Solve this:

Solve this: 11. PK, NK and SK are partners sharing profits in the ratio of NK retired from the firm due to his illness. On that date the balance sheet of the firm was as follows: Liabilities General Reserve Sundry Creditors Bills Payable Outstanding salary Provision for legal damages PICS Capital NK's Capital SK's Capital Additional Information: Amount 24,000 30,000 24,000 4,400 12,000 92,000 60,000 40,000 Assets Bank Debtors Less: provision Stock Furniture Premises 12,000 800 Amount 15,200 11,200 18,000 82,000 (i) Premises have appreciated by 20%. Stock depreciated by 10% and provision for doubtful debts was to be made 5% on debtors. Further, provision for legal damages is to be made for Rs.2.400 and furniture to be brought up to Rs.90,000. (ii) Goodwill of the firm be valued at (iii) Rs.52,000 from NK's capital account be transferred to his loan account and balance be paid through bank; if required, necessary loan may be obtained from bank. (iv) New profit sharing ratio of PK and SK is decided to be 5:1. Give the necessary ledger accounts and balance sheet of the firm after NK's retirement.