Mm; Samuel Ltd went into voluntary liquidation on 30June 2010, its summarised statement of nancial position then being: Samuel Ltd Statement of Financial Position As at 30 June 2018 Liabilities and Equity Assets Share capital: l50,000 shares $ 300,000 Land and Buildings 5' 435,000 fully paid less occum depreciation {220.0001 Retained earnings 20,000 2|5,000 Equipment loan |80.000 Equipment (carrying amt} 092,000 Accounts payable 73,000 Cash at Bank 32,500 Either payables 62,000 Inventories |03,000 Accounts receivable 02,500 3 635,000 $ 635,000 The assets were realised by the liquidator as follows: Land and Buildings $220,000 {before selling expenses of $22,000} Inventories 95,000 Accounts receivable 35,500 Other Payables allowed $11,000 discount, Accounts payable were paid in full. Other costs included liquidation costs of $0,500; Liquidator's remuneration $25,000; Employee entitlements $9,500. The mortgage holder sold the equipment for $203,000