QUESTION 72 The following extract of Balance Sheet of X Ltd. (a non-investment company) was obtained: Balance Sheet (Extract) as on 31st March, 2017 Liabilities Rs. Issued and subscribed capital: 20,000, 14% preference shares of Rs. 100 each fully paid 20,00,000 1,20,000 Equity shares of Rs. 100 each, Rs. 80 paid-up 96,00,000 Capital reserves (Rs. 1,50,000 is revaluation reserve) 1,95,000 Securities premium 50,000 15% Debentures 65,00,000 Unsecured loans: Public deposits repayable after one 3,70,000 year Investment in shares, debentures, etc. 75,00,000 Profit and Loss account (debit balance) 15,00,000 You are required to compute Effective Capital as per the provisions of Schedule V to Companies Act,2013