Balance Sheet of a firm as at 31st March 2019 when it was decided to dissolve the same was Liabiliti...........

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Balance Sheet of a firm as at 31st March, 2019, when it was decided to dissolve the same, was:

Liabilities		Amount	Assets	Amount
Sundry Creditors		14,000	Cash at Bank	640
General Reserve		500	Stock	4,740
Capital A/cs:			Debtors	5,540
X	4,000		Machinery	10,580
Y	3,000	7,000

		21,500		21,500

19,500 were realised from all assets except Cash at Bank. The cost of winding up came to 440. X and Y shared profits in the ratio of 2 : 1 respectively. Prepare Realisation Account and Capital Accounts of Partners.

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