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Please answer this Illustration 6: Manasa and Preeti were partners in a firm. On 1 April, 2019 the Balance Sheet of their firm was as

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Illustration 6: Manasa and Preeti were partners in a firm. On 1" April, 2019 the Balance Sheet of their firm was as under: Balance Sheet as at 1* April 2019 Liabilities Amount Assets Amount Capital Accounts: Goodwill 54,000 Manasa 1,35,000 Plant & Equipment 67,500 Preeti 45,000 1,80,000 Factory Building 72,000 Reserve Fund 36,000 Sundry Debtors 99,000 Mr. Manasa's Loan 22,500 Less: PBDD 9.000 90,000 Sundry Creditors 1,00,000 Stock 1,12,500 Bank Overdraft 57,500 3,96,000 3,96,000 The firm was dissolved on the above date. The following transactions took place i) Manasa undertook to pay Mr. Manasa's loan with interest of Rs 1,500. And took over 50% of the stock at a discount of 20%. ii) Sundry debtors realized Rs 81,000; balance of the stock was sold at a profit of 30% on cost. iii) Plant & Equipment realized Rs 1, 12,500 and building Rs 2, 70,000. C5 Scanned with CamScanneriv) Preeti took over the goodwill of the firm at a valuation of Rs 30,000. v) Sundry creditors were paid out at a discount of 15%. vi) Realiation expenses were Rs 3,125 Prepare: i) Realisation Account ii) Partners Capital Account iii) Bank Account CS Scanned with Camscanner

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