X Ltd. went into liquidation. Its assets realized Rs.1,75,000, excluding the amount realized by sale of securities held by the secured creditors. The following was the position:
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Share Capital 5,000 Shares of Rs.10 Each
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Secured Creditors (Securities Realized Rs.20,000)
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17, 500
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Preferential Creditors
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3,000
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Unsecured Creditors
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70,000
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Debentures Having a Floating Charge on the Assets of the Company
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1,25,000
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Liquidation Expenses
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2,500
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Liquidator's Remuneration
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3,750
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Prepare the liquidator's final statement of account.