Following was the Balance Sheet of B Ltd. as on 31.3.2016:The company undertook following scheme of reconstruction:

(a) Equity shares were to be reduced to shares of ₹ 50 each fully paid.

(b) Preference shares were to be converted into 7% Preference shares of ₹ 70 each fully paid.

(c) Sundry creditors agreed to give up 1/5th of their claims provided they are paid-off immediately.

(d) 5,000 Equity shares of ₹ 50 each were to be issued for cash.

(e) Expenses on reconstruction were to be ₹ 7,500.

(f) The company decided

(i) To write-off Goodwill, Profit and Loss Account, Patents;

(ii) To write-down Plant and Machinery by ₹ 45,000 and Inventories by ₹ 20,000;

(iii) To create a provision for doubtful debts @ 5%. Give Journal Entries and prepare Balance Sheet giving effect to the scheme of reconstruction.

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I. EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital (b) Reserves and Surplus ---Profit and Loss (2) Share Application Money Pending Allotment : (3) Non-current Liabilities: (a) Long-term Borrowings - Secured Loan (4) Current Liabilities: Balance Sheet of B Ltd. as at 31st March, 2016 (a) Short-term Borrowings --- Bank Loan (b) Trade Payables-- Sundry Creditors TOTAL II. ASSETS (1) Non-current Assets: (a) Fixed Assets (i) Tangible Assets: (2) Current Assets: TOTAL Particulars (1) Land and Buildings Plant and Machinery (ii) Intangible Assets -- Goodwill Patents (a) Current Investments (b) Inventories (c) Trade Receivables -- Debtors (d) Cash and Cash Equivalents -- Cash at Bank Note No. (2) (1) Amount (₹) (3) 11,00,000 (2,30,000) 50,000 1,05,000 1,25,000 11,50,000 4,50,000 2,50,000 1,50,000 45,000 1,35,000 90,000 30,000 11,50,000