2. X, Y and Z are partners sharing profit in the ratio of 3:21. Their balance sheet as on December 31st 2016 is as under Balance sheet as on December 31st, 2016 Amount Assets Liabilities (RO) Account Payables 220800 (RO) 100,000 Business Premises 200,000 Loan From Bank 220,000 Machinery 30 150,000 General reserve Capital: 30,000 350,000 Delivery Van 40,000 X 170,000 Inventory 32 Receivables 120,000 63,000 Less Provision for bad 125,000 debt. 3,000 60,000 200,000 125,000 420,000 Bank Dhofar Z retires on that date on the following terms: 770,000 (a) The Goodwill of the firm is valued at RO 60,000. (b) Inventory132000 and Business Premises at 220000 to be revalued. (c) Machinery is valued 133000. Prepare: Partner's Capital account. Answer: Capital Accounts X Y Z X Y 770,000 N