A , B and C who were sharing profits in the ratio of 3:2:1 decided to dissolve the firm on 31st March, 2025 when their Balance Shet was as follows:…

Realisation Account Particulars Particulars To Sundry Assets – Transfer: By Creditors 51,000 Debtors 93,000 By bank A/c – Assets Realised: Stock 55,500 Machinery 1,23,000 Tools 12,000 Car 37,500 Car 18,000 Debtors 88,500 Machinery 90,000 Tools 7,500 Building 1,50,000 4,18,500 Building 1,26,000 To bank A/c (outstanding Salary) 12,000 Goodwill 90,000 4,72,500 To gain (Profit) on realization transferred to By B’s Capital A/c (Old Furniture) 12,000 A’S Capital A/c 54,000 By A’s Capital A/c Unrecorded Asset 3,000 B’s Capital A/c 36,000 C’s Capital A/c 18,000 1,08,000 5,38,500 5,38,500 Partners Capital Accounts Particulars A (₹) B (₹) C (₹) Particulars A (₹) B (₹) C (₹) To Realisation A/c 3,000 12,000 By Balance b/d 1,80,000 1,35,000 90,000 To Bank A/c 2,31,000 1,59,000 1,08,000 By Realisation A/c (Gain) 54,000 36,000 18,000 2,34,000 1,71,000 1,08,000 2,34,000 1,71,000 1,08,000 Bank Account Particulars ₹ Particulars ₹ To Balance b/d 37,500 By Realisation A/c (Outstanding Salary) 12,000 To Realisation A/c Assets Realised 4,72,500 By A Capital A/c 2,31,000 - By B Capital A/c 1,59,000 - By C Capital A/c 1,08,000 5,10,000 5,10,000 Note: Since the stock is taken over by creditors, no entry is passed for such payment.