DIRECTION Read the following case study and answer the questions. 1 to 4 on the basis of the same.U and V were partners sharing profits and losses in the proportion of 2:3 the following in the Balance Sheet of U and V on 31st March,2018.They admit Z for 1/5th share into partnership on 1st April, 2018, on the following terms. (i) Z brings ₹ 30,000 as capital (ii) Goodwill of the firm is valued on the basis of Z’s share in profit and capital contributed by him. (iii) The provision on debtors is to be created @5%. (iv) Fixtures and stock are to be decreased by 10%. (v) The value of premises be appreciated by 10%1. What was loss/profit on the revaluation and by how much amount? (a) Loss ₹ 1,500 (b) Loss ₹ 750 (c) Profit ₹ 1,500 (d) Profit ₹ 750 2.What was the amount of total capital of firm according to Z’s share ? (a) ₹ 30,000 (b) ₹ 90,750 (c) ₹1,50,000 (d) ₹ 750 3.What was the amount of goodwill of the firm ? (a) ₹ 6,150 (b) ₹ 30,750 (c) ₹ 60,750 (d) Can’t be determined 4.General reserve given in the balance sheet will be distributed among ……… partners in …….ratio. (a) new, new (b) old, old (c) old, sacrificing (d) old, new