during the year there were unrecorded assets purchased for rs 20 000 50 of the asset 609148

A, B, C and D are partners of a firm. A gets one-fourth share in profits. The other partners shared the balance equally. The following is their Balance Sheet as on Mar 31, 20–.

The partnership was dissolved on the date of Balance Sheet on the following terms:

1. On that day it was found that a liability for purchase of goods of Rs 40,000 had been omitted to be recorded and that the goods had been included in stock.
2. The assets realised as Plant and Machinery Rs 1,20,000; Furniture and Fixtures Rs 36,000; Debtors Rs 42,000 and Stock Rs 60,000.
3. The creditors including the unrecorded creditors were paid in full. There was a contingent liability in respect of bills discounted for Rs 7,000.
4. During the year there were unrecorded assets purchased for Rs 20,000. 50% of the assets were handed over to the vendor of the asset (also unrecorded) in full settlement of his claim. The remaining 50% were sold for Rs 8,000.
5. The realisation expenses amounted to Rs 7,700.
6. B is insolvent and can contribute only Rs 4,700.
7. The contingent liability did not materialise.

Prepare Realisation Account, Cash Account and partner’s Capital Accounts.