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Sid the liquidator has been appointed to wind up Sunk Pty Ltd. He finds that the company has the following assets and liabilities as shown
Sid the liquidator has been appointed to wind up Sunk Pty Ltd. He finds that the company has the following assets and liabilities as shown below. Assets Shop Stock $900,000 $ 20,000 ANZ Credit $ 10,000 Car I $ 10,000 Total Assets $940,000 Liabilities Mortgage over the shop Liquidators Expenses Wages owing owing to unsecured creditors Total Liabilities $910,000 $ 10,000 $ 30,000 $40,000 $990,000 Liarman Bros Bank has the mortgage over the shop and wants to know how much will be distributed to them based on these assets and liabilities
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