28 :- A and B are partners in a firm sharing profits and losses in the ratio of 3:2. On 31st March, 2025 their Balance Sheet was as follows :
The firm was dissolved on 31st March, 2025 and both the partners agreed to the following :
(a) A took investments at an agreed value of Rs 8,000. He also agreed to settle loan by Mrs. A.
(b) Other assets realised as : Stock – Rs 5,000; Debtors – Rs 18,500; Furniture — Rs 4,500; Plant – Rs 25,000.
(c) Expenses of realisation came to Rs 1,600.
(d) Creditors agreed to accept Rs 37,000 in full settlement of their claims.
Prepare Realisation account, Partner’s capital account and Bank account.
Solution :-
