2. Below is the Statement of Financial Position of Rambo Berhad as at 31 December 2019. The directors decided to draw up a scheme of capital reduction. RM Land and Building 100,000 Motor Vehicles 50,000 Plant 50,000 Inventories 50,000 Trade Receivables 40,000 290,000 Ordinary Shares of RM1 each 300,000 Accumulated Loss _(180,000) 120,000 Trade Payables 80,000 Bank Overdraft 90,000 290,000 The following values are for the company's assets: As a going concern (Value in Use) RM Land and Building 100,000 Motor Vehicles 40,000 Plant 30,000 Inventories 50,000 Trade Receivables 40,000 If liquidate (Selling Price) RM 100,000 20,000 30,000 5,000 30,000 Additional information: (i) Ordinary shares were reduced to 30 sen each fully paid up and the existing ordinary shareholders have agreed to take up two fully paid ordinary shares every one held. (ii) Part of the cash raised by this issue is to be used to settle the bank overdraft. (iii) A special resolution was passed, and the approval of the court was obtained for the scheme of capital reduction. You are required to prepare the journal entries and the Statement of Financial Position of Rambo Berhad immediately after the capital reduction. 2. Below is the Statement of Financial Position of Rambo Berhad as at 31 December 2019. The directors decided to draw up a scheme of capital reduction. RM Land and Building 100,000 Motor Vehicles 50,000 Plant 50,000 Inventories 50,000 Trade Receivables 40,000 290,000 Ordinary Shares of RM1 each 300,000 Accumulated Loss _(180,000) 120,000 Trade Payables 80,000 Bank Overdraft 90,000 290,000 The following values are for the company's assets: As a going concern (Value in Use) RM Land and Building 100,000 Motor Vehicles 40,000 Plant 30,000 Inventories 50,000 Trade Receivables 40,000 If liquidate (Selling Price) RM 100,000 20,000 30,000 5,000 30,000 Additional information: (i) Ordinary shares were reduced to 30 sen each fully paid up and the existing ordinary shareholders have agreed to take up two fully paid ordinary shares every one held. (ii) Part of the cash raised by this issue is to be used to settle the bank overdraft. (iii) A special resolution was passed, and the approval of the court was obtained for the scheme of capital reduction. You are required to prepare the journal entries and the Statement of Financial Position of Rambo Berhad immediately after the capital reduction