A14. Appu, Abhi and Akash were partners in a firm sharing profit and l

A14. Appu, Abhi and Akash were partners in a firm sharing profit and losses in theratio of 2:1:1. Their Balance Sheet on the date of dissolution was as follows:Balance Sheet as on 31.3.2018Liabilities₹Assets₹Creditors20,000 Bank8,000Loan from Appu5,000 Debtors20,000Loan from Akshay2,000 Stock25,000P&L A/c6,000 Furniture10,000CapitalsAppu20,000 Machinery15,000Abhi15,000Akash10,00078,00078,000The following information is available:a) The assets were realized as follows:Debtors realized at 10% less and stock realized 10% more than the bookvalueb) Furniture was taken over by Appu at an agreed value of 78000.c) Machinery was taken over by Abhi at' 12000.d) Creditors were paid off at a discount of 5% each.e) Cost of dissolution amounted to 3500Prepare: a. Realisation A/Cb. Partners Capital Accounts andc. Bank A/CTO solutions

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