Jay Ltd. submits the following data extracted from the Final Accounts as on 31 March, 2023: Equity Share Capital 50,000 Equity shares of 10 each…

Jay Ltd. submits the following data extracted from the Final Accounts as on 31 March, 2023: Equity Share Capital 50,000 Equity shares of 10 each Profit & Loss (Dr. balance) (50,000) 9% Debentures 2,00,000 Loan from Bank 3,00,000 Advance given to suppliers of goods 45,000 Provision for tax 14,000 Plant & Machinery 4,50,000 Furniture & Fixtures 85,000 Investment in Star Ltd. 1,25,000 10,000 equity shares of 10 each Sundry Debtors 70,000 Cash & Bank Balance 65,500 Additional information given by Jay Ltd.: On 31 March, 2023 Jay Ltd. decided to reconstruct the company for which necessary resolution was passed. Accordingly, it was decided that: (a) 9% Debentures to be settled in full by issuing them 15,000 Equity shares of 10 each. (b) Equity shareholders will give up 40% of their capital in exchange for allotment of new 11% Debentures of 1,00,000. (c) Balance of Profit & Loss to be written off. (d) Equity shares issued for 1,00,000. In addition to above, following information was also presented by Jay Ltd. on 1st April, 2023: (a) Interest is received on advances given to suppliers of goods - 3,000. (b) Taxation liability is settled at 14,000. (c) A debtor of 40,000 is insolvent, only 40% of his dues are recovered from his estate. (d) Dividend is received on Investment in Star Ltd.1 per equity share invested. (e) Part of Plant and Machinery is sold at a loss of 3,000 (book value - 15,000) Based on the information given in above Case Scenario, answer the following Question No. 11-14: