Mibi and Maggie were in partnership, sharing profits and losses equally. Their Balance Sheet as on 31.03.2013 was as follows.
Balance Sheet as on 31.03.2013
![](https://www.sarthaks.com/?qa=blob&qa_blobid=11035254515372591697)
The firm was dissolved on the date of Balance Sheet. The assets realized as follows:
Furniture Rs. 8000 Debtors Rs. 6,500 Stock Rs. 5,000 Creditors were paid in full. The Realisation expenses amounted to Rs. 500. Prepare necessary Ledger Accounts.