(Revaluation A/c/Capital A/c/Balance Sheet) A, B and C were in partnership, sharingprofits and losses equally. On 1st April 2016, A retired, when the firm's Balance sheet wasPartnership Accounts-V (Retirement and Death of a Partner) •6.95iremeas at under:Liabilities₹los:reet₹AssetsLand and Buildings80,000 Plant and Machinery68,000 Sundry Debtors78,000 Investments69,280 Cash2,95,28042,00069,80089,15080,00014,3302,95,280torsAccording to partnership deed, assets were to be revalued on A's retirement as under : Landand Buildings 58,000; Plant and machinery 65,640; Investments ? 84,000. Besides,Goodwill was then valued at 96,000. A accepted the investments at their revalued figuresin part payment of his dues, B paid * 40,000 as further capital and A was paid off thebalance of his account. Prepare the Revaluation Account, Partners' capital accounts and therevised Balance Sheet of B and C. (No good will account is to be raised.)|Ans. Profit on revaluation * 15,840; Capitals, B 97,280, C 367,280; Balance sheet total32,33,840.ed​