Following is the Balance Sheet of Arvind and Balbir as at 31st March, 2019:

LiabilitiesAmount ( Rs.)AssetsAmount ( Rs.)
Trade Creditors45,000Cash750
Bills Payable12,000Bank12,000
MR. Arvind’s Loan7,500Stock7,500
MR. Balbir’s  Loan15,000Investments15,000
Reserve Fund15,000Book Debts 30,000
Investments Fluctuation  Reserve1,500Less: Provision for Doubtful Debts (3,000)27,000
Capital A/c : Building 22,500
Arvind 15,000 Plant30,000
Balbir 15,00030,000Goodwill6,000
   Profit and Loss A/c5,250
 1,26,000 1,26,000

The firm was dissolved on the above date under the following arrangement:
(a) Arvind promised to pay off MR. Arvind’s Loan and took Stock at Rs. 6,000.
(b) Balbir took half the Investments @ 10% discount.
(c) Book Debts realised Rs. 28,500.
(d) Trade Creditors and Bills Payable were due on average basis of one month after 31st March, but were paid immediately on 31st March @ 2% discount per annum.
(e) Plant realised Rs. 37,500; Building Rs. 60,000; Goodwill Rs. 9,000 and remaining Investments Rs. 6,750.
(f) An old typewriter, written off completely from the firm’s books, now estimated to realise Rs. 450. It was taken by Balbir at this estimated price.
(g) Realisation expenses were Rs. 1,500.
Show Realisation Account, Capital Accounts of Partners and Bank Account.


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