20 :- Ramesh and Umesh were partners in a firm sharing profits in the ratio of their capitals. On 31st March 2025, their balance sheet was as follows :
On the above date the firm was dissolved.
(a) Ramesh took 50% of stock at Rs 10,000 less than book value.
(b) Furniture was taken by Umesh for Rs 50,000 and machinery was sold for Rs 4,50,000.
(c) Creditors were paid in full.
(d) There was an unrecorded bill for repairs forRs 1,60,000 which was settled and paid at Rs 1,40,000.
Prepare realisation account.
Solution :-
