The following scheme of capital reduction was duly sectioned by the tribunal : (a) Equity shares to be reduced 90 each. (b) Preference shares to be reduced 90 each. (c) The debentureholders to waive their outstanding interest. (d) One equity share 5 paid will be issued for every 100 of preference dividend which was in arrear for two years. (e) Securities premium and all intangible assets to be written off. (f) Both tvos of fixed assets to be reduced nronortionatelv bv the halance available. You are required to give journal entries and prepare balance sheet after capital reduction. The following scheme of capital reduction was duly sectioned by the tribunal : (a) Equity shares to be reduced 90 each. (b) Preference shares to be reduced 90 each. (c) The debentureholders to waive their outstanding interest. (d) One equity share 5 paid will be issued for every 100 of preference dividend which was in arrear for two years. (e) Securities premium and all intangible assets to be written off. (f) Both tvos of fixed assets to be reduced nronortionatelv bv the halance available. You are required to give journal entries and prepare balance sheet after capital reduction