P,Q and R are partners sharing profits and losses in the ratio of 1/4:1/4:1/2. They decided to dissolve their business on 31.3.2018, when their Balance Sheet was as follows:

P is insolvent. Realisations are to be distributed monthly to creditors and partners in the order of priority. Realisations monthwise were:

Prepare a statement showing distribution of cash and the capital accounts of the partners.

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P's Capital Q's Capital R's Current Liabilities Trade Creditors Secured Loan (secured on the fixed assets of the firm) Unsecured Loan Bank overdraft (secured against stock and book debts) ₹ 10,000 Fixed Assets 15,000 Stock 25,000 Debtors 20,000 Cash 10,000 20,000 20,000 1,20,000 Assets ₹ 82,000 15,000 18,000 5,000 1,20,000