Prakash Kiran and Rishab are partners in the firm sharing profits and losses in the ratio of 3:2:1. The details of there Balance Sheet as at 31st March ,2016 stood as follows . ASSETS : Cash at Bank Rs 2,000 ,Debtors ( 20,000-2,000 provision for Bad Debts ) Rs 18,000 . Stock Rs 25,200 . Investments Rs 20,000 Bills Receivable Rs 8,000 . Machinery Rs 60,000 . Goodwill Rs 6,000 . Profit & Loos A/c Rs 19,800 Rishab's Capital A/c Rs 11,000 : LIABILITIES : Creditors Rs 25,000 .Bills Payable 10,000 General Reserve Rs 27,000. Workmen's Compensation Fund Rs 3,000 . Mrs Prakash's loan Rs 5,000 .Capitals, Prakash Rs 60,000 Kiran Rs 40,000 . On the above date the firm was dissolved and the following transactions took place : (i) The assets were sold off for the following amounts. (ii) Kiran took over bill receivable at Rs 7,000 and the Bills Payable at book value. (iii) There was an unrecorded asset of Rs 4,000 which was sold for Rs 1,200 .(iv) Prakash agreed to pay off wife's loan. (v) A contingent liability for a bill discounted at Rs 8,000 was settled by Prakash .(vi) Creditors were settled for discount of 10% and goodwill realised Rs 5,000. (vii) Realisation expenses were Rs 2,100 which were met by Kiran. You are required to prepare Realisation A/c, Partners Capital A/c, Bank A/c and state the total of Bank A/c. *
1,17,600
2,35,800
9,00,100
5,00,000
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Ques is incomplete. However with the following figures the ans will be 39433
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