600 400 Illustration 12. A Z Ltd. took over the business of X Ltd. and Y Ltd. The summarised Balance Sheets of Z Ltd., X Ltd. and Y Ltd. as on 31 March, 2017 are given below: Rin Lakhs) Liabilities Z Ltd. X Ltd. Y Ltd. Assets Z Ltd. X Ltd. Y Ltd. 3 Share Capital Fixed Assets: Equity shares of 100 each 800 750 Land and Building 550 400 12% Preference shares of ? 100 1,000 300 200 plant and Machinery 350 250 each Reserves and Surplus: Investments 150 50 Revaluation Reserve 200 150 Current Assets. Loans and Advances: General Reserve 600 170 150 Stock 500 350 Profit and Loss Account 30 Sundry Debtors 300 250 Secured Loans: Bills Receivables 50 50 10% Debentures (100 each) 30 Cash and Bank 200 300 200 Current Liabilities and Provisions: Sundry Creditors 400 270 120 Bills payables 150 70 Total 2,000 2,000 1,500 Total 2,000 2,000 1,500 250 50 300 60 Additional Information: (1) 10% Debenture holders of X Ltd. and Y Ltd., are discharged by Z Ltd., issuing such number of its 15% Debentures of 100 each, so as to maintain the same amount of interest. (2) Preference shareholders of the two companies are issued equivalent number 15% preference shares of Z Ltd. at a price of 3150 per share (face value of 2100). (3) Z Ltd. will issue 5 equity shares for each equity share of X Ltd. and 4 equity shares for each equity share of Y Ltd. The shares are to be issued