Question

The extracted Balance Sheet of Ms. KITAN LTD. as on 31 December 2004 a under Liabilities Asta 10% Preference share of R10 Equity Shares of R10 each Land E. Balding 10.000 10% Convertible Debeures of 4.00.00 32000 svestments 3.0080 Stock 50.000 Dobro Bank Overdraft Sandry Creditor Bill Pay the Proton for Tax 2200 25.000 26.70.000 Profit and The scheme of reconstruction an approved by the court was esconder Each casting Equity share will be written down from R10 to R4, Each canting 10% Preference share is to be written down R10R of which 4 will be presented by 12% Preference share and RA by Faunty share Each contable de care is to be exchanged for R 50 of non-convertible 106 dichemars 35 of 129. Prderence shares and R 15 of Equity shares The IDBI agreed to apply for R: 5.65000 of Equity are paying cash in fillon 5 The reduction of capital and reserve are to be applied in climinating fictitious acts and balanced to be writing down the Land and Building and Investments in the patien Give journal entries regarding reduction, prepare Capital Reduction account​

Answer 1

Answer:

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