432 3.280 ILLUSTRATION 17 (Partner and Creditor taking over Liabilities and Assets): Aadi and Aalam were partners sharing profits as 3:2, agreed upon the dissolution as on 31.12.2010. On that date Balance Sheet was: BALANCE SHEET as at 31" December, 2010 Rs. Liabilities Rs. Assets Creditors 1,05,000 Cash 24.000 Mrs. Shyam Loan 26,000 Goodwill 25,000 Stock Reserve 60.000 Stock Bills Payable 26,000 Debtors 88,000 Capitals: Less: Provision 8.000 80,000 Aadil 57,000 Plant 63.000 Aalam 38.000 95,000 Investments 10.000 36.000 2,75,000 2,75,000 It was agreed that: (0) Aadi to take 80% of Stock at 10% less. (11) Aalam to take remaining Stock at a discount of Rs 2,000 less than the book value. (1) Debtors realised Rs. 84,000 (iv) Trade Creditors were paid out at a discount of 15% (v) Aalam took responsibility of settling Mrs. Aalam's Loan and took Plant costing Rs. 33,000 at Rs. 30,000 (vi) Bills Payable were settled by giving the remaining plant at book value in fuil settlement of their claim (vii) Investments were sold for Rs.9.500. Prepare Realisation Account, Partners' Capital Accounts and Cash Account