K35 3.287 ILLUSTRATION 22 (Preparation of ledger accounts): Khalil, Khateeb and Khalam, who were sharing profits in the ratio of 2:2:1, decided to dissolve their partnership firm on December 31, 2010 and their Balance Sheet on that date stood as: BALANCE SHEET as at 31.12.2010 Liabilities Rs. Assets Rs. Capitals Accounts: - Plant 40,000 Khalil 30,000 Stock 25,000 Khateeb 20,000 Sundry Debtors 15,000 Khalam 10.000 60,000 Loan 4,000 Creditors 3,000 Bank Overdraft 13,000 80.000 80,000 It was agreed that (0) Ram to discharge Loan and to take Debtors at book value. (6) Khalil realised Rs.45,000. (I) Stock realised Rs.24,000. (iv) Creditors were due on average basis, one month after 31" December, but were paid immediately on 31 December at 6% discount per annum. Show Realisation Account, Partners' Capital Accounts and Bank Account Whatooh and Khalam