Q.Archei , Betty and Veronica are partners sharing profit in the ratio of 3 : 2: 1 . With effect from 1st April 2015, they decide to share profit in the ration 2 : 2 : 1 . Their Balance sheet as at 31st March 2015 is given below :   

                                                   Balance Sheet 
                                                 as at 31st March 2015
 

Liabilities	Amount Rs.	Assets	Amount Rs.
Creditors  Outstanding Expenses  Archie        3,75,000 Betty          2,25,000 Veronica    2,00,000	1,00,000   12,000 8,00,000 9,12,000	Cash  Debtors  Stock  Plant and Machinery Land and Building	62,000 50,000 75,000 3,25,00 4,00,00                                9,12,000

For the above purpose, it was agreed that
(a) Plant and machinery should be written down by Rs. 25,000.
(b) Stock is found overvalued by 10% . It was decided to reduced its value accordingly.
(c) Land and building has to be appreciated by 25%.
(d) Creditors amounting to Rs. 5,500 are  not likely to claim their amount.
(e) Goodwill at the time of reconstitution, is to be valued at 3 year's purchase of average profits of last five years, which were Rs. 22,500.
You are required to give effect to the above adjustments
(i) By opening revaluation account               (ii) By passing a single adjustment entry.