Partnership AcdAccountancy-Il-PSEB XII (Part(a) That C is to bring in 15,000 as capital and 5,000 as premium for goodwill for(b) That the value of stock is to be reduced by 10% while value of Plant and Machinery364On that date Cis admitted into the partnership on the following terms:share.48. AaposCapitalBSundry CGeneralto be appreciated by 10%.(c) That furniture is to be reduced to 9,000.(d) That a provision for doubtful debts is to be created on Sundry debtors at 5% and 2is to be provided for due electricity bill.(e) Investment worth * 1,000 (not mentioned in the balance sheet) is to be taken inaccount.(f) A creditor of * 100 is not likely to claim his money and is to be written off.You are require to prepare Revaluation Account, Capital Accounts of Partners and BalanceSheet of new firm.(Ans. Profit on revaluation 800 ; Total of Balance Sheet 90,900 ; Capital A/cs A:33,480 ; B: *22,320; C:15,000)The Balance Sheet of A and B as on 31st March, 2020 is given below. The profit sharing47​