1. Following is the extract of the Balance Sheet of Pol cab Electrical Ltd. as at 31st March, 2019.

Authorized Capital: Rs. 30,000 12% Preference shares of Rs. to each 3,00,000 3,00,000 Equity shares of Rs. 10 each 30,00,000 33,00,000 Issued and Subscribed capital: 24,000 12% Preference shares of Rs. to each fully paid 2,40,000 2,70,000 Equity shares of Rs. to each, Rs. 8 paid up 21,60,000 Reserves and surplus: General Reserve 3,60,000 Capital Redemption Reserve 1,20,000 Securities Premium (collected in cash) 75,000 Profit and Loss Account 6,00,000

On 1st April, 2019, the Company has made final call @ Rs. 2 each on 2,70,000 equity shares. The call money was received by 20th April, 2019. Thereafter, the company decided to capitalize its reserves by way of bonus at the rate of one share for every four shares held.

Show necessary journal entries in the books of the company and prepare the extract of the balance sheet as on 30th April, 2019 after bonus issue.

2. Omega company offers new shares of Rs. 100 each at 25% premium to existing shareholders on the basis one for five shares. The cum-right market price of a share is Rs.200.

You are required to calculate the (i) Ex-right value of a share; (ii) Value of a right share ?