A, B and C are partners sharing profits and losses in the ratio of 4 : 2 : 1. On 31st March, 2024, their Balance Sheet was as follows:

A, B and C are partners sharing profits and losses in the ratio of 4 : 2 : 1. On 31st March, 2024, their Balance Sheet was as follows:

Liabilities	₹	Assets	₹
Sundry Creditors	35,400	Goodwill
Mrs. B’s Loan	15,000	Leasehold Premises
Capital Accounts: A B C	1,30,000 1,02,700 5,000	Plant and Machinery
		Stock
		Sundry Debtors 30,000 Less: Provision 700	29,300
		Cash at Bank	17,700
		Profit & Loss A/c	8,400
	2,88,100

  It was decided to dissolve the firm, A agreeing to take over the business (except Cash at Bank) at the following valuations: Leasehold Premises at ₹ 60,000. Plant and Machinery at ₹ 12,000 less than the book value. 1/4th stock at 33 and 1/3% more than its book value. Remaining stock at 20% more than the book value. Sundry Debtors subject to a provision of 5%. Mrs. B’s Loan was paid in full and the creditors were proved at ₹ 32,000 and were taken over by A. Expenses of dissolution came to ₹ 900. Prepare necessary accounts to close the books of the firm and prepare the Balance Sheet of A. [Ans. Loss on Realisation ₹ 49,000; Cash brought in by A ₹ 81,300 and By C ₹ 3,200; Cash paid to B ₹ 86,300; Total of Bank A/c ₹ 1,02,200; B/S Total ₹ 2,10,500.]