Following is the balance sheet of Manish Ltd., as on 31^st December 2011.

The preference shares were redeemed on 1^st January 2012 at a premium of ₹2 per share, whereabouts of the holders of 1,200 such shares not being known. At the same time, a bonus issue of equity shares was made at par, one share being issued for every three shares held out of the capital redemption reserve account. Draw up the journal entries to record the above transactions and show the balance sheet after redemption.

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Liabilities Share Capital: Authorised: 20,000 6% Redeemable Preference Shares of 10 each 70,000 Equity Shares of 10 each Issued & Subscribed: 16,000 6% Redeemable Preference Shares of 10 each 39,000 Equity Shares of 10 each, fully paid Reserves and Surplus: Profit & Loss A/c Sundry Creditors 2,00,000 7,00,000 9,00,000 1,60,000 3,90,000 2,00,000 92,000 8,42,000 Assets Fixed Assets Current Assets 5,20,000 3,22,000 8,42,000