Given below are two statements:
Statement-I: The collapse of the 'Second World' of the Soviet Union and the socialist system in Eastern Europe had no profound consequences for world politics.
Statement-II: The end of the Soviet bloc meant the emergence of many new countries. All these countries had their own independent aspirations and choices.
Bittu and Chintu were partners in a firm sharing profit and losses in the ratio of 4 : 3. Their Balance Sheet as at 31st March, 2024 was as follows:
On 1st April, 2024, Diya was admitted in the firm for \( \frac{1}{7} \)th share in the profits on the following terms:
Prepare Revaluation Account and Partners' Capital Accounts.