1,16,000 (Cr.).]Chander and Damini were partners in a firm sharing profits & losses equally. On31st March, 2017 their Balance Sheet was as follows:Balance Sheet of Chander and Damini as on 31.3.2017AmountAssetsAmountLiabilities3WSundry CreditorsCapitals :ChanderDamini1,04,000 Cash at BankBills Receivable2,50,000Debtors2,16,000 4,66,000 FurnitureLand and Building5,70,00030.00045.00075.0001.10.0003.10,0005.70,000On 1.4.2017, they admitted Elina as a new partner for 1/3rd share in the profon the following conditions :(i) Elina will bring 3,00,000 as her capital and 50,000 as her sharegoodwill premium, half of which will be withdrawn by Chander anDamini.(ii) Debtors to the extent of 5,000 were unrecorded.(iii) Furniture will be reduced by 10% and 5% provision for bad and doubtdebts will be created on bills receivable and debtors.(iv) Value of land and building will be appreciated by 20%.(v) There being a claim against the firm for damages, a liability to the exteof 8,000 will be created for the same.Prepare Revaluation Account and Partners' Capital Accounts. (CBSE 201Ans : Revaluation Profit * 41,750; Capital Balance : Chander 2,83,375 apartners​