Rita and sobha are partners in a firm
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35. Rita and Sobha are partners in a firm, Fancy Garments Exports, sharing profits and losses equally. On
1st April 2020 the Balance Sheet of the firm wasAsets3750075.00030.00025.00024 0006.00030 00075.0001StockBook DebtsLess Provision forDoubthul DebtsPlant and MachineryLand and BuildingLoan to Sobha6 000Sundry CreditorsBuis PayableLoan by RitaReserveCapital Alcs66.00090.000Sabha30.00060.000120.00045.00048.00010.000274.0002,74000The firm was dissolved on the date given above. The following transactions took place(a) Rita took 25% of the Stock at a discount of 20% in settlement of her loanb) Book Debts realised 54000: balance of the Stock was sold at a profit of 30% on cost.d) Sundry Creditors were paid out at a discount of 10%. Bills Payable were paid in full( Plant and Machinery realised 75,000. Land and Building 1,20.000(e) Rita took the goodwill of the firm at a value of 30,000An unrecorded asset of 6.900 was handed over to an unrecorded liability of 6.000 in full settlementig) Realisation expenses were * 5.250.Show Realisation Account Partners Capital Accounts and Bank Account in the books of the firm.