C, D, E were partners in a firm sharing profits in the ratio of 3 :1:1.
Their Balance Sheet as at 31st March,2022 was as follows:
Balance Sheet of C, D and E as at 31st March, 2022
|C’s Loan||1,20,000||Cash at Bank||2,00,000|
On the above date the firm was dissolved due to certain disagreement among the partners:
(i) Machinery of 3,00,000 were given to creditors in full settlement of their account and remaining machinery was sold for ₹10,000.
(ii) Investments realised ₹2,90,000.
(iii) Stock was sold for ₹1,80,000.
(iv) Debtors for ₹20,000 proved bad.
(v) Realisation expenses amounted to ₹10,000.
Prepare Realisation Account.