Ram, Manas and Param are equal partners of M/S. Zindal & Co. The Balance Sheet of the firm as on 31.12.2018 was as follows: Liabilities Assets Capital Account: Fixed Assets: Ram 50000 Land 50000 Manas 100000 Building 70000 Param (30000) 120000 Plant & Machinery 200000 320000 Loan from bank 500000 Current Assets: Creditors 100000 Stock 300000 Debtors 100000 400000 720000 720000 On the date, it is decided to convert the partnership into limited company called Handal limited on the following items a. Land to be revalued at 150000 b. Plant and machinery is to be revalued at 250000. C. Depreciation amounting 20000 is to be written off on building. d. A provision of 10% books valued to be mate of obsolete stock. e. Provision of doubtful debts made at 10% of debtors. f. A discount of 6% would be earned on creditors when paid out. g. The new company issue * 12000 equity shares 10 each credited as full paid up, such share capital being valued at 150000 and the balance payable is to be discharge by issue of 10% debentures of 100 each. Show the necessary ledger Accounts to close the books of Zindal &co. and show the opening balance sheet of the new company. All partners are solvent and have sufficient cash resource as may be necessary to settle the respective accounts, Shares and debentures are divided equal