A and B dissolve their partnership. Their position as at 31st March, 2019 was:

Particulars Rs.
A’s Capital   25,000
B’s Capital   15,000
Sundry Creditors   20,000
Cash in Hand and at Bank        750

The balance of A’s Loan Account to the firm stood at Rs. 10,000. The realisation expenses amounted to Rs. 350. Stock realised Rs. 20,000 and Debtors Rs. 25,000. took a machine at the agreed valuation of Rs. 7,500. Other fixed assets realised Rs. 20,000.
You are required to close the books of the firm.


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