Illustration 1 P, Q and R were partners sharing profits and losses in the ratio of 3: 2:1, no partnership salary or interest on capital being allowed. Their balance sheet on 30th June, 2006 is as follows: Liabilities Rs. Assets Rs. Fixed Capital Fixed assets: P 20,000 Goodwill 40,000 0 20,000 Freehold Property 8,000 R 10,000 50,000 Plant and Equipment 12,800 Current Accounts: Motor Vehicle 700 P 500 Current Assets Q 9.000 9,500 3,900 Loan P 8,000 Trade Debtors 2,000 Trade Creditors 12,400 Less : Provision 100 1,900 Cash at Bank 200 Misc. losses and Accounts R's Current Account 400 Profit and Loss Account 12,000 79,900 79.900 On 1st July, 2006 the partnership was dissolved. Motor Vehicle was taken over by Q at a value of Rs. 500 but no cash passed specifically in respect of this transaction Sale of other Stock 166 assets realised the following amounts: Rs Goodwill nil Freehold Property 7,000 Plant and Equipment 5,000 Stock 3,000 Trade Debtors 1,600 Trade Creditors were paid Rs. 11,700 in fully settlement of their debts. The costs of dissolution amounted to Rs. 1,500. The loan from P was repaid, P and Q were both fully solvent and able to bring in any cash required but R was forced into bankruptcy and was only able to pay his creditors 1/3 of the amount due. You are required to show : (a) Cash and Bank Account (b) Realisation Account, (c) Partners Fixed and Current Accounts