Rekah and Chetana sharing profits as 3 :1 and they agree upon dissolution. The balance sheet as on 31 March, 2018 is as under :
Additional information:
(a) Rekah took over plant and Machinery at an agreed value of Rs. 12,000.
(b) Stock and furniture were sold for f 8,400 and Rs. 2,780 respectively.
(c) Debtors were taken over by Chetana at Rs. 13,000.
(d) Liabilities were paid in full by the firm.
(e) Realisation expenses were Rs. 320.
Prepare:
(a) Realisation A/c
(b) Partners’ Capital Accounts and
(c) Bank A/c
