P, Q and R wee partners sharing profit & losses in the ratio of 3:2:1. They decided to dissolve the business as on 31st Mrach, 2024 when their…

P, Q and R wee partners sharing profit & losses in the ratio of 3:2:1. They decided to dissolve the business as on 31st Mrach, 2024 when their Balance Sheet was as follows: Liabilities Amount (₹) Assets Amount (₹) Capital A/c: Land & Building 4,85,000 P 3,55,000 Machinery 1,88,000 Q 2,20,000 Furniture 1,05,000 R 1,25,000 Stock 55,800 7,00,000 Trade Debtors 1,56,000 General Reserve 1,50,000 Cash & Bank 44,200 Employees Provident Found 60,000 Trade Creditors 1,24,000 10,34,000 10,34,000 The following information is given to you: (i) There was an unrecorded investment which was sold for 30,000. (ii) One of the creditors agreed to take over some items of furniture of Book value - 25,000 at 24,000. The rest of the creditors were paid at a discount of 5%. (iii) Out of the trade debtors - 9,000 proved bad, remaining were fully realized. (iv) The other assets were realised as under: Land & Building - 5,25,000Machinery 1,70,000Furniture Remaining taken over by P at 75,000Stock - 60,000 (v) Expenses of dissolution amounted to 18,700. (vi) There was an outstanding bill for repairs which had to be paid for 3,500. You are required to prepare: (1) Realisation A/c (2) Cash & Bank A/c (3) Partner’s Capital A/c in the books of partnership firm.