Samuel Ltd went into voluntary liquidation on 30 June 2018, its summarised statement of financial position then being:

Samuel Ltd Statement of Financial Position As at 30 June 20 | 8 Liabilities and Equity Assets Share capital: l50,000 shares 15 300,000 Land and Buildings $ 435,000 fully paid less accum depreciation (220.000) Retained earnings 20,000 2|5,000 Equipment loan |80,000 Equipment (carrying amt) I92,000 Accounts payable 73,000 Cash at Bank 32,500 Other payables 62,000 Inventories I08,000 Accounts receivable 87,500 $ 635,000 $ 635,000