Adminission of a partnerPartical problens1. The following was the balance sheet of ram &Rahim, who were sharing profits & losses in the ratio 2:3 their balance sheet as on 31 march 2015 was as underLiabilitiesBills Payable 25000Trade creditors 50000General Reserve 20000profile & loss a/c 10000capital: ramu. 50000 rahim. 30000Total. 1 85000AssetsBank 10000Debtors 40000stock. 30000investment 20000furniture. 25000building. 60000Total. 185000on 1st pril 2015 they agreed to admit mr.Peteras new Partner 1/5th share in profits on the following termsfor good will in cash.and opening balance sheet of now tiom.the ratio of 23 Their balance sheet as on.(a) Peter should bring 40000 for capital & 20,000 for good will in cashb) Depreciates furniture by 5% and stock by 10%(C) Appreciate building value by 15%.(d) Provide for bad debts at 5% on Debtors give necessary journal entries and ledger a/c and opening balance sheet of new firm​