​X and Y are partners in a firm sharing profits in the ratio of 3 : 2 . Their Balance Sheet as at 31st March , 2018 was as follows: Liabilities ₹ Assets ₹ Outstanding Rent 13,000 Cash 10,000 Creditors 20,000 Sundry Debtors 80,000 Less : Provision for D.D. 4,000 76,000 ​Workmen Compensation Reserve 5,600 Capital A/cs: X 50,000 Stock 20,000 Y 60,000 1,10,000 Profit and Loss A/c 4,000 Machinery 38,600 1,48,600 1,48​,600 On 1st April, 2018 , they admitted Z as a partner for 1/6th share on the following terms:(i) Z brings in ₹ 40,000 as his share of Capital but he is unable to bring any amount for Goodwill .(ii) Claim on account of Workmen Compensation is ₹ 3,000.(iii) To write off Bad Debts amounted to ₹ 6,000.(iv) Creditors are to be paid ₹ 2,000 more.(v) There being a claim against the firm for damages , liabilities to the extent of ₹ 2,000 should be created.(vi) Outstanding rent be brought down to ₹ 11,200.(vii) Goodwill is valued at 112 years' purchase of the average profits of last 3 years, less ₹ 12,000 . Profits for the last 3 years amounted to ₹ 10,000 ; ₹ 20,000 and ₹ 30,000.Pass journal entries , prepare Capital Accounts and opening Balance Sheet.