Ammar and Anood are Partners in a firm sharing profit and losses in the ratio of 6:4 respectively. Their Balance sheet as on 31/12/2020 was as follows: Liabilities Amount(RO) Assets Amount(RO) Creditors 40,000 Cash at Bank 2,000 Debtors 25,000 Capital: Ammar 40,000 Stock 40,000 a. Anood 30,000 70,000 Plant and Machinery 43,000 110,000 110,000 The Partners agree to take Afrah as a Partner on the following terms: That Afrah will pay RO 20,000 as Capital for 1/4th of Future profit of the firm. b. That the assets are to be revalued before her admission. The stock to be reduced to RO 35,000 and Plant and Machinery be depreciated by 10% That a provision of 2.5% be created against debtors. You are required to prepare Revaluation account, Partners Capital account and Balance sheet of the new firm and Answer the following Multiple Choice Questions. c. Question 21 Time Based on the given case study, what is the capital balance of Ammar? Not yet answered Marked out of 1.00 O a. RO 33,970 O b. RO 26,030 Oc RO 34,045 O d. RO 45,955 P Flag question Question 22 Based on the given case study, what is the capital balance of Anood? Not yet answered Marked out of 1.00 O a. RO 45,955 Ob. RO 34,045 Oc RO 33,970 d. RO 26,030 P Flag question Question 23 When a New Partner is admitted which of the following adjustment is necessary? Not yet answered Marked out of 1.00 a. Transfer of Accumulated reserves b. All of the options given Oc Treatment of Goodwill Od Transfer of Undistributed profit and loss Flag question Question 24 What value of stock shown in the Revaluation Account? Not yet answered Marked out of 1.00 O a. RO 35,000 O b. RO 40,000 O C. RO 5,000 O d. None of the option given Flag question Question 25 What Journal entry is recorded for Revaluation profit when a New Partner is admitted? Not yet answered O a. Marked out of 1.00 Dr. Revaluation Account and Cr. Old Partners Capital Account O b. Dr. Old Partners Capital Account and Cr. Revaluation Account Oc. Dr. All Partners Capital Account and Cr. Revaluation Account O d. Dr. Revaluation Account and Cr. All Partners Capital Account P Flag