X , Y and Z commenced business on 1st April , 2016 with capitals of ₹ 5,00,000 , ₹ 4,00,000 and ₹ 3,00,000 respectively . Profits and losses were shared in the ratio of ` 4 : 3 : 3`. Interest on Capitals was paid at 5 % p.a. During 2016-17 and 2017-18 they earned profit of ₹ 2,00,000 and ₹ 2,50,000 (before allowing interest on capital) . Drawings of each partner were ₹ 50,000 per year . On 31st March , 2018 the firm was dissolved . Creditors on that date were ₹ 1,20,000 . The assets realised ₹ 13,00,000 net .
Give necessary accounts to close the books of the firm .
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