Accountancy 4 Marks Question

Aakash and Anushka were partners in firm sharing profits and losses in the ratio of 4 : 3. They decided to dissolve the firm on 1st May 2023. From the information given below, complete Realisation Account, Partners' Capital Accounts and Bank Account:

REALISATION ACCOUNT
Dr.			Cr.
Particulars		₹	Particulars		₹
To Sundry Assets:			By Sundry Liabilities:
Machinery		5,60,000	Creditors		40,000
Stock		90,000	Aakash's Wife's loan		25,000
Debtors		55,000	By Bank
To Bank:			Machinery		4,80,000
Creditors		______	Debtors		10,000
To Aakash's Capital A/c:			By Aakash's Capital A/c:
Aakash's Wife's loan		34,000	Stock	1,28,000
To Anushka's Capital A/c: Realisation Expenses		7,000	Typewriter	70,000	1,98,000
To Profit transferred to:			By Anushka's Capital A/c:
Aakash's Capital A/c	4,000		Debtors		40,000
Anushka's Capital A/c	3,000	7,000
		7,93,000			7,93,000

PARTNERS' CAPITAL ACCOUNTS
Dr.			Cr.
Particulars	Aakash (₹)	Anushka (₹)	Particulars	Aakash (₹)	Anushka (₹)
To Realisation A/c	______	______	By	______	______
To Bank A/c	4,00,000	4,50,000	By	______
			By	______	______
	______	______		______	______

BANK ACCOUNT
Dr.		Cr.
Particulars	₹	Particulars	₹
To Balance b/d	______	By Realisation A/c	______
To Realisation A/c	4,90,000	By Aakash's Loan A/c	4,000
		By Aakash's Capital A/c	4,00,000
		By Anushka's Capital A/c	______
	______		______

Royal Ltd. invited applications for issuing 2,00,000 equity shares of ₹ 10 each at a premium of 25% payable with application. Applications for 4,50,000 shares were received. Applications for 1,00,000 shares were rejected and money refunded. Pro-rata allotment was made to the remaining applicants. The amount per share was payable as follows:
On Application: ₹ 4 per share including premium
On Allotment: ₹ 3.50 per share
Balance on 1^st and Final Call.
Excess application money received with applications was adjusted with sums due on allotment.
Application money in excess of sums due on allotment, if any, was refunded. Raghu, who had applied for 7,000 shares failed to pay allotment money. His shares were forfeited immediately after allotment. Afterwards the first and final call was made. Nandan, who had applied for 10,500 shares, failed to pay the first and final call. His shares were also forfeited. All the forfeited shares were reissued at ₹ 11.50 fully paid up, to Meeta.
Pass necessary journal entries for the above transactions in the books of Royal Ltd.