Ashish and Dutta were partners in a firm sharing profits in 3:2 ratio. On Jan. 01, 2015 they admitted Vimal for 1/5 share in the profits. The Balance Sheet of Ashish and Dutta as on Jan. 01, 2016 was as follows: Balance Sheet of A and B as on 1.1.2016 Liabilites Amount Rs Assets Amount Rs Creditors 15,000 Land & Building 35,000 Bills Payable 10,000 Plant 45,000 Ashish Capital 80,000 Debtors 22,000 Dutta’s Capital 35,000 Less : Provision 2,000 20,000 Stock 35,000 Cash 5,000 1,40,000 1,40,000 It was agreed that:i) The value of Land and Building be increased by Rs 15,000.ii) The value of plant be increased by 10,000.iii) Goodwill of the firm be valued at Rs 20,000.iv) Vimal to bring in capital to the extent of 1/5th of the total capital of the new firm. Record the necessary journal entries and prepare the Balance Sheet of the firm after Vimal’s admission.