Rs. Q10 The following is the Balance Sheet of Bad Dream Ltd, as on 30th September, 2020: Balance Sheet as on 30th September, 2020 Liabilities Assets Rs. Authorised Share Capital: Fixed Assets: 10,000 Equity Shares of Rs100 10,00,000 Land & Buildings 2,00,000 1,000 6% Preference Shares of Rs Plant & Equipment 300000 100 each 1,00.000 Furnitures 65000 Total 11,00,000 Patents 45,000 Issued capital: Sundry Debtors 149450 6,000 Equity Shares 6,00,000 Inventory 68950 1,000 6% Preference Shares of Rs Cash 3700 100 each 1,00,000 10% Debentures 1,00,000 Profit & loss A/C 3,07,900 Sundry Creditors 1,00,000 Bank Overdraft 2,40,000 TOTAL 11,40,000 TOTAL 11,40,000 A new Company Good Morning Ltd was formed to take over this company. The Authorized capital of the new company was Rs 15,00,000 divided into 1,00,000 Equity shares of Rs 10 each and 5,000 7% Preference shares of Rs 100 each. The terms and conditions agreed for this were as follows: (a) 10% debenture holders agreed to take new 9%Debentures of Rs.95,000 in full satisfaction. (b) 6% Preference shareholders were to receive 3 new 7% Preference shares of Rs.100 each for every 4 old preference shares. (e) The equity shareholders to receive 30,000 Equity shares of Rs.10 each, credited as Rs.8 paid up (d) Good Morning Ltd. to issue 20,000 equity shares of Rs.10 each at par for cash (e) Good morning Ltd. to make a call of Rs.2 per share on shares issued to Bad Dream Ltd. You are required to give necessary Ledger A/c s to close the books of Bad Dream Itd and Journal entries in the books of Good Morning Ltd and Balance Sheet of Good Morning Ltd. Rs. Q10 The following is the Balance Sheet of Bad Dream Ltd, as on 30th September, 2020: Balance Sheet as on 30th September, 2020 Liabilities Assets Rs. Authorised Share Capital: Fixed Assets: 10,000 Equity Shares of Rs100 10,00,000 Land & Buildings 2,00,000 1,000 6% Preference Shares of Rs Plant & Equipment 300000 100 each 1,00.000 Furnitures 65000 Total 11,00,000 Patents 45,000 Issued capital: Sundry Debtors 149450 6,000 Equity Shares 6,00,000 Inventory 68950 1,000 6% Preference Shares of Rs Cash 3700 100 each 1,00,000 10% Debentures 1,00,000 Profit & loss A/C 3,07,900 Sundry Creditors 1,00,000 Bank Overdraft 2,40,000 TOTAL 11,40,000 TOTAL 11,40,000 A new Company Good Morning Ltd was formed to take over this company. The Authorized capital of the new company was Rs 15,00,000 divided into 1,00,000 Equity shares of Rs 10 each and 5,000 7% Preference shares of Rs 100 each. The terms and conditions agreed for this were as follows: (a) 10% debenture holders agreed to take new 9%Debentures of Rs.95,000 in full satisfaction. (b) 6% Preference shareholders were to receive 3 new 7% Preference shares of Rs.100 each for every 4 old preference shares. (e) The equity shareholders to receive 30,000 Equity shares of Rs.10 each, credited as Rs.8 paid up (d) Good Morning Ltd. to issue 20,000 equity shares of Rs.10 each at par for cash (e) Good morning Ltd. to make a call of Rs.2 per share on shares issued to Bad Dream Ltd. You are required to give necessary Ledger A/c s to close the books of Bad Dream Itd and Journal entries in the books of Good Morning Ltd and Balance Sheet of Good Morning Ltd