Haritha and Bobby were partners in a firm sharing profits and losses in the ratio of 3:1. On 31st March, 2019, their balance sheet was as follows:They admitted Vihaan as a new partner for 1/5th share in the profits of the firm on the following terms: (a) Vihaan brought ₹1, 00,000 as his capital. b) Goodwill of the firm was valued at ₹4, 00,000. Vihaan brought the necessary amount in cash for his share of goodwill premium, half of which was withdrawn by the old partner (c) Liability on account of workmen’s compensation amounted to ₹ 80,000.(d) Haritha took over stock at ₹ 35,000. On the basis of above information answer the following.1. What will be the correct treatment of stock at the time of admission? a) ₹10,000 debited to Revaluation A/c and ₹35000 debited to Haritha’s capital A/c b) ₹10,000 credited to Revaluation A/c c) ₹10,000 debited to Revaluation A/c d) ₹45,000 credited to Haritha’s capital A/c and ₹10,000 credited to Revaluation A/c 2. What will be the correct journal entry of Workmen compensation reserve? a) Workmen compensation reserve A/c Dr 50,000 To Haritha’s Capital A/c 37,500 To Bobby’s Capital A/c 12,500 (Being ……………………………………) b) Workmen compensation reserve A/c Dr 80000 To Haritha’s Capital A/c 60,000 To Bobby’s Capital A/c 20,000 (Being ……………………………………) c) Workmen compensation reserve A/c Dr 80,000 To workmen compensation claim A/c 30,000 To Haritha’s Capital A/c 37,500 To Bobby’s Capital A/c 12,500 (Being ……………………………………) d) Revaluation A/c Dr 30,000 To workmen compensation claim A/c 30000 (Being ……………………………………) 3. What will be the amount of goodwill premium brought by Vihan? a) 80,000 b) 40,000 c) 4,00,000 d) 1,00,000 4. What is the treatment of General Reserve at the time of admission? a) Debited to all partners’ capital A/c b) Debited to old partners’ capital A/c c) Credited to old partners’ capital A/c d) Shown on the liability side of balance sheet.