Ram shyam and hari were in partnership sharing profit in ratio 3:2:1 there balance sheet as at 31 march 2012
Liability rs assest rs
Bills payable 20000 cash 40000
Creditor 20000 bills recieveable 5000
General reserve 30000 Debtor's 15000
Capital
Ram 50000 stock 50000
Shyam 30000 furniture 20000
Hari 250000 machinery 30000
Goodwill 15000
On 1 April 2013 partners decided to share profit equally
Goodwill of the firm should be valued at rs 30000
Furniture and machinery is to be revalued at rs 25000 and rs 35000 respectively
Value of stock is to be reduced to rs 4000

You are required to give necessary journal entry to give effect to the above arrangement and prepare revaluation account prepare capital accounts and balance sheet of the firm after reconsitution