Question 5 (a) Citrine Limited went into voluntary liquidation on 31stMarch, 2023. The following balances were extracted from its books as on that date: ₹ Property, Plant and Equipment5,15,000 Inventory4,50,000 Trade receivables1,85,000 Bank balance90,000 Profit & Loss A/c (Dr. balance)3,61,000 Trade payables2,75,000 Outstanding Expenses (including Bank interest)76,000 7% Bank loan (secured by floating charge)3,60,000 2,500 12% cumulative Preference shares of ₹100 each, fully paid2,50,000 4,000 Equity shares of ₹100 each, fully paid4,00,000 4,000 Equity shares of ₹100 each, ₹60 paid up2,40,000 Other information: (i) On 1st April, 2023 the liquidator sold Citrine Limited's Property, Plant and Equipment for ₹3,98,200 and Inventory for ₹4,10,100 and the consideration satisfied as ₹7,55,800 in cash and the balance in 8% Debentures of ₹100 each of the purchasing company issued to the liquidator at a premium of 5%. (ii) Trade Receivables were realized for ₹1,41,700. (iii) The Bank loan was fully paid on 30th April, 2023 along with interest from 1st October, 2022. (iv) Trade payables were paid after 4% discount and outstanding expenses excluding bank interest were settled for ₹24,000. (v) Six month's interest on debentures was received on 30th September 2023. (vi) Liquidation expenses amounting to ₹32,800 and liquidator's remuneration of 2% on assets realized except cash were paid on 30th September, 2023. (vii) Preference Dividends were in arrears for 2 years. (viii) Preference shareholders were paid out in cash. (ix) The debentures of Citrine Limited and the balance of cash were distributed rateably among equity shareholders. (x) Calls on partly paid shares were made but the amount due on 500 shares was found to be irrecoverable. You are required to prepare the Liquidator's Statement of Account showing the distribution. (b) Adriti Bank Limited provides you with the following information as on 31st March, 2023: in Lakhs Cash Credit1836 Term Loans1532 Fixed Deposits581 Current Accounts1234 Saving Accounts1852 Bill Discounted835 Additional Information: (i) Cash Credits include a doubtful account of ₹15 lakhs (including interest of ₹1.5 lakhs) (ii) 25% of Cash Credits are unsecured, 50% of Term Loans are secured by Government Guarantees, and other portion is secured by Tangible Assets. (iii) Current Account includes accounts overdrawn to the extent of ₹136 lakhs. (iv) Required Cash Reserve Ratio is 4% and Liquid Reserve Ratio is 25% of demand and time liabilities. You are required to: (i) Show the above Ledger balances in the relevant schedules in the Financial Statements of the Adriti Bank Limited; and (ii) Calculate the amount of Cash Reserve and Statutory Liquid Reserve required to be maintained. (10 + 10 = 20 Marks)