A, B and C are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1 .Their Balance Sheet as at 31st March, 2018 is: Liabilities Amount (₹) Assets Amount (₹) Creditors 30,000 Cash in Hand 18,000 Bills Payable 16,000 Debtors 25,000 General Reserve 12,000 Less: Provision for D. Debts 3,000 22,000 Capital A/cs: Stock 18,000 A 40,000 Furniture 30,000 B 40,000 Machinery 70,000 C 30,000 1,10,000 Goodwill 10,000 1,68,000 1,68,000 Z is admitted as a new partner on 1st April, 2018 on the following terms:(a) Provision for doubtful debts is to be maintained at 5% on Debtors.(b) Outstanding rent amounted to ₹ 15,000.(c) An accrued income of ₹ 4,500 does not appear in the books of the firm . It is now to be recorded.(d) X takes over the Investments at an agreed value of ₹ 18,000.(e) New Profit-sharing Ratio of partners will be 4 : 3 : 2 .(f) Z will bring in ₹ 60,000 as his capital by cheque.(g) Z is to pay an amount equal to his share in firm's goodwill valued at twice the average profits of the last three years which were ₹ 90,000 ; ₹ 78,000 and ₹ 75,000 respectively.(h) Half of the amount of the goodwill is to be withdrawn by X and Y . You are required to pass journal entries , prepare Revaluation Account , Partners' Capital and Current Accounts and the Balance Sheet of the new firm. B retires on 1st April, 2018 on the following terms :(a) Provision for Doubtful Debts be raised by ₹ 1,000.(b) Stock to be depreciated by 10% and Furniture by 5% .(c) Their is an outstanding claim of damages of ₹ 1,100 and it is to be provided for.(d) Creditors will be written back by ₹ 6,000.(e) Goodwill of the firm is valued at ₹ 22,000.(f) Bis paid in full with the cash brought in by A and C in such a manner that their capitals are in proportion to their profit-sharing ratio and Cash in Hand remains at ₹ 10,000.Prepare Revaluation Account , Partners' Capital Accounts and the Balance Sheet of A and C .