X and Y are partners sharing profits and losses in the ratio of 3/4 and 1/4 . Their Balance Sheet as at 31st March, 2018 is: Liabilities ₹ Assets ₹ Capital A/cs: Land and Building 1,25,000 X 1,50,000 Furniture 5,000 Y 80,000 2,30,000 Stock 1,00,000 Workmen Compensation Reserve 20,000 Sundry Debtors 80,000 Sundry Creditors 1,50,000 Bills Receivable 15,000 Bills Payable 37,500 Cash at Bank 1,00,000 Cash in Hand 12,500 4,37,500 4,37,500 They admit Z into partnership on 1st April, 2018 on the following terms:(a) Goodwill is to be valued at ₹ 1,00,000.(b) Stock and Furniture to be reduced by 10%.(c) A Provision for Doubtful Debts is to be created 5% on Sundry Debtors .(d) The value of Land and Building is to be appreciated by 20%.(e) Z pays ₹ 50,000 as his capital for 1/5th share in the future profits.You are required to show Revaluation Account , Partners' Capital Accounts and Balance Sheet of the new firm.Note: Z's Share of Goodwill ₹ 20,000 (i.e, ₹ 1,00,000 × 1/5 ) can be adjusted through Z's Current A/c. In that situation, Partners' Capital A/cs: X—₹ 1,87,875; Y—​₹ 92,625; Z—​₹ 50,000; Z's Current A/c (Dr.)—​₹ 20,000; Balance Sheet Total—​₹ 5,18,000.