d) Hanif and Jubed were partners in a firm sharing profits in the ratio of their capitals. On 31st March, 2013 their balance sheet was as follows Liabilities Creditors Workmen's Compensation Fund General Reserve Hanif's Current A/c Capital A/c's Hanif Jubed Balance Sheet as at 31st March, 2013 10,00,000 5,00,000 Amt ( 1,50,000 Bank 3,00,000 Debtors 75,000 Stock 25,000 Furniture 15,00,000 20,50,000 Assets Machinery Jubed's Current A/c Amt 2,00,000 3,40,000 (iv)Expenses on realisation Rs 8,000 were paid by Hanif. Prepare Realisation account & Partners Capital A/c. e) What is Insurance? Depicting an example, show how insurance claims can be done. 1,50,000 4,60,000 8,20,000 80,000 20,50,000 On the above date the firm was dissolved (i)Debtors were realised at a discount of 5%, 50% of the stock was taken over by Hanif at 10% less than the book value. Remaining stock was sold for Rs 65,000. (ii) Furniture was taken over by Jubed for Rs 1,35,000. Machinery was sold as scrap for Rs 74,000. (iii) Creditors were paid in