QUESTION 38 Following items appear in the Trail Balance of Star Ltd. as on 31st March, 2019: Particulars 80,000 Equity shares of 10 each. 78 paid-up Capital Reserve (including 745,000 being profit on sale of Machinery) Revaluation Reserve Capital Redemption Reserve Securities Premium General Reserve Profit & Loss Account (Cr. Balance) 6,40.000 1,10,000 80,000 75,000 60.000 2.10.000 1,00,000 On 1st April 2019, the Company has made final call on Equity shares @ 2 per share. The entire money was received in the month of April, 2019. On 1st June, 2019, the Company decided to issue to Equity shareholders bonus shares at the rate of 2 shares for every 5 shares held and for this purpose, it was decided that there should be minimum reduction in free reserves. Pass necessary journal entries in the Books of Star Ltd