3. Br. Dr. 40.000 Realisation Ale To Bank Ale (Compensation paid to the employees) 40,000 4. Dr 30.600 30.600 Realisation AC To Bank A/c (Creditors amounting Rs 36,000 were settled at a discount of 15%) [36,000 X (85/100) 5. Arti's Capital A/C Karim's Capital A/C To Realisation Alc Dr Dr. 18.000 24,000 42.000 (Loss on Realisation transferred to Partners' Capital Account) n36 06: Rose and Lily shared profits in the ratio of 2:3. Their Balance Sheet on March 31, 2006 was as follows: Balance Sheet of Rose and Lily as on March 31, 2006 Amount Amount Rs 16,000 Liabilities Creditors Lily's loan Profit and Loss Rs Assets 40.000 Cash 32,000 Debtors 50,000 Less: Provision for doubtful Debts 80,000 3,600 76,400 Capitals: Lily Rose 1.09,600 1,60,000 Inventory 2.40,000 Bills Receivable Buildings 5,22,000 40,000 2,80.000 5.22.000 Rose and Lily decided to dissolve the firm on the above date. Assets (except bills receivables) realised Rs 4,84,000. Bills Receivable were taken over by Rose at Rs 30,000. Creditors agreed to take Rs 38,000. Cost of Realisation was Rs 2,400. There was a Motor Cycle in the firm which was bought out of the firm's money, was not shown in the books of the firm. It was now sold for Rs 10,000. There was a contingent liability in respect of outstanding electric bill of Rs 5,000, Bill Receivable taken over by Rose at Rs 33,000. Show Realisation Account, Partners Capital Account Loan Account and Cash Account