Plz.. give answer to this question
Q36. A and B are partners sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet on 31 December, 1996 stood as under:
| Liabilities | (₹) | Assets | (₹) | ||
| Capitals: | Machinery | 66,000 | |||
| A: | 70,000 | Furniture | 30,000 | ||
| B: | 60,000 | 1,30,0000 | Investments | 40,000 | |
| General Reserve | 20,000 | Stock | 46,000 | ||
| Bank Loan | 18,000 | Debtors | 38,000 | ||
| Creditors | 72,000 | Less: Provision for Doubtful Debts Cash | 4,000 | 34,000 | |
| Cash | 24,000 | ||||
| 2,40,000 | 2,40,000 | ||||
(i) C brings capital proportionate to his share after all adjustments and ₹8,000 for goodwill out of his share of ₹14,000.
(ii) Depreciate furniture by 10%.
(iii) Half of investments were to be taken over by A and B in their profit sharing ratio and remaining to be valued at ₹26000
(iv) New ratio will be 3 : 3 : 2.
Prepare Revaluation Account. Capital Accounts and Balance Sheet after C's admission.
