Balance Sheet as on \( 31.03 .2017 \)
\begin{tabular}{|l|c|l|r|}
\hline \multicolumn{1}{|c|}{ Liabilities } & \multicolumn{1}{c|}{\( ₹ \)} & \multicolumn{1}{c|}{ Assets } & \multicolumn{1}{c|}{\( ₹ \)} \\
\hline \multicolumn{1}{|c|}{ Creditors } & 40,000 & Cash at Bank & 6,000 \\
Gen. Reserve & 15,000 & Stock & 24,000 \\
Capitals: Vani & 60,000 & Debtors & 30,000 \\
\multicolumn{1}{|c|}{ Veena } & 40,000 & Furniture & 20,000 \\
\( \hdashline \) & & Machinery & 60,000 \\
& Goodwill & 15,000 \\
\hline
\end{tabular}
On 01.04.2017 they admitted Rani as new partner into partnership on the following conditions.
(a) Rani is to bring in \( ₹ 30,000 \) as capital and offer \( 1 / 6 \) th share in future profits.
(b) Goodwill of the firm is valued at \( ₹ 25,000 \).
(c) Machinery is appreciated by \( 10 \% \) and stock is reduced by \( 10 \% \).
(d) Furniture revalued at \( ₹ 18,000 \) and investments worth \( ₹ 2,000 \) not recorded in balance sheet is to be taken into account.
(e) PDD is created at \( 5 \% \) on debtors.
Prepare: (i) Revaluation Account. (ii) Partners Capital Accounts. (iii) New Balance sheet of the firm.
