X, Y and Z are partners sharing profits and losses in the ratio of 3 : 2 : 1 . The Balance Sheet of the firm as at 31st March, 2018 stood as follows: Liabilities Amount (₹) Assets Amount (₹) Creditors 21,000 Cash at Bank 5,750 Workmen's Compensation Reserve 12,000 Debtors 40,000 Investments Fluctuation Reserve 6,000 Less: Provision for D. Debts 2,000 38,000 Capital A/cs: Stock 30,000 X 68,000 Investments ( Market Value ₹ 17,600) 15,000 Y 32,000 Patents 80,000 Z 21,000 1,21,000 Machinery 50,000 Advertisement Expenditure 5,250 Goodwill 6,000 1,60,000 1,60,000 Z retired on the above date on the following terms:(a) Goodwill of the firm is to be valued at ₹ 34,800.(b) Value of Patents is to be reduced by 20% and that of machinery to 90%.(c) Provision for Doubtful Debts is to be created 6% on debtors.(d) Z took over the investment at market value .(e) Liability for Workmen Compensation to the extent of ₹ 750 is to be created .(f) A liability of ₹ 4,000 included in creditors is not to be paid .(g) Amount due to Z to be settled on the following basis: ₹ 5,067 to be paid immediately , 50% of the balance within one year and the balance by a Bill of Exchange ( without interest ) at 3 Months.Give necessary journal entries for the treatment of goodwill , prepare Revaluation Account , Capital Accounts and the Balance Sheet of the new firm.