Ramesh and Umesh were partners in a firm sharing profits in the ratio of their capitals. On 31st March, 2013, their Balance Sheet was as follows:

( Rs.)
( Rs.)
Workmen Compensation Reserve  2,10,000Debtor Rs.2,40,000
General Reserve2,00,000Stock1,30,000
Ramesh’s Current Account80,000Furniture2,00,000
Capital A/c :Machinery9,30,000
Ramesh 7,00,000Umesh’s Current Account50,000
Umesh 3,00,00010,00,000 
 16,60,000 16,60,000

On the above date the firm was dissolved.
(a) Ramesh took over 50% of stock at Rs. 10,000 less than book value. The remaining stock was sold at a loss of Rs. 15,000. Debtor Rs. were realised at a discount of 5%.
(b) Furniture was taken over by Umesh for Rs. 50,000 and machinery was sold for Rs. 4,50,000.
(c) Creditors  were paid in full.
(d) There was an unrecorded bill for repay Rs. for Rs. 1,60,000 which was settled at Rs. 1,40,000. Prepare Realisation Account.


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