PROBLEM11 Following particulars relate to a limited company which has gone into Voluntary liquidation. You are required to prepare the Liquidator's Final Account allowing for his remuneration @ 3% on the amount realised and 2% on the amount paid to the unsecured creditors. Share Capital issued : 1,000 preference shares of 100 each (fully paid) 20,000 equity shares of 10 each (fully paid) 4,000 equity shares of 10 each (80% paid) Assets realised 3,08,000 excluding amount realised by sale of securities held by the secured creditors. Secured Creditors (security realised ? 54,000) 46,000 Unsecured Creditors 2,83,698 Preferential Creditors 8,000 Debentures having a floating charge on the assets 1,00,000 Expenses of liquidation amounted to 3,000. A call of 2 per share on the partly paid equity shares was duly paid except in case of one shareholder owing 400 shares