X, Y and Z carrying on business as merchants and sharing profits and losses in the ratio of 2 : 2 : 1, dissolved their firm as at 31st March, 2019 on which date their Balance Sheet was as follows:

Sundry Creditors      41,500Cash at Bank22,500
Bills Payable20,000Stock80,000
Bank Loan         40,000Debtors 50,000
General Reserve50,000Less: Provision for Doubtful Debts (2,500)47,500
Investments Fluctuation Reserve   40,000Investments55,000
Capital A/c : Premises1,51,500
 X 75,000  
 Y 75,000  
 Z 25,0001,75,000 
   3,66,500 3,56,500  

A bill for Rs. 5,000 received from Mohan discounted from bank is not met on maturity.
The assets except Cash at Bank and Investments were sold to a company which paid Rs. 3,25,000 in cash. The Investments were sold and Rs. 56,500 were received. Mohan proved insolvent and a dividend of 50% was received from his estate. Sundry Creditors (including Bills Payable) were paid Rs. 57,500 in full settlement. Realisation Expenses amounted to Rs. 15,000.
Prepare Realisation Account, Partners’ Capital Accounts and Bank Account.


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