Anup and Suntit are equal partners in a firm. They decided to dissolve the parutership on December 31, 2014. When the balance sheet is as under
The Assets were realised as follows:
| Lease hold land |
Rs. 72,000 |
| Furniture |
Rs. 22,500 |
| Stock |
Rs. 40,500 |
| plant |
Rs. 48,000 |
| Sundry Debtors |
Rs. 10,500 |
The Creditors were paid Rs. 25,500 in full settlement. Expenses of Realisation amount to Rs. 2,500.
Prepare Realisation Account, Bank Account, Partners Capital Accounts to close the books of the firm.
