Here is a compilation of top three problems on liquidation of companies with its relevant solutions. Problem 1: The Ultra Optimist Ltd. went into liquidation. Its assets realised Rs 3, 50,000 excluding amount realised by sale of securities held by the secured creditors. The following was the position: Share Capital: 1,000 shares of Rs 100 each Rs 1,00,000 Secured [...]
In this article we will discuss about:- 1. Meaning of Liquidation 2. Liquidation and Insolvency 3. Consequences of Winding Up. Meaning of Liquidation: The word 'Liquidation' has not been used anywhere in the Companies Act, 1956. It is the word 'winding up' which has been used in this Act. By winding up of a Company, we mean, "Winding up of [...]
Are you looking for problems and solutions on liquidation of companies? You are in the right place! In this article we have compiled six selected accounting problems on liquidation of companies with its relevant solutions. Contents: Preparation of Liquidator’s Statement of Account Preparation of Liquidator's Cash Account and Liquidator's Final Statement of Account Preparation of Statement of Affairs and Deficiency [...]