Extracted text: Mr. M and Mr. D were carrying on business as equal partners. The firm's Balance Sheet as on 31t December, 2014 was as follows: Liabilities Assets Sundry Creditors Bank Overdraft Billa Payable Capital Accounts M D 65,500 30,000 Stock Plant and Machinery 54,000 1,82,000 15,000 73,000 12,500 Office Furniture Book Debts Joint Life Policy 1,48,000 Leasehold Premises 1,50,000 9,500 34,500 26,000 Profit and Loss Ale (Debit Balance) Drawings Account: 9,000 3,000 D 4,06,000 4,06,000 The business was carried on till 30th June, 2015. The partners withdrew in equal amounts half the amount of profits made during the period of six months (from January-June 2015) after 10% p.a. had been written off leasehold premises, 10% p.a. off plant and machinery and 5% p.a. off office furniture. Meanwhile sundry creditors were reduced by $ 10,000. On 30th June, 2015 stock was valued at $ 63,400. Bills payable were reduced by $ 2,300 and bank overdraft by $ 15,000. Book debts were valued at $ 65,000, the joint life policy was realised for $ 9,500 and the amount was utilised to reduce the bank overdraft and other items remained the same as on 31* December, 2014. On 30th June, 2015 the firm sold the business to a Limited Company. The value of the goodwill was estimated at $ 1,08,000 and the rest of the assets were valued on the basis of the Balance Sheet as on 30th June 2015. The Company paid the purchase consideration in fully paid equity shares of $ 10 each, at par. You are required to prepare a Realisation Account and Capital Accounts of the partners as on 30th June, 2015.