Following is the Balance Sheet of Ramji Lal and Panna Lal as at 31st March, 2024:

Following is the Balance Sheet of Ramji Lal and Panna Lal as at 31st March, 2024:

Liabilities	₹	Assets	₹
Capitals: Ramji Lal Panna Lal	16,000 10,000	Goodwill	4,000
Reserves	3,600	Machinery	6,000
Workmen Compensation Reserve	2,000	Plant	12,800
Creditors	5,400	Debtors 10,800 Less: Provision 800	10,000
Bills Payable	2,600	Bank	6,800
	39,600		39,600

  They decided to dissolve the firm. Assets are realised as follows: (i) Machinery 10% less than book value; Plant ₹ 12,500 and Goodwill ₹ 2,520. (ii) Ramji Lal is to take over Debtors amounting to ₹ 6,800 at ₹ 6,000, remaining Debtors were realised for 90% of the book value. (iii) One bill of ₹ 600 under discount having been dishonoured had to be taken up by them. (iv) The Bill payable of ₹ 2,600 to be assumed by Panna Lal at that figure. (v) Creditors are paid off at a discount of 10%. (vi) An amount of ₹ 2,500 had to be paid for Workmen Compensation. (vii) The liquidation expenses amounted to ₹ 400. You are required to show the Realisation Account, Capital Accounts and Bank Account. [Ans. Loss on Realisation ₹ 3,740; Amount paid to Ramji Lal ₹ 9,930; Amount paid to Panna Lal ₹ 12,530; Bank Account Total ₹ 30,820.] Hint: Entire amount of Workmen Compensation Reserve of ₹ 2,000 will be credited to Realisation Account.