Bale and Yale are equal partners of a firm. They decide to dissolve their partnership on 31st March, 2019 at which date their Balance Sheet stood as:

Liabilities Rs.Assets Rs.
Capital A/c : Building45,000
Bale 50,000 Machinery15,000
Yale 40,00090,000Furniture12,000
General Reserve 8,000Debtor Rs.8,000
Bale’s Loan A/c 3,000Stock24,000
Creditors 14,000Bank11,000
  1,15,000 1,15,000

(a) The assets realised were:
Stock  Rs. 22,000; Debtor Rs. 7,500; Machinery  Rs. 16,000; Building  Rs. 35,000.
(b) Yale took over the Furniture at Rs. 9,000.
(c) Bale agreed to accept Rs. 2,500 in full settlement of his Loan Account.
(d) Dissolution Expenses amounted to  Rs. 2,500.
Prepare the:
(i) Realisation Account;    (ii) Capital Accounts of Partners;
(iii) Bale’s Loan Account; (iv) Bank Account.


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