the expenses of dissolution amounted to rs 400 you are required to prepare realisati 609132

P, Q and R sharing profit in the ratio of 3:1:1 decided to dissolve their firm on Mar 31, 2010, their position was as follows:

It is agreed that:

1. P is to take over all the furniture at Rs 2,000 and debtors amounting to Rs 40,000 at Rs 36,000. P also agrees to pay the creditors.
2. Q is to take over all the stock at book value and some of the sundry assets Rs 14,400 (being book value less 10%).
3. R is to take over the remaining sundry assets at 90% of the book value and assume responsibility for the discharge of the loan.
4. The remaining debtors were taken by a debt collecting agency at 80% of the book value.
5. The expenses of dissolution amounted to Rs 400. You are required to prepare Realisation Account, Bank Account and Capital Accounts of the Partners.