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 2018 Liabilities and Equity Assets Share capital: 150,000 shares $ 300,000 Land and Buildings $ 435,000 fully paid less accum depreciation (220,000) Retained earnings 20,000 215,000 Equipment loan 180,000 Equipment (carrying amt) 192,000 Accounts payable 73,000 Cash at Bank 32,500 Other payables 62,000 Inventories 108,000 Accounts receivable 87,500 $ 635,000 $ 635,000