122 Total 16.000 Note: (0) Wages or Salaries payable to any employee due for the period not exceeding 4 months within the twelve months next before commencement winding up subject to maximum 20,000 per claimant are preferential creditors. (1) Rent for godown is not included in preferential creditors. illustration 1 X Ltd. was ordered to be wound up on March 31st, 2011 on which date its summarised balance sheet was as follows: Liabilities 3 Assets Subscribed Capital 10,000 shares of 100 each 10,00,000 Goodwill 1,00,000 5% Debentures 1,60,000 Building 3,50,000 Interest Accrued 4,000 1,64,000 Plant 5,50,000 (Secured by floating Fixtures 23.000 charge on all assets) Stock 38.000 Bank Overdraft 25,000 Debtors 25,000 (Secured by hypothecation of stock) Cash 500 Trade payables 36.000 P&L A/C 1.38.500 12.25.000 Total 12,25,000 The amounts estimated to be realised are: Goodwill * 1,000; Building 3,00.000; Plant 5,25,000; Fixtures 10,000: Stock 7 31.000; Debtors > 20,000. Creditors included 6,000 on account of wages of 15 men at