AVc BalanceAmount22 X, Y and Z were partners in a firm sharing profits and losses in the ratio 5:32 respectively.C's Capital A/c Balance (Cr.) 42,200.]X died on 28th February, 2017. The Balance Sheet on that date was as follows:LiabilitiesAmountAssets₹Capital Alcs :₹MachineryX12,000FurnitureY16,000StockZ12,000 40,000 DebtorsGeneral Reserve12,000 CashCreditors22.00074.000₹35,0006,00015.00015,0003,00074,000The firm had a Joint Life Policy in the name of the all partners, for insured valued 60,000. Thepremium paid on the policy was debited to Profit and Loss Account. The Partnership Deedprovided on the death of a partner the assets and liabilities are to be revalued.(a) Machinery 45,000 and Furniture 7,000.(b) A provision of 10% was created for doubtful debts.(c) A provision of 15,000 was made for taxation.(d) The goodwill of the firm was valued at 15,000 on X's death.(e) Death claim for policy was realised in full.The amount payable to X was transferred to his Executor's Account. You are requested toprepare Revaluation Account and Capital Account of deceased partner.[Ans. Revaluation A/c Loss 5,500; X's Executor's A/c (Cr.) 52,750)Cenital Alcs and New Balance Sheet(J.A.C. 2009 A21​