​A and B were partners in a firm sharing profits in 3 : 1 ratio. They admitted C as a partner for 1/4th share in the future profit. C was to bring ₹ 60,000 for his capital. The Balance Sheet of A and B as at 1st April,2018, the date on which C was admitted , was: Liabilities ₹ Assets ₹ Capital A/cs: Land and Building 40,000 A 50,000 Plant ad Machinery 70,000 B 80,000 1,30,000 Stock 30,000 General Reserve 10,000 Debtors 35,000 Creditors 70,000 Less: Prov. for Doubtful Debts 1,000 34,000 Investments 26,000 Cash 10,000 2,10,000 2,10,000 The other terms agreed upon were:(a) Goodwill of the firm was valued at ₹ 24,000.(b) Land and Building were valued at ₹ 65,000 and Plant and Machinery at ₹ 60,000.(c) Provision for Doubtful Debts was found in excess by ₹ 400.(d) A liability of ₹ 1,200 included in Sundry Creditors was not likely to arise.(e) The capitals of the partners be adjusted on the basis of C's contribution of capital to the firm.(f) Excess of shortfall , if any, be transferred to Current Accounts.Prepare Revaluation Account , Partners' Capital Accounts and Balance Sheet of the new firm.