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Eproblem No. §, Bihe following .s the Balange Sheet of Laxmi Co, Ltd, as on 31% March, 2019, Liabilities _ Rs, Assets, , } — ————s — », | 2.00,000 Equity Shares of | 20,00,000 Goodwill, , , , , , , , , , , , , , , , , , , , , , , , , , Rs, 10 each fully paid Patents & Trade Mark, , | 10,000 6% Cumulative Pref. | 10,00,000 | Land & Buildings, , | Shares of Rs. 100 each fully Plant & Machinery, Stocks, , , , , , , paid, Bank Overdraft, Sundry Creditors, , Sundry Debtors, Preliminary Exp, Commission on Issue of shares, , Alc, , 7,00,000, , , , , , , ly paid value of Rs. 50 each and to, , accept Equity Shares of Rs. 5 each fully paid in lieu of the dividend in arrears., duced to a fully paid value of Rs. 5 each., , The Equity Shareholder agree that their shares be re, , The authorized capital of the company is to remain at Rs. 30,00,000 divided into 4.00,000 Equity Shares, of Rs.5 each and 20,000; 6% Cumulative Preference Shares of Rs. 50 each., , All the intangible assets are to be eliminated and bad debts of Rs. 50,000 and, , ., , ; 80,000 are to be written off., Give J ournal entries necessary to reco, the scheme has been implemented., , absolute Stocks of Rs., , rd the reduction of Capital and draw Up @ new Balance Sheet after