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
On $1^{\text {st }}$ April, 2024, Diya was admitted in the firm for $\frac{1}{7}$ share in the profits on the following terms:
- New profit sharing ratio between Bittoo, Chintoo and Diya will be $3:3:1$.
- Fixed Assets were found to be overvalued by ₹ 1,40,000.
- Creditors were paid ₹ 4,20,000 in full settlement.
- Diya brought proportionate capital and ₹ 5,60,000 as her share of goodwill premium by cheque.
Prepare Revaluation Account and Partners' Capital Accounts.