The following is the summarised balance sheet of a company: 

For the purpose of redemption of preference shares, the company made a fresh issue of 4,500 equity shares of ₹10 each, at a premium of 10%. The preference shares were redeemed at a premium of 10%. Show journal entries and prepare the balance sheet after redemption.

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Liabilities Share Capital: 10% Redeemable Preference Shares of 100 each 50,000 Equity Shares of 10 each, fully paid General Reserve Capital Reserve Creditors 1,00,000 5,00,000 1,00,000 50,000 1,50,000 9,00,000 Assets Sundry Assets Cash at Bank (3) 8,10,000 90,000 9,00,000