Following is the Balance Sheet of A and B, who had been sharing profits in proportion of 3/4th and 1/4th as at 31st March, 2019:

They admit C into partnership on 1st April, 2019 on the following terms:
(i) C pays RS.14,000 as his capital for 1/5th share in the future profits.
(ii) Goodwill is valued at RS.20,000. C is unable to bring cash for his share of goodwill.
(iii) Stock and Furniture be reduced by 10% and 5% Provision for Doubtful Debts be created on Debtors.
(iv) Land and Building be appreciated by 20%.
(v) Capital Accounts of the partreciated be readjusted on the basis of their profito-sharing arrangement and any excess or deficiency is to be transferre to their Currnet Accounts.
Prepare Revaluation Account, Partners' Capital Accounts and the Balance Sheet of the new firm.