2. The Following was the Balance sheet of A and B who were sharing profits two thirds and one third on 1st December 2020. Liabilities Amount Assets Amount (RO) (RO) Creditors 65,900 Cash at Bank 1,200 Capitals Sundry debtors 9,700 30,000 Stock 20,000 B 20,000 Plant and Machinery 35,000 Building 50,000 115,900 115,900 They agreed to admit C into Partnership on the following terms: a. C was to be given one third share in profits and was to bring RO 15,000 as Capital b. That the value of stock and plant were to be reduced by 10% c. That the Building Account was to be appreciated by RO 9,500 d. Investment worth RO 400 (not mentioned in the balance sheet) were taken into account Record Necessary Journal Entries and Prepare Revaluation accounts, partners capital accounts and Balance sheet of the new firm