Ltd. has the following assets and liabilities as on 31.3.2017: Liabilities Assets Share Capital Fixed Assets 22,00,000 Issued, Subscribed and fully paid-up Current Assets 8,00,000 10,000 Equity Shares of 100 each 10,00,000 5,000 Preference Shares of 100 each 5,00,000 Capital Reserve (revaluation profit) 1,00,000 Securities Premium A/C 1,00,000 General Reserve 2,00,000 Profit & Loss A/C 1,00,000 Current Liabilities 10,00.000 30,00,000 30,00,000 The Preference Shares are to be redeemed at 10% premium. Fresh issue of equity shares is to be made to the extent it is required under the Companies Act for the purpose of this redemption. The shortfall in funds for the purpose of the redemption after utilizing the proceeds of the fresh issue are to be met by taking a bank loan. Show Journal Entries