A, B and C were partners in a firm sharing profits and losses according to their Capital. On 1st April 2020 their Balance Sheet was as follows:

Balance Sheet of A, B and C (as on 1st April 2020)

	OMR	OMR
Cash Debtors Less: Provision Stock Machinery Buildings Creditors General Reserve Capitals: A B C	40,000 (2,000) 160,000 80,000 80,000	28,000 38,000 36,000 100,000 200,000 402,000 42,000 40,000 320,000 402,000

On the above date B retired and following was agreed:

(i) Buildings to be appreciated by 19%

(ii) Provision for bad debts to be increased to 7% on debtors

(iii) Machinery to be depreciated by 10%

(iv) Goodwill of the firm valued at OMR 16,000

(v) 15% of the amount payable to B was paid in Cash and balance was transferred to her Loan Account

Required:

(a) You are required to show all the ledger accounts necessary to record the revaluation.

(b) Draw up a balance sheet as at 1 April 2020