A and B are partners in a firm shaing profits in the ratio of 3 : 2. They admit C as a partner on 1st April, 2019 on which date the Balance Sheet of the firm was:

You are required to parpare the Revaluation Account, Partners' Capital Accounts and Balance Sheet of the new firm after considering the following:
(a) C brings RS.30,000 as Capital for 1/4th share. He also brings RS.10,000 for his for share of goodwill.
(b) Part of the Stock which had been included at cost of RS.2,000 had been badly damaged in storage and could only expect to realise RS.400.
(c) Bank changes had been overlooked and amounted to RS.200 for the year 2018-19.
(d) Depreciation on Building of RS.3,000 had been omitted for the year 2018-19.
(e) A credit for goods for RS.800 had been omitted from both purchases and creditors although the goods had been correctly included in Stock.
(f) An expense of RS.1,200 for insurance premium was debited in the Profit and Loss Account of 2018-19 but RS.600 of this are related to the period after 31st March, 2019.

Explanation

Loss on Revaluation-RS.5,000, Partners' Capital A/cs: A-RS.63,000, B-RS.42,000, C-RS.30,000, Balance Sheet Total-RS.1,55,800.