The following is the Balance Sheet of X Ltd. as at 31st March, 2018 :On 1st April, 2018, Y Ltd. took over the business of X Ltd. in an amalgamation in the nature of merger. Y Ltd. will issue 1,00,000 equity shares of ₹10 each at par. Y Ltd. redeemed the debentures at par and paid ₹10,000 as expenses of amalgamation Prepare necessary Ledger Accounts to close the books of X Ltd. Also pass the required journal entries in the books of Y Ltd.

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I. EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital (b) Reserves and Surplus (2) Share Application Money Pending Allotment: (3) Non-current Liabilities: (a) Long-term Borrowings-12% Debentures (4) Current Liabilities: (a) Trade Payables --- Creditors TOTAL II. ASSETS (1) Non-current Assets: (a) Fixed Assets Balance Sheet of X Ltd. as at 31st March, 2018 (i) Tangible Assets (2) Current Assets: (a) Inventories (b) Trade Receivables (c) Cash and Cash Equivalents Particulars (1) Note No. (2) ମୂଷି (2) (3) Amount (₹) (3) 10,00,000 3,90,000 1,50,000 2,10,000 17,50,000 10,20,000 4,50,000 2,50,000 30,000