PROBLEM 4 Following particulars relate to a Limited Company which has gone into rohintary liquidation. You are required to prepare the Liquidator's Statement of Account allowing for his remuneration @ 2% on all assets realized excluding call money received and 2% on the amount paid to unsecured creditors including preferential creditors. Share capital issued : 10,000 Preference Shares of # 100 each fully paid up. 50,000 Equity Shares of 7 10 each fully paid up. 30,000 Equity Shares of 7 10 each, 78 paid up. Assets realized 20,00,000 excluding the amount realized by sale of securities held by partly secured creditors. Preferential creditors 50,000 Unsecured creditors 18,00,000 Partly secured creditors (Assets realized 3.20,000) 3,50,000 Debentureholders having floating charge on all assets of the company 6,00,000 Expenses of liquidation 10,000 A call of 72 per share on the partly paid equity shares was duly received except in case of one shareholder owning 1,000 shares. Also calculate the percentage of amount paid to the unsecured creditors to the total unsecured creditors