.

5. Following is the extract of the Balance Sheet of Madhu Ltd.as at 31st March, 2020 Authorized capital: 45,000 12% Preference shares of 10 each 4,50,000 6,00,000 Equity shares of 3 10 each 60,00.000 64,50,000 Issued and Subscribed capital: 36,000 12% Preference shares of 3 10 each fully paid 3,60,000 4,05,000 Equity shares of 10 each, 8 paid up 32,40,000 Reserves and surplus: General Reserve 5,40,000 Capital Redemption Reserve 1,80,000 Securities premium (collected in cash) 1,12,500 Profit and Loss Account 9,00,000 On 1st April, 2020, the Company has made final call @ 72 each on 4,05,000 equity shares. The call money was received by 20th April, 2020. Thereafter, the company decided to capitalize its reserves by way of bonus at the rate of one share for every four shares held by utilizing the balance of profit and loss account to the minimum extent. You are required to prepare necessary journal entries in the books of the company and prepare the relevant extract of the balance sheet as on 30th April, 2020 after bonus issue