Jhalak and Arsh were partners in a firm sharing profits and losses equally. Their Balance Sheet as at 31st March, 2025 was as follows: Balance Sheet…

Books of Jhalak and Arsh Dr. Realisation A/c Cr. Particulars Amount Particulars Amount (₹) (₹) To Sundry Assets: By Sundry Liabilities: Machinery $\displaystyle 12,00,000$ Mrs. Arsh’s Loan $\displaystyle 7,00,000$ Investments $\displaystyle 8,00,000$ Creditors $\displaystyle 13,00,000$ $\displaystyle 20,00,000$ Debtors $\displaystyle 15,00,000$ By Bank/Cash A/c $\displaystyle 3,00,000$ Stock $\displaystyle 5,00,000$ $\displaystyle 40,00,000$ (Stock) To Arsh’s Capital A/c $\displaystyle 7,00,000$ By Bank/Cash A/c $\displaystyle 9,60,000$ (Mrs. Arsh Loan) (Machinery) To Jhalak’s Capital A/c $\displaystyle 20,000$ By Arsh’s Capital A/c (Expenses) (Investments) $\displaystyle 7,20,000$ By Jhalak’s Capital A/c $\displaystyle 2,25,000$ (Stock) By Loss transferred to capital A/c : Jhalak $\displaystyle 2,57,500$ Arsh $\displaystyle 2,57,500$ $\displaystyle 5,15,000$ $\displaystyle 47,20,000$ $\displaystyle 47,20,000$