Case - 4 Omer, Saif and Mundir are partners sharing profit and losses in the ratio of 4:3:3 respectively. Their balance sheet is given below. Balance sheet as at 31st March 2020. Liabilities Amount Assets (OMR) Building 10,000 Debtors Amount (OMR) 8,000 Sundry Creditors Reserve Fund 6,000 8,000 Stock 8,000 Capital Omer 12,000 Saif 8000 Mundir 10,000 Trademark 9,000 Machinery 7,000 Cash at Bank 10,000 30,000 10,000 Debtors Reserve Fund 8.000 Stock 8.000 Trademark Capital Omer 12.000 Saif 8000 Mundir 10,000 9,000 7.000 Machinery 30,000 Cash at Bank 10,000 Total 48.000 Total 48,000 Omer died on April 1" 2020. It was agreed between his executors and the remaining partners that; a) Goodwill to be valued at three years purchase of the average profits of the last four years which were OMR 10,000, OMR 12,000, OMR 8,000 and OMR 10,000 b) Trademark be valued at OMR 10,000, Machinery at OMR 10,000 and Building at OMR6,000 c) Profit for the current year is OMR10,000 d) Interest on capital is 6% p.a. One third of the amount due to Omer to be paid immediately You are required to Prepare; a) Omer's Capital Account (3 marks) by Omer's Executors Account (1 mark) c) Revaluation Account (2 marks) Why Omer is entitled to share of goodwill of the firm? (2 marks) Distinguish between sacrificing ratio and gaining ratio. (2 marks)