20,83 40,50017,55I PUC - Accountancy264Balance Sheet as on 31.3.2014AssetsLiabidesInvestmentsCapitals :Х30,000 Machinery20,000 Stock in trade214,00010,000 Joint life policyMrs. X's Loan10,000 Debtors9,300Creditors18,500 Less: PBD600 8,700Life policy fund14,000 P&L A/C1,500InvestmentCash at bank5,420Ductuation fund6,0001,08,5001,08,500The firm was dissolved on the above date.1) The Life policy surrendered for 12,000.-2) Investments are tallen over by Mr. X for 17,500.3) Mr. X agrees to discharge his wife's loan.4) Mr. Y takes over Debtors at 6.150.5) Machinery is realised for 55,000.6) It is found that an Investment not recorded in the books is worth 3,000The same is taken over by one of the creditors.7) Stock is realised for 15,000.8) Expenses of realisation amounted to 600.Prepare:a) Realisation A/c b) Partners' capital Accounts and c) Bank A/cSolution:

20,83 40,50017,55I PUC - Accountancy264Balance Sheet as on 31.3.2014

1.	20,83 40,50017,55I PUC - Accountancy264Balance Sheet as on 31.3.2014AssetsLiabidesInvestmentsCapitals :Х30,000 Machinery20,000 Stock in trade214,00010,000 Joint life policyMrs. X's Loan10,000 Debtors9,300Creditors18,500 Less: PBD600 8,700Life policy fund14,000 P&L A/C1,500InvestmentCash at bank5,420Ductuation fund6,0001,08,5001,08,500The firm was dissolved on the above date.1) The Life policy surrendered for 12,000.-2) Investments are tallen over by Mr. X for 17,500.3) Mr. X agrees to discharge his wife's loan.4) Mr. Y takes over Debtors at 6.150.5) Machinery is realised for 55,000.6) It is found that an Investment not recorded in the books is worth 3,000The same is taken over by one of the creditors.7) Stock is realised for 15,000.8) Expenses of realisation amounted to 600.Prepare:a) Realisation A/c b) Partners' capital Accounts and c) Bank A/cSolution:
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