X, Y and Z were in partnership sharing profits and losses in the ratio of 7 : 2 : 1 and the Balance Sheet of the firm stood on 31st March, 2024, as under

X, Y and Z were in partnership sharing profits and losses in the ratio of 7 : 2 : 1 and the Balance Sheet of the firm stood on 31st March, 2024, as under:-

Liabilities	₹	Assets	₹
Creditors	3,142	Cash in Hand	244
Provision for Depreciation on Machinery	4,000	Debtors	1,746
Capital Accounts: X Y Z	3,582 2,720 16,124	Stock	3,498
		100 Shares in B Co. Ltd 60 Shares in C Co. Ltd.	2,000 480
		Patents	7,600
		Machinery	6,000
		Buildings	5,000
		Goodwill	3,000
	29,568		29,568

  On 31st March, 2024, it was decided to dissolve the firm on the following terms: (i) X is to take over the buildings at ₹ 7,300. (ii) Y, who will continue with business, to take over Goodwill, Stock and Debtors at book values, Patents at ₹ 6,500 and Machinery at ₹ 1,500. He also agreed to pay the creditors. (iii) Z agreed to take the shares in C Co. Ltd at ₹ 5 each. (iv) The shares in B Co. Ltd. to be divided in profit sharing ratio. Show the ledger accounts to record the dissolution. [Ans. Gain on realisation ₹ 520; Cash brought in by X ₹ 4,754 and Y ₹ 10,678; Final Payment to Z ₹ 15,676: Total of Cash A/c ₹ 15,676.]