Dissolution Of Partnership Firms

(a) Realisation Account \begin{tabbing} \hspace{6cm} \= \hspace{4cm} \= \kill Realisation Account \> Dr. \> Cr.
\hline \text{To Sharmila (Building)} \> ₹ 1,23,600 && \text{By Goodwill} \> ₹ 45,600
\text{To Realisation Expenses} \> ₹ 6,800 && \text{By Machinery (Realised)} \> ₹ 31,680
\text{To Motor car (Realised)} \> ₹ 1,51,080 && \text{By Motor car (Realised)} \> ₹ 1,51,080
\text{To Machinery (Realised)} \> ₹ 31,680 && \text{By Building (Taken over by Sharmila)} \> ₹ 1,23,600
\text{To Leela (Investment)} \> ₹ 55,440 && \text{By Debtors (Taken over by Urmila)} \> ₹ 30,600
\text{To Debtors (Taken over by Urmila)} \> ₹ 30,600 && \text{By Stock (Taken over by Urmila)} \> ₹ 45,000
\text{To Stock (Taken over by Urmila)} \> ₹ 45,000 && \text{By Creditors} \> ₹ 28,800
\text{To Creditors} \> ₹ 28,800 & \text{By Bills Payable} \> ₹ 21,600
\hline \text{Total} \> ₹ 3,92,500 & \text{Total} \> ₹ 3,92,500
\hline \end{tabbing} (b) Partners' Capital Account \begin{tabbing} \hspace{6cm} \= \hspace{4cm} \= \kill Partners' Capital Account \> Dr. \> Cr.
\hline \text{To Realisation Account (Sharmila's Share)} \> ₹ 1,23,600 && \text{By Balance b/d (Sharmila)} \> ₹ 2,27,160
\text{To Realisation Account (Urmila's Share)} \> ₹ 1,44,000 && \text{By Realisation Account (Urmila's Share)} \> ₹ 1,44,000
\text{To Realisation Account (Leela's Share)} \> ₹ 1,08,000 && \text{By Realisation Account (Leela's Share)} \> ₹ 1,08,000
\hline \text{Total} \> ₹ 3,75,600 & \text{Total} \> ₹ 3,75,600
\hline \end{tabbing} (c) Bank Account \begin{tabbing} \hspace{6cm} \= \hspace{4cm} \= \kill Bank Account \> Dr. \> Cr.
\hline \text{To Balance b/d (Cash from Realisation)} \> ₹ 3,360 & \text{By Creditors (Paid)} \> ₹ 28,800
\hline \text{Total} \> ₹ 3,360 & \text{Total} \> ₹ 28,800
\hline \end{tabbing} Final Answer: The Realisation Account shows the distribution of assets and liabilities as they are realised. The Partners' Capital Account reflects the adjustments made in the capital accounts of the partners. The Bank Account shows the cash balance post-settlement of creditors and other liabilities.