Balance Sheet of P Q and R as at 31st March 2019 who were sharing profits in the ratio of 5 3 1 was ...........

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Balance Sheet of P, Q and R as at 31st March, 2019, who were sharing profits in the ratio of 5 : 3 : 1, was:

Liabilities	Amount	Assets		Amount
Bills Payable	40,000	Cash at Bank		40,000
Loan from Bank	30,000	Stock		19,000
General Reserve	9,000	Sundry Debtors	42,000
Capital A/cs:		Less: Provision for Doubtful Debts	2,000	40,000
P 44,000
Q 36,000		Building		40,000
R 20,000	1,00,000	Plant and Machinery		40,000

	1,79,000			1,79,000

The partners dissolved the business. Assets realised − Stock 23,400; Debtors 50%; Fixed Assets 10% less than their book value. Bills Payable were settled for 32,000. There was an Outstanding Bill of Electricity 800 which was paid off. Realisation expenses 1,250 were also paid.

Prepare Realisation Account, Partner's Capital Accounts and Bank Account.

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