The summarised Balance Sheet of Siliguri Transport Co. Ltd. as on 31st March, 2016 was as follows:

A scheme of capital reduction was duly approved and adopted. The Equity Shares were reduced to the same number of shares each of ₹5 and 5% Debentures converted into the same number of 6% Debentures of ₹75 each. The amount thus realised was utilised to write-off the debit balances of Profit and Loss Account and Goodwill Account, to reduce Plant and Machinery by ₹ 13,000; Furniture and Fixtures by ₹2,000; Stock by ₹6,000 and to create a Provision for Sundry Debtors at 10%. Show the necessary Journal Entries to give effect to the scheme of reconstruction and a Balance Sheet after reconstruction.

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Balance Sheet of Siliguri Transport Co. Ltd. as at 31st March, 2016 Note No. (2) I. EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital -- 20,000 Equity Shares of 10 each (b) Reserves and Surplus-Profit and Loss Account (2) Share Application Money Pending Allotment : (3) Non-current Liabilities: (a) Long-term Borrowings- 1,000, 5% Debentures of 100 each (4) Current Liabilities: (a) Short-term Borrowings (b) Trade Payables - Sundry Creditors Bills Payable TOTAL II. ASSETS (1) Non-current Assets: (a) Fixed Assets Particulars (1) TOTAL (i) Tangible Assets: Land and Building Plant and Machinery Furniture and Fixtures (ii) Intangible Assets -- Goodwill (2) Current Assets: (a) Inventories (b) Trade Receivables --Sundry Debtors (c) Cash and Cash Equivalents-Cash at Bank Amount (3) 2,00,000 (80,000) 1,00,000 30,000 10,000 2,60,000 70,000 85,000 8,000 20,000 35,000 40,000 2,000 2,60,000