Suma and Reema are partners sharing profits and losses in the ratio of 2:1 Their Balance + Sheet as on 31/03/2022 is as follows:
Liabilities Sundry Creditors Bills payable Suma's Loan Reserve Fund Capitals: Suma Reema 12,000 Cash at Bank 20,000 Bills Receivable L 7,000 36,000 (-)PDD Assets 1,00,000 Sundry Debtors 45,000 5,000 Investments | 50,000 Furniture Machinery Vehicle P/L A/C+ 10,000 10,000 40,000 15,000 20,000 25,000 90,000 - 15,000 2,25,000 2,25,000 On the above date the firm was dissolved.
a) The assets were realized as follows: Bills-Receivable 8,500, Sundry Debtors 42,000, Investments 18,000, Machinery *20,000 and Furniture 18,000.
b) Vehicle was taken over by Suma at *82,000.
c) Dissolution expenses were *3000
d) All the liabilities were discharged in full Prepare:
a) Realisation Account,
b) Partners' Capital Accounts,
c) Bank Account.