A, B and C give you the following Balance Sheet as on 31.12.2017.The partners shared profits and losses in the ratio of 4:2:3. The firm was dissolved on December 31, 2017 and you are given the following information:

(a) C had taken a loan from Insurers for ₹5,000 on the security of the Joint Life Policy. The policy was surrendered and insurers paid a sum of ₹10,200 after deducting ₹5,000 for C’s loan and ₹300 interest thereon.

(b) One of the creditors took some of the patents whose book value was ₹6,000 at a valuation of ₹4,500. The balance to that creditor was paid in cash.

(c) The firm had previously purchased some shares in a joint stock company and had written them off on finding them useless. The shares were now found to be worth ₹3,000 and the loan creditor agreed to accept the shares at this value.

(d) The remaining assets realized the following amounts:

(e) The liabilities were paid and a total discount of ₹500 was allowed by the creditors.

(f) The expenses of realisation amounted to ₹2,300. Prepare the Realisation Account, Bank Account and the Partners’ Capital Accounts

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Liabilities Loan A/c ---- A Capital A/c - A Capital A/c - B Capital A/c C Sundry Creditors Loan on hypothecation of stock Joint Life Policy Reserve ₹ 15,000 Plant & Machinery at cost 30,000 Fixture & Fittings 10,000 Stock Assets 2,000 Debtors 17,800 Less: Provision for bad debts 6,200 Joint Life Policy 12,400 93,400 Patents and Trade Marks Bank 18,400 400 ₹ 30,000 2,000 10,400 18,000 15,000 10,000 8,000 93,400