Glowworm Ltd went into voluntary liquidation on 30 June 2024. The statement of financial position prepared on that date is as follows. GLOWWORM LTD Statement of financial position as at 30 June 2024 Current assets Cash $ 32 000 Inventories 126 000 Accounts receivable $ 72 200 Less: Allowance for doubtful debts (8 200 ) 64 000 Non-current assets Plant and equipment 336 000 Less: Accumulated depreciation - plant and equipment (70 400 ) 265 600 Land 181 200 Shares in listed companies 104 000 Total assets 772 800 Current liabilities Accounts payable 86 400 Other payables 32 200 Non-current liabilities Mortgage on land 170 000 Debentures 300 000 Total liabilities 588 600 Net assets $ 184 200 Equity Share capital: Preference: 40 000 shares, issued at $1, fully paid 40 000 Ordinary 'A' 50 000 shares, issued at $1, fully paid 50 000 Ordinary 'B' 40 000 shares, issued at $1, called to 60c 24 000 114 000 General reserve 14 000 Retained earnings 56 200 Total equity $ 184 200 Additional information 

• Liquidator's remuneration and expenses amounted to $3600. 

• Other payables of $32 200 comprised the following. Salary & wages payable (12 000 + 4 000) $ 16 000 Director's salary-balance 1 600 Annual leave payable 8 800 Telephone bill payable 1 800 Income tax payable 4 000

 • The debentures are secured by a circulating security interest over the company's assets. 

• The mortgage holder took possession of the land and sold it for $163 400. 

• Other assets realized the following amounts. Inventories $ 108 000 Accounts receivable 52 000 Plant and equipment 268 000 Shares in listed companies 122 000 

• Uncalled capital (if required to be called up) is recoverable. 

• Preference shareholders are preferential as to dividends and return of capital. The constitution does not provide any further rights for preference shareholders. 

• In relation to return of capital, Ordinary 'A' shareholders and Ordinary 'B' shareholders rank equally after preference shareholders. 

Required 

Prepare the ledger accounts for liquidation as shown below:

 (Note: the template of ledger account is provided. You can choose to copy the tables, create tables, or provide the account information without table lines.)

 i) Liquidation account. 

ii) The Liquidator's Receipts and Payments. 

iii) The Shareholders' Distribution account.  Liquidation Liquidator's Receipts and Payments