A B C are partners sharing profits and losses in the ratio of 5:3:2. their balance shèet as at 31st march 2014 was as follow..... Liabilities.. Sundry creditor = 29000 , Provision for doubtful debt=5000 Capitals: A = 140000, B=90000, C=76000.. Assets side total. Goodwill =24000 , Debtors = 80000 , Investment =30000 , Land and buildings= 142000 , Machinery = 50000 ,Patents = 4000, Cash at bank =10000

C retired on 1 april 2014 as per the following condition :
1. Goodwill of the firm is to be valued at three years purchase of the average profits if the year which were rs. 20000 , rs. 12000 rs. 30000 rs. (6000 ) and rs 34000.
2. machinery is to be reduced to 40000 and patents are valueless.
3. There is no need of any provision of doubtful debt.
4. An unclaimed liability of rs. 2000 is to be written off.
5. out of the total insurance premium paid rs. 1000 be treated as prepaid.
6. investments are revalued at rs. 16000 and these are taken by c at this value.
Entire sum payable to c is to be brought in by A and B in such a way so as to make their capitals proportionate to their new profit sharing ratio which is 2:1.
Prepare Revaluation Account , Capitals account and the opening balance sheet of A and B.