Read the following text and answer the followingRekha, Sunita and Teena are doing paper business in Ludhiyana. They used to share profits in the ratio of 3:2:1. They decided to provide note books to students of rural area at free of cost. Sunitha wants to admit her friend Samiksha in their firm. All others are agreed with Sunitha and Rekha surrenders 1/4th of her share; Sunita surrenders 1/3rd of her share and Teena 1/5th of her share in favour of Samiksha. Samiksha brought ₹ 50,000 as capital and ₹ 20000 as goodwill. In the old partners’ balance sheet there was an existing goodwill ₹25,000. There was an Investment fluctuation Reserve of ₹15000 and investment (book value) ₹30,000. At the time of admission of Samiksha all assets are revalued and liabilities are reassessed and found that market value of investment is ₹25,000.1. What will be the new ratio? a) 45:40:12:6b) 135:80:48:97 c) 6:4:2:1 d) 24:18:30:452. What will be the ratio of Samiksha? a)3/12 b)6/12 c)97/360 d)45/ 150 3. What will be the journal entry for existing goodwill? a) Goodwill A/c Dr 25,000 To Rekha’s Capital A/c 6250To Sunitha’s Capital A/c 6250To Teena’s Capital A/c 6250 To Samiksha’s Capital A/c 6250 (Being ……………………………………) b) Goodwill A/c Dr 25,000 To Rekha’s Capital A/c 12500 To Sunitha’s Capital A/c 8333 To Teena’s Capital A/c 4167 (Being ……………………………………) c) Rekha’s Capital A/c 6250 Sunitha’s Capital A/c 6250 Teena’s Capital A/c 6250 Samiksha’s Capital A/c 6250 To Goodwill A/c 25000 (Being ……………………………………) d) Rekha’s Capital A/c 12500 Sunitha’s Capital A/c 8333 Teena’s Capital A/c 4167 To Goodwill A/c 250004) What will be the treatment of Investment Fluctuation Reserve? a) Investment Fluctuation Reserve A/c Dr 15,000 To Rekha ‘s Capital A/c 7500 To Sunitha’s Capital A/c 5000 To Teena’s Capital A/c 2500 (Being ……………………………………) b) Investment Fluctuation Reserve A/c Dr 15000 To Investment A/c 5000 To Rekha ‘s Capital A/c 5000 To Sunitha’s Capital A/c 3333 To Teena’s Capital A/c 1667 (Being ……………………………………)c) Revaluation A/c Dr 5,000 To Investment A/c 5,000 (Being ……………………………………) d) Investment A/c Dr 25,000 To Revaluation A/c 25000 (Being ……………………………………)