The Balance Sheet of Producers Ltd as at 31st December, 2016 is as follows:

You are required to give the journal entries, including those relating to cash to record the above transactions and draw up the Balance Sheet as it would appear after redemption of preference shares.

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I. EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital (b) Reserves and Surplus (c) Money Received against Share Warrants (4) Current Liabilities: Balance Sheet of Producers Ltd. as at 31st December, 2016 (2) Share Application Money Pending Allotment: (3) Non-current Liabilities: (a) Short-term Borrowings (b) Trade Payables TOTAL II. ASSETS (1) Non-current Assets: (a) Fixed Assets (2) Current Assets: (1) Tangible Assets (a) Current Investments (b) Inventories TOTAL (c) Trade Receivables (d) Cash and Cash Equivalents Particulars (1) Note No. (2) EN (3) Amount (₹) (3) 1,40,000 55,000 - 30,000 2,25,000 1,32,000 28,000 30,000 15,000 20,000 2,25,000