Dev, Santosh and Arti were partners in a firm sharing profits and losses in the ratio of $\displaystyle 1$ : $\displaystyle 2$ : 2. On 31st March, $\displaystyle 2024$, their Balance Sheet was as follows : Balance Sheet of Dev, Santosh and Arti as at 31st March, $\displaystyle 2024$ Amount Amount Liabilities Assets ( ) $\displaystyle 2$ ( ) $\displaystyle 3$ Capitals : Plant and Machinery $\displaystyle 8,00,000$ Dev $\displaystyle 2,00,000$ Land and Building $\displaystyle 3,64,000$ Santosh $\displaystyle 4,00,000$ Debtors $\displaystyle 1,90,000$ Arti $\displaystyle 4,00,000$ Less : Provision for $\displaystyle 10,00,000$ Doubtful Debts $\displaystyle 10,000$ $\displaystyle 1,80,000$ Santosh's Loan $\displaystyle 3,40,000$ Stock $\displaystyle 4,40,000$ Mrs. Dev's Loan $\displaystyle 4,00,000$ Cash at Bank $\displaystyle 2,10,000$ Outstanding Salary $\displaystyle 34,000$ Creditors $\displaystyle 2,20,000$ $\displaystyle 19,94,000$ $\displaystyle 19,94,000$ On the above date the firm was dissolved and the following transactions took place : (i) Debtors were taken over by the creditors in full settlement of their account. (ii) Dev agreed to pay off Mrs. Dev's loan. (iii) $\displaystyle 50$% of the stock was taken over by Santosh at $\displaystyle 10$% less than the book value. The remaining stock was sold at a profit of $\displaystyle 20$%. (iv) Land and Building was taken over by Arti for ₹ $\displaystyle 10,00,000$ and Plant and Machinery was sold as scrap for ₹ $\displaystyle 1,70$,000. (v) Realisation expenses were $\displaystyle 40$,000. Prepare Realisation Account.

Dr. Realisation A/c Cr. Particulars Amount Particulars Amount ( ) ( ) To Sundry Assets: ($\displaystyle 1$) By Sundry Liabilities: ($\displaystyle 1$) Plant & Machinery $\displaystyle 8,00,000$ Mrs. Dev’s Loan $\displaystyle 4,00,000$ Land & Building $\displaystyle 3,64,000$ Outstanding Salary $\displaystyle 34,000$ Debtors $\displaystyle 1,90,000$ Creditors $\displaystyle 2,20,000$ Stock $\displaystyle 4,40,000$ $\displaystyle 17,94,000$ Provision for doubtful debts $\displaystyle 10,000$ $\displaystyle 6,64,000$ To Dev’s Capital A/c (½) $\displaystyle 4,00,000$ By Santosh’s Capital A/c (Stock) $\displaystyle 1,98,000$ (Mrs. Dev’s Loan) (½) To Bank A/c: ($\displaystyle 1$) By Arti’s Capital A/c (½) $\displaystyle 10,00,000$ Outstanding salary $\displaystyle 34,000$ (Land & Building) Realisation expenses $\displaystyle 40,000$ $\displaystyle 74,000$ By Bank A/c: ($\displaystyle 1$) To Profit transferred to: (½) Stock $\displaystyle 2,64,000$ Dev’s Capital A/c $\displaystyle 5,600$ Plant & Machinery $\displaystyle 1,70,000$ $\displaystyle 4,34,000$ Santosh’s Capital A/c $\displaystyle 11,200$ Arti’s Capital A/c $\displaystyle 11,200$ $\displaystyle 28,000$ $\displaystyle 22,96,000$ $\displaystyle 22,96,000$