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Problem No. 2, , The following 1s the Balance Sheet of Bad — Luck Ltd:, , - ‘The Following resolution were passed the scheme was duly approve, , , , , Liabilities i, “Subscribed Capital : Goodwill, 40,000 10% Preference Share | 4,00,000 | Other Fixed Assets, of Rs.10 each Stock, 4.000 Equity Shares of Rs. 100 | 4,00,000 Debtors, each Profit & Loss A/c, Creditors, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , d by the court :, , a) Equity shares of Rs. 100 each be reduced to fully paid up shares of Rs. 50 each., , b) 10% Preference shares of Rs. 10 each be reduced to 8% Preference shares of Rs. 6 each fully paid v, c) Goodwill and debit balance of Profit & Loss Account be fully written off., , d) The balance of the amount be used to write off other fixed assets ., , Pass Journal Entries, , 2 oe Rehame of Re-orvanisation