures ₹. 8,00,000 4) liquidation expense ₹ 8,000 5) liquidator's remuneration ₹. 1,20,000 (₹.60,000 at 2.5 % on assets realised and ₹.60,000 at 5%on unsecured creditors including preferential creditors ) Prepare liquidator's statement of Receipts and Payments.?, a detailed solution for Sunset Ltd. went into a voluntary liquidation, position of the company on that date was as follows: 1) 4,00,000 equity shares of ₹.10 each, ₹. 8 paid up per share 2) 6,00,000 equity shares of ₹.10 each, ₹. 5 paid up per share 3) Fully Secured Creditors ₹. 5,72,000, Preferential Creditors ₹. 2,00,000 13% Debentures ₹. 8,00,000 4) liquidation expense ₹ 8,000 5) liquidator's remuneration ₹. 1,20,000 (₹.60,000 at 2.5 % on assets realised and ₹.60,000 at 5%on unsecured creditors including preferential creditors ) Prepare liquidator's statement of Receipts and Payments.? has been provided alongside types of Sunset Ltd. went into a voluntary liquidation, position of the company on that date was as follows: 1) 4,00,000 equity shares of ₹.10 each, ₹. 8 paid up per share 2) 6,00,000 equity shares of ₹.10 each, ₹. 5 paid up per share 3) Fully Secured Creditors ₹. 5,72,000, Preferential Creditors ₹. 2,00,000 13% Debentures ₹. 8,00,000 4) liquidation expense ₹ 8,000 5) liquidator's remuneration ₹. 1,20,000 (₹.60,000 at 2.5 % on assets realised and ₹.60,000 at 5%on unsecured creditors including preferential creditors ) Prepare liquidator's statement of Receipts and Payments.? theory, EduRev gives you an ample number of questions to practice Sunset Ltd. went into a voluntary liquidation, position of the company on that date was as follows: 1) 4,00,000 equity shares of ₹.10 each, ₹. 8 paid up per share 2) 6,00,000 equity shares of ₹.10 each, ₹. 5 paid up per share 3) Fully Secured Creditors ₹. 5,72,000, Preferential Creditors ₹. 2,00,000 13% Debentures ₹. 8,00,000 4) liquidation expense ₹ 8,000 5) liquidator's remuneration ₹. 1,20,000 (₹.60,000 at 2.5 % on assets realised and ₹.60,000 at 5%on unsecured creditors including preferential creditors ) Prepare liquidator's statement of Receipts and Payments.? tests, examples and also practice B Com tests.
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