Madhavan, Chatterjee and Pillai were partners in a firm sharing profits and losses in ratio of 2: 1: 2. On 31st March, 2024, their Balance Sheet was…

Dr. Realisation A/c Cr. Particulars Amount Particulars Amount ( ) ( ) To Sundry Assets: By Sundry Liabilities: 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 $\displaystyle 2,00,000$ By Chatterjee’s Capital A/c (Stock) $\displaystyle 99,000$ (Mrs. Madhavan’s Loan) To Bank A/c: By Pillai’s Capital A/c $\displaystyle 10,00,000$ Outstanding expenses $\displaystyle 17,000$ (Land & Building) Realisation expenses $\displaystyle 17,000$ $\displaystyle 34,000$ By Bank A/c: To Profit transferred to: 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 $\displaystyle 3,00,800$ $\displaystyle 7,52,000$ $\displaystyle 15,83,000$ $\displaystyle 15,83,000$