16.470 3.281 23.780 Cash Ac (Final Payment) By Realisation Alc (Profit) 2.670 1.780 59,670 63,780 59,670 63,780 D CASH ACCOUNT Rs. Particulars Cr Particulars To Balance bid To Realisation A/C (Debtors) To Realisation Alc (Investments) Rs. 36,000 By Realisation Alc 84,000 89.250 (Trade Creditors) By Capital Accounts 9,500 Aadi 16.470 Aalam 23.780 40.250 1.29,500 1.29,500 ILLUSTRATION 18 (Contingent liability in respect of bills discounted): Black, White and Grey were carrying on a business and sharing profits and losses in the ratio of 2:2:1. They dissolved their firm as on 31 December, 2010. On that date their Balance Sheet was as follows: BALANCE SHEET as at 31.12.2010 Labilities Rs. Rs. Assets Trade Creditors 40,600 9.000 Cash 32,000 Reserve Fund 20,000 Spare Parts Investments 22,000 16,000 Investment Fluctuation Reserve 20.000 Capital Accounts - Debtors 60.600 Leasehold 30,000 30,000 6.000 K33 Black White Grey Provision for Doubtful Debts 66,000 1,000 1,43,600 1,43,600 to R$ 6,000 All Assets (except Cash and Investments) were taken over by a company for Rs 1,30,000. The Investments were sold at Rs 22,600. Trade Creditors at Rs 39,000. Realisation Expenses amounted Mr. Blue has become insolvent, a dividend of 50% was received from his estate NOTE: A bill was received from Mr. Blue worth Rs 2,000, which was under discount, now as Prepare Realisation Account Partners' Capital Account and Cash Account ale White and Grey