Suvan and Shivam were partners in a firm sharing profits and losses in the ratio of 3: 7. On 31st March, 2025, their Balance Sheet was as follows:…

Books of Suvan and Shivam Dr. Realisation Account Cr. Particulars Amount Particulars Amount (₹) (₹) To Sundry Assets By Sundry Liabilities Stock $\displaystyle 1,75,000$ - Creditors $\displaystyle 5,00,000$ Debtors $\displaystyle 1,25,000$ Plant &Machinery $\displaystyle 9,00,000$ $\displaystyle 12,00,000$ By Cash/ Bank A/c Stock $\displaystyle 1,30,000$ Debtors $\displaystyle 1,15,000$ $\displaystyle 2,45,000$ To Cash/Bank A/c -Creditors $\displaystyle 5,00,000$ By Shivam’s Capital A/c To Suvan’s Capital A/c - Plant and Machinery $\displaystyle 3,40,000$ -Realisation expenses $\displaystyle 3,000$ By Loss transferred to Partners’ Capital A/c’s. Suvan $\displaystyle 1,85,400$ Shivam $\displaystyle 4,32,600$ $\displaystyle 6,18,000$ $\displaystyle 17,03,000$ $\displaystyle 17,03,000$ Dr. Partners’ Capital Accounts Cr. Particulars Suvan Shivam Particulars Suvan Shivam (₹) (₹) (₹) (₹) To Realisation A/c - $\displaystyle 3,40,000$ By Balance b/d $\displaystyle 4,00,000$ $\displaystyle 5,00,000$ (Plant & Machinery) To Realisation A/c $\displaystyle 1,85,400$ $\displaystyle 4,32,600$ $\displaystyle 3,000$ - By Realisation A/c (Loss) (Realisation expenses) $\displaystyle 2,17,600$ - - $\displaystyle 2,72,600$ To Cash/Bank A/c By Cash/ Bank A/c $\displaystyle 4,03,000$ $\displaystyle 7,72,600$ $\displaystyle 4,03,000$ $\displaystyle 7,72,600$