3. The following particulars relate to a limited company which has gone into liquidation. You are required to prepare the Liquidator's Final Account allowing for his emuneration @ '2% on the amount realised on assets and 2% on the amount distributed to creditors other than preferential creditors: Unsecured Creditors 2,24,000 Preferential Creditors 70,000 Debentures 75,000 The assets realised the following sums: Cash in hand 20,000 Land and Buildings 1,30,000 Plant and Machinery 1,10,500 Fixtures and Fittings The liquidation expenses amount to $ 2,000. A call of $2 per share on the partly paid 10,000 equity shares was made and duly paid except in case of one shareholder owning 500 shares. 7500