63. (Revaluation A/c/Partner's Cap. A/c/B/S) A and B were partners sharing profits andlosses in the ratio of 3:2. Their Balance Sheet on 31st March, 2015 stood as under :-Liabilities₹ FAssetsCapital-A70,000 Machinery-B60,000 FurnitureBank Loan18,000 InvestmentsCreditors72,000 StockGeneral Reserve20,000 Debtors38,000Less : Provision4,000Cash66,00030,00040.00046,00034,00024,0002.40,0002,40,000On this day they admitted C for 25% share in profits on the following terms :-(i) C brings capital proportionate to his share after all adjustments and 78.000 forgoodwill, out of his share of 14,000.(ii) Depreciate furniture by 10%.(iii) Half of investments were to be taken over by A and B in their profit sharing ratioand remaining valued at 26,000.(iv) New profit sharing ratio will be 3:3:2.Prepare Revaluation Account, Capital Accounts and Balance Sheet after C's admission[Ans. Profit on revaluation 3,000 : C's Current A/c (Dr.) 6,000 : Partners' capitalaccounts balances A 84.400 : B 62,600 and C 49,000 : Total of Balance Sheet2.86,000.1​