Madan and Mohan who share profits and losses in the ratio of 3 : 2 . Their Balance sheet was as follows as on 31-03-2020They decided to admit Gopal on 1st April, 2020 for 1/5th share which Gopal acquired wholly from Mohan on the following terms: (i) Gopal shall bring ₹10,000 as his share of premium for Goodwill. (ii) Create provision for doubtful debts @10%. (iii) A claim of ₹5,000 on account of workmen’s compensation was to be provided for. (iv) Patents were undervalued by ₹ 2,000. Stock in the books was valued 10% more than its market value.1) What will be the treatment of Workmen Compensation Reserve at the time of admission of Gopal? a) Debited to Partners Capital A/c b) Credited to Old partners’ capital A/c c) Debited to Revaluation A/c d) Credited to Revaluation A/c2. What will be the treatment of provision for doubtful debts in Revaluation A/c? a) ₹ 6500 debited to Revaluation A/c b) ₹ 6500 credited to Revaluation A/c c) ₹ 1500 debited to Revaluation A/c d) ₹1500 credited to Revaluation A/c 3. What is the journal entry for the treatment of goodwill? a) Premium for Goodwill A/c Dr 10000 To Madan’s Capital A/c 6000 To Mohan’s Capital A/c 4000 b) Premium for Goodwill A/c Dr 10000 To Madan’s Capital A/c 5000 To Mohan’s Capital A/c 5000 c) Premium for Goodwill A/c Dr 10000 To Madan’s Capital A/c 10000 d) Premium for Goodwill A/c Dr 10000 To Mohan’s Capital A/c 100004. What will be the treatment for Employee Provident Fund? Credited to Partners Capital A/c a) Debited to Partners Capital A/c b) Transferred to Revaluation A/c c) Transferred to Liability side of Balance Sheet