Following is the Balance Sheet of Deepak and Jyoti, who were sharing profit and losses in the ratio of 3 : 2, as at March 31, 2024

Following is the Balance Sheet of Deepak and Jyoti, who were sharing profit and losses in the ratio of 3 : 2, as at March 31, 2024:-

Liabilities	₹	Assets	₹
Creditors	38,000	Cash	1,500
Mrs. Deepak’s Loan	10,000	Bank	10,000
Bank Loan	15,000	Debtors 20,000 Less: Provision for Doubtful Debts 1,000	19,000
Capital A/cs: Deepak Jyoti	10,000 8,000	Stock	12,000
Current A/cs: Deepak Jyoti	2,000 500	Furniture	6,000
	83,500	Plant	30,000
		P & L A/c (Dr. Balance)	5,000
	83,500		83,500

  The firm was dissolved on that date and the following arrangements were made:- (I) Assets realised as follows: Debtors ₹ 18,000; Furniture ₹ 5,500; Plant ₹ 32,000. (ii) Deepak agreed to take over stock in full settlement of his wife’s loan. (iii) Creditors were paid at 2% discount and Bank Loan was discharged along with interest due for six months @ 10% p.a. and (iv) Expenses of realisation amounted to ₹ 1,800. Show the necessary ledger accounts to close the books of the firm. [Ans. Loss on Realisation ₹ 3,290; Final Payments : Deepak ₹ 7,026 and Jyoti ₹ 5,184; Total of Cash/Bank A/c ₹ 67,000.]