A, B and C were partners in a firm sharing profits in the ratio of 3 : 2 : 1. Their Balance Sheet as on 31st March, 2015 was as follows:From 1st April, 2015, A, B and C decided to share profits equally. For this it was agreed that:(i) Goodwill of the firm will be valued at ₹ 1,50,000. (ii) Land will be revalued at ₹ 80,000 and building be depreciated by 6%. (iii) Creditors of ₹ 6,000 were not likely to be claimed and hence should be written off.Answer the following questions:I) Calculate the gain on Revaluation? a. ₹ 33,000 b. ₹ 36,000 c. ₹ 30,000 d. None of the above 2) What will be the Land value shown in new Balance sheet? a. ₹ 30,000 b. ₹ 50,000 c. ₹ 80,000 d. ₹ 1,30,000 3) What will be the Creditors value shown in new Balance sheet? a. ₹ 44,000 b. ₹ 50,000 c. ₹ 56,000 d. ₹ 6,000 4) What will be the journal entry for Goodwill? a. Dr. C’s capital a/c ₹25,000; Cr. A’s capital a/c ₹ 25,000 b. Cr. C’s capital a/c ₹25,000; Dr. A’s capital a/c ₹ 25,000 c. Dr. C’s capital a/c ₹1,50,000; Cr. A’s capital a/c ₹ 1,50,000 d. Cr. C’s capital a/c ₹1,50,000; Dr. A’s capital a/c ₹ 1,50,000