Seema and Raveena were partners in a firm sharing profits and losses in the ratio of $\displaystyle 11$ : 9. On $\displaystyle 3151$ March, $\displaystyle 2025$, their Balance Sheet was as follows : Balance Sheet of Seema and Raveena as on $\displaystyle 315$ March, $\displaystyle 2025$ Liabilities Amount Assets Amount G) (f) Creditors $\displaystyle 7,00,000$ Cash at Bank $\displaystyle 2,00,000$ Capitals : Stock $\displaystyle 4,00,000$ Seema $\displaystyle 9,00,000$ Debtors $\displaystyle 6,00,000$ Raveena $\displaystyle 11,00,000$ $\displaystyle 20,00,000$ Plant & Machinery $\displaystyle 15,00,000$ $\displaystyle 27,00,000$ $\displaystyle 2$'$\displaystyle 7,00,000$ On the above date the firm was dissolved. Plant and Machinery was sold at $\displaystyle 20$% less than the book value and stock at ₹ $\displaystyle 3,90$,000. Debtors were realised in full. Raveena agreed to bear all realisation expenses for which she was allowed a commission of ₹ $\displaystyle 10$,000. Actual realisation expenses amounted to ₹ $\displaystyle 8$,000. Prepare Realisation Account and Partners' Capital Accounts.

Books of Seema and Raveena Dr. Realisation Account Cr. Particulars Amount Particulars Amount (₹) (₹) ½ ½ To Sundry Assets By Sundry Liabilities Stock $\displaystyle 4,00,000$ - Creditors $\displaystyle 7,00,000$ Debtors $\displaystyle 6,00,000$ Plant and Machinery15,$\displaystyle 00,000$ $\displaystyle 25,00,000$ By Cash/ Bank A/c Plant and Machinery. $\displaystyle 12,00,000$ Stock $\displaystyle 3,90,000$ ½ ½ ½ $\displaystyle 21,90,000$ To Cash/ Bank A/c Debtors $\displaystyle 6,00,000$ By Loss transferred to Partners’ Capital A/c’s ½ ½ Seema $\displaystyle 1,76,000$ To Raveena’s Capital A/c $\displaystyle 32,10,000$ $\displaystyle 32,10,000$ Dr. Partners’ Capital Accounts Cr. Particulars Seema Raveena Particulars Seema Raveena (₹) (₹) (₹) (₹) To Realisation A/c $\displaystyle 1,76,000$ $\displaystyle 1,44,000$ ½ $\displaystyle 9,00,000$ $\displaystyle 11,00,000$ By Balance b/d (Loss) ½ To Cash/ Bank A/c $\displaystyle 7,24,000$ $\displaystyle 9,66,000$ By Realisation A/c - $\displaystyle 10,000$ ½ ½ (Commission) $\displaystyle 9,00,000$ $\displaystyle 11,10,000$ $\displaystyle 9,00,000$ $\displaystyle 11,10,000$ . Alternatively- Dr. Partners’ Capital Accounts Cr. Particulars Seema Raveena Particulars Seema Raveena (₹) (₹) (₹) (₹) To Realisation A/c $\displaystyle 1,76,000$ $\displaystyle 1,44,000$ By Balance b/d $\displaystyle 9,00,000$ $\displaystyle 11,00,000$ (Loss). To Cash/ Bank A/c - $\displaystyle 8,000$ By Realisation A/c - $\displaystyle 10,000$ ½ ½ (Commission) To Cash/ Bank A/c $\displaystyle 7,24,000$ $\displaystyle 9,58,000$ $\displaystyle 9,00,000$ $\displaystyle 11,10,000$ $\displaystyle 9,00,000$ $\displaystyle 11,10,000$