|Investments Fluctuation Reserve||4,500||Debtors 7,100|
|Capital A/cs:||Less: Provision for Doubtful Debtors (450)||6,650|
|Q 15,000||52,550||R’s Capital A/c||8,000|
|Plant and Machinery||30,000|
P took over Investments for Rs. 12,500. Stock and Debtors realised Rs. 11,500. Plant and Machinery were sold to Q for Rs. 22,500 for cash. Unrecorded assets realised Rs. 1,500. Realisation expenses paid amounted to Rs. 900. Prepare necessary Ledger Accounts to close the books of the firm.