Required:

• Do the necessary entries?
• Prepare the following accounts: liquidation account, shareholders account, the bank?
• How much each share get from the net result of the liquidation.

Assets		Liabilities
Fix Assets	6,500,000	Issued and authorized capital (50,000 shares with a par value of 100 BHD per share)	5,000,000
Current Assets	5,200,000	Reserves	4,000,000
Bank	300,000	Creditors	3,000,000
Total Assets	12,000,000	Total liabilities	12,000,000

It was liquidated as follows:

• Fixed assets were sold for 6,300,000 BHD.
• liquidator obtained from the current assets the amount of 7,400,000 BHD.
• Liquidation expenses and liquidator fees amounted to 130,000 BHD.