Question 2: Corona Limited went into voluntary liquidation on 31st May 2020. Its summarized statement of financial position then being as follows: (shown on in the image) Required:

Prepare the following ledger accounts:

1. Liquidation Account

2. Cash at bank account

3. Shareholders' Distribution Account

Case Study 3 (15%) - Word TABLE TOOLS ? X FILE HOME INSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS REVIEW VIEW DESIGN LAYOUT Sign in 16 Cut Times New Ro * 12 - A A Aa - AaBbCcI AaBbCcI AaBbC(AaBbCcC AdB| AaBbCCC AaBbCCD AaBbCCD Find Paste BB Copy "ac Replace Format Painter B I U - abe X, x' A - Z - A - 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em... Emphasis 41 4 Select - Clipboard G Font Paragraph Styles G Editing # . . . I . . . 1 #8 0 . | . . . # . . 1 . . #8 3 . . . 1 . #4 4 . . . 1 . . . 5 #8 . . 1 . . . # . . 1 . . # . . . Current Assets $ Current $ Liabilities Receivables Creditors 20,000 8,000 Less: provision for doubtful 3,000 5,000 debts Inventory 12,000 Cash Equity 4,000 21,000 Share capital: Non-current 120 000 asset shares issued 120,000 at a price of $1 Land Less: calls in 20,000 arrears 14,000 106,000 Less: accumulated 5,000 15,000 depreciation Plant 100,000 less 10,000 90,000 105,000 accumulated depreciation 126,000 126,000 PAGE 2 OF 3 300 WORDS DE ENGLISH (UNITED STATES) + 82% 8:49 AM + Type here to search WE 24-Jun-20