If total assets are Rs2,00,000; total liabilities are Rs40,000; amount realised on sale of assets is Rs1,75,000 and realisation expenses are Rs3,000, the profit or loss on realisation will be :

Profit Rs12,000 Loss Rs78,000 Loss Rs28,000 None of the above

Loss Rs28,000

Realisation A/c Particulars Amount (dr) Particulars Amount (cr) To Assets 2,00,000 By Liabilities  40,000 To Bank A/c 40,000 By Bank A/c (Realisation of Assets) 1,75,000 To Bank A/c (Expenses) 3,000 By Partner's capital A/c (Loss) 28,000   2,43,000   2,43,000