Ravi, Kavi and Chand were partners sharing profits in the ratio of 5: 3: 2. On 31st March, 2022, their Balance Sheet was as follows: Balance Sheet of…

Dr Realisation A/c Cr Particulars Amount Particulars Amount ₹ ₹ To Land & Building $\displaystyle 3,50,000$ By Provision for Doubtful A/c Debts A/c $\displaystyle 3,00,000$ $\displaystyle 10,000$ To Stock A/c By Creditors A/c $\displaystyle 2,00,000$ $\displaystyle 70,000$ To Debtors A/c By Mrs. Chand’s Loan $\displaystyle 20,000$ $\displaystyle 20,000$ To Ravi’s Capital A/c By Cash A/c $\displaystyle 40,000$ Land & Building To Cash A/c and stock $\displaystyle 6,00,000$ Debtors $\displaystyle 1,80,000$ $\displaystyle 7,80,000$ By Loss transferred to Partners’ Capital A/c’s: Ravi $\displaystyle 15,000$ Kavi $\displaystyle 9,000$ $\displaystyle 30,000$ Chand $\displaystyle 6,000$ $\displaystyle 9,10,000$ $\displaystyle 9,10,000$