Following is the Balance Sheet of X and Y as at 31st March, 2018 who are partners in a firm sharing profits and losses in the ratio of 3 : 2 respectively: Liabilities Amount Rs Assets Amount Rs Creditors 45,000 Cash at bank 15,000 General Reserve 36,000 Capital A/cs: Debtors 60,000 X 1,80,000 Less: Provision for Doubtful Debts 2,400 57,600 Y 90,000 2,70,000 Patents 44,400 Current A/cs: Investments 24,000 X 30,000 Fixed Assets 2,16,000 Y 6,000 Goodwill 30,000 36,000 3,87,000 3,87,000 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three years which were ₹ 90,000 ; ₹ 78,000 and ₹ 75,000 respectively.(h) Half of the amount of the goodwill is to be withdrawn by X and Y .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.