Amount Amount Particulars Balance bid Realisation Rs Particulars 32,000 Realisation 3,05,000 Sanjay's Capital Ale Tarun's Capital Alc Rs 1.10,000 87,650 79,567 Q13: The following is the Balance Sheet of Gupta and Sharma as on December 31,2006: Balance Sheet of Gupta and Sharma as on December 31, 2006 n 40 Amount Amount Liabilities Rs Assets Sundry Creditors 38.000 Cash at Bank Mrs. Gupta's loan 20,000 Sundry Debtors Mrs.Sharma's loan 30,000 Stock Reserve fund 6,000 Bills Receivable Provision of doubtful debts 4.000 Machinery Capital Investment Gupta 90,000 Sharma 60.000 1.50,000 2.48,000 Rs 12.500 55.000 44,000 19.000 52.000 38,500 27,000 Fixtures 2,48,000 The firm was dissolved on December 31, 2006 and asset realised and settlements of liabilities as follows: (a) The Realisation of the assets were as follows: Sundry Debtors Stock Bills receivable Machinery Rs 52.000 42,000 16,000 49,000 (b) Investment was taken over by Gupta at agreed value of Rs 36,000 and agreed to pay of Mrs. Gupta's loan. (c) The Sundry Creditors were paid off less 3% discount. (d) The Realisation expenses incurred amounted to Rs 1,200. Journalise the entries to be made on the dissolution and prepare Realisation Account, Bank Account and Partners Capital Accounts