Dev, Santosh and Arti were partners in a firm sharing profits and losses in the ratio of 1: 2: 2. On 31st March, 2024, their Balance Sheet was as…

Dr. Realisation A/c Cr. Particulars Amount Particulars Amount ( ) ( ) To Sundry Assets: By Sundry Liabilities: 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 $\displaystyle 4,00,000$ By Santosh’s Capital A/c (Stock) $\displaystyle 1,98,000$ (Mrs. Dev’s Loan) To Bank A/c: By Arti’s Capital A/c $\displaystyle 10,00,000$ Outstanding salary $\displaystyle 34,000$ (Land & Building) Realisation expenses $\displaystyle 40,000$ $\displaystyle 74,000$ By Bank A/c: To Profit transferred to: 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 $\displaystyle 11,200$ $\displaystyle 28,000$ $\displaystyle 22,96,000$ $\displaystyle 22,96,000$