Yogesh and Naresh were partners sharing profits equally . They dissolved the firm on 1st April , 2019. Naresh was assigned the responsibility to realise the assets and pay the liabilities at a remuneration of ₹ 10,000 including expenses . Balance Sheet of the firm as on that date was as follows :
The firm was dissolved on following terms :
(a) Yogesh was to pay his wife's loan .
(b) Debtors realised ₹ 30,000 .
(c) Naresh was to take investments at an agreed value of ₹ 26,000.
(d) Creditors and Bills Payable were payable after two months but were paid immediately at a discount of 15 % p.a.
(e) Bills Receivable were received allowing 5% rebate .
(f) A Debtor previously written off as Bad Debt paid ₹ 15,000.
(g) An unrecorded asset realised ₹ 10,000.
Prepare Realisation Account , Partner's Capital Account, Partner's Loan Account and Cash/Bank Account .

Explanation

Realisation Gain - ₹ 13,330 , Final Payment to Yogesh - ₹ 14,365 , Naresh- Nil , Loan of Naresh transferred to Naresh's Capital A/c - ₹ 43, 635 , Repayment of Loan - ₹ 365.