Madhavan, Chatterjee and Pillai were partners in a firm sharing profits and losses in ratio of $\displaystyle 2$ : $\displaystyle 1$ : 2. On 31st March, $\displaystyle 2024$, their Balance Sheet was as follows : Balance Sheet of Madhavan, Chatterjee and Pillai as at 31st March, $\displaystyle 2024$ Amount Amount Liabilities ( ) $\displaystyle 2$ Assets ( ) $\displaystyle 3$ Creditors $\displaystyle 1,10,000$ Cash at Bank $\displaystyle 4,05,000$ Outstanding Expenses $\displaystyle 17,000$ Stock $\displaystyle 2,20,000$ Mrs. Madhavan's Loan $\displaystyle 2,00,000$ Debtors $\displaystyle 95,000$ Less : Provision for Chatterjee's Loan $\displaystyle 1,70,000$ Doubtful Debts ₹ $\displaystyle 5,000$ $\displaystyle 90,000$ Capitals : Land and Building $\displaystyle 1,82,000$ Madhavan $\displaystyle 2,00,000$ Plant and Machinery $\displaystyle 1,00,000$ Chatterjee $\displaystyle 1,00,000$ Pillai $\displaystyle 2,00,000$ $\displaystyle 5,00,000$ $\displaystyle 9,97,000$ $\displaystyle 9,97,000$ 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) Madhavan agreed to pay Mrs. Madhavan's loan. (iii) $\displaystyle 50$% of the stock was taken over by Chatterjee 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 Pillai for ₹ $\displaystyle 10,00,000$ and Plant and Machinery was sold as scrap for $\displaystyle 20$,000. (v) Realisation expenses $\displaystyle 17,000$ were paid by cheque. Prepare Realisation Account.

Dr. Realisation A/c Cr. Particulars Amount Particulars Amount ( ) ( ) To Sundry Assets: ($\displaystyle 1$) By Sundry Liabilities: ($\displaystyle 1$) Stock $\displaystyle 2,20,000$ Creditors $\displaystyle 1,10,000$ Debtors $\displaystyle 95,000$ Outstanding Expenses $\displaystyle 17,000$ Land & Building $\displaystyle 1,82,000$ Mrs. Madhavan’s Loan $\displaystyle 2,00,000$ Plant & Machinery $\displaystyle 1,00,000$ $\displaystyle 5,97,000$ Provision for doubtful debts $\displaystyle 5,000$ $\displaystyle 3,32,000$ To Madhavan’s Capital A/c (½) $\displaystyle 2,00,000$ By Chatterjee’s Capital A/c (Stock) $\displaystyle 99,000$ (Mrs. Madhavan’s Loan) (½) To Bank A/c: ($\displaystyle 1$) By Pillai’s Capital A/c (½) $\displaystyle 10,00,000$ Outstanding expenses $\displaystyle 17,000$ (Land & Building) Realisation expenses $\displaystyle 17,000$ $\displaystyle 34,000$ By Bank A/c: ($\displaystyle 1$) To Profit transferred to: (½) Stock $\displaystyle 1,32,000$ Madhavan’s Capital A/c $\displaystyle 3,00,800$ Plant & Machinery $\displaystyle 20,000$ $\displaystyle 1,52,000$ Chatterjee’s Capital A/c $\displaystyle 1,50,400$ Pillai’s Capital A/c $\displaystyle 3,00,800$ $\displaystyle 7,52,000$ $\displaystyle 15,83,000$ $\displaystyle 15,83,000$