Dr. 60.000 Bank Alc To Seema Capital Alc (Seema bring her share of Capital for 1/4 th share of profit) 60,000 50.000 Bank A/C Dr. To Pinky's Capital Alc To Qumar's Capital A/C To Roopa's Capital Alc (Amount brought by Pinky. Qumar and Roopa to make capital equal to their proportion) 10,000 35.000 5.000 Q30: The following was the Balance Sheet of Arun, Bablu and Chetan sharing profits and losses 6 53 in the ratio of 14 14 14 respectively. 948 Amount Amount Liabilites Creditors Bills Payable Capital Accounts Arun (Rs) Assets 9,000 Land and Buildings 3,000 Furniture Stock Debtors (Rs) 24,000 3.500 14.000 12.600 19,000 Cash 90X0 Bablu Chetan 16.000 8.000 43.000 55.000 55,000 They agreed to take Deepak into partnership and give him a share of 1/8 on the following terms: (a) that Deepak should bring in Rs 4,200 as goodwill and Rs 7,000 as his Capital; (b) that furniture be depreciated by 12%: (e) that stock be depreciated by 10%; (d) that a Reserve of 5% be created for doubtful debts; (e) that the value of land and buildings having appreciated be brought upto Rs 31,000; () that after making the adjustments the capital accounts of the old partners (who continue to share in the same proportion as before be adjusted on the basis of the proportion of Deepak's Capital to his share in the business, i.e., actual cash to be paid off to, or brought in by the old partners as the case may be. Prepare Cash Account, Profit and Loss Adjustment Account (Revaluation Account) and the Opening Balance Sheet of the new firm