A, B and C are in partnership sharing profits and losses in the proportions of 1/2, 1/3 and 1/6 respectively. On 31st March, 2019, they decided to dissolve the partnership and the position of the firm on this date is represented by the following Balance Sheet:

Creditors40,000Cash at Bank3,000
Loan A/c: Stock50,000
A10,000Sundry Debtors50,000
Workmen Compensation Reserve21,000Land and Building57,000
Capital A/c : Profit and Loss A/c15,000
 A  60,000 Advertisement Suspense A/c6,000
 B 40,000  
 C 10,0001,10,000 
 1,81,000 1,81,000

During the course of realisation, a liability under a suit for damages is settled at Rs. 20,000 as against Rs. 5,000 only provided for in the books of the firm.
Land and Building were sold for Rs. 40,000 and the Stock and Sundry Debtors realised Rs. 30,000 and Rs. 42,000 respectively. The expenses of realisation amounted to Rs. 1,200.
There was a car in the firm, which was completely written off from the books. It was taken by A for Rs. 20,000. He also agreed to pay Outstanding Salary of Rs. 20,000 not provided in books.
Prepare Realisation Account, Partners’ Capital Accounts and Bank Account in the books of the firm.


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