Answered step by step
Verified Expert Solution
Question
1 Approved Answer
solve it Question 99: Liquidation of YZ Ltd. commenced on 2nd April, 2018. Certain creditors could not receive payments out of the realisation of assets
solve it
Question 99: Liquidation of YZ Ltd. commenced on 2nd April, 2018. Certain creditors could not receive payments out of the realisation of assets and out of the contributions from A list contributories. The following are the details of certain transfers which took place in 2017 and 2018: Shareholders No. of Date of Ceasing to be a Creditors remaining unpaid Shares member and outstanding on the date of such transfer transferred 2,000 1st March, 2017 5,000 1,500 1st May, 2017 33,300 Q 1,000 1st October, 2017 4,300 R 500 1st November, 2017 34,600 S 300 1st February, 2018 6,000 All the shares were of 10 each, 58 per share paid up. You are required to compute the amount to be realized from the various persons listed above ignoring expenses and remuneration to liquidator etc. PStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started