Street, Rhode and Close carried on business in partnership sharing profits and losses, in the ratio 5 : 4 : 3. Their draft statement of financial position as on 31 March 20X2 was as follows:

Street retired from the partnership on 31 March 20X2 and Rhode and Close decided to carry on the business and to admit Lane as a partner who is to bring in capital of £10,000. Future profits are to be shared equally among Rhode, Close and Lane.
By agreement, the following adjustments were to be incorporated in the books of account as at 31 March 20X2:
1. Plant and machinery to be increased to £6,900 in accordance with a valuer's certificate.
2. Inventory to be reduced to £4,860, since some items included therein were regarded as un saleable.
3. The provision for doubtful debts to be increased to £830.
4. Provision to be made for the valuer's charges, £140. The partnership deed provided that on the retirement of a partner, the value of goodwill was to be taken to be an amount equal to the average annual profit of the three years ending on the date of retirement. The profits of such three years were:
Year ended 31 Mar 20X0 £7800
Year ended 31 Mar 20X1 £9400
Year ended 31 Mar 20X2 £11600
The partners agreed that, in respect of the valuing of goodwill, the profits should be regarded as not being affected by the revaluation. It was decided that an account for goodwill should not be opened in the books, but that the transactions between the partners should be made through their capital accounts.
£3,000 was repaid to Street on 1 April 20X2 and she agreed to leave £12,000 as a loan to the new partnership. Rhode, Close and Lane promised to repay the balance remaining due to Street within six months.
Required
You are required to prepare:
a. the revaluation account.
b. the partners' capital accounts (in columnar form).
c. Street's account showing the balance due to her.
d. the statement of financial position of Rhode, Close and Lane as on 1 April 20X2.

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ASSETS Prov for depn Non-current assets Leasehoid premises Plant and machinery 8,000 2,700 3,500 7 200 6 500 13,700 17,200 Current assets 5400 Trade receivables Provision for doubtful debts 4,200 1750) 3.450 16850 30 550 Total assets EQUITY AND LIABILITIES Equity capital - Rhode - Close 500 6,000 4,500 19000 Current occounts -Street - Close Total equity Non-current liabilities 3,300 22300 4000 4000 Loan: Steet Total non-current liabilities Current liabilities Trade poyobles Total current liabilities Total equity and liabilities 4 250 30550