Pass Journal Entries and Prepare Revaluation Account, Capital Accounts and the Balance Sheet of the reconstituted firm.

Ahmed and Wahid are partners sharing profits and losses in the ratio of 3:1. Their Balance sheet as on March 31, 2021 is as follows. Liabilities Amount (RO) Assets Amount (RO) Creditors 315000 Cash 26250 Bills Payable 105000 Debtors 367500 General Reserve 210000 Stock 157500 Capital: o Plant 131250 Ahmed 420000 Buildings 525000 Wahid 210000 Profit & Loss Ac 52500 Bank Overdraft 315000 Equipment 315000 Total 1575000Total 1575000 On April 01, 2021, they agreed to admit Khalid into the firm for 1/5th Share of future profits on the following terms: a) Building is revalued at 630000 b) Stock is revalued at 112875 c) Goodwill is raised at 210000 d) Provision for bad debts is to be made at 5% 0 e) Khalid has to bring in a Capital 262500 f) Khalid was unable to bring the amount of goodwill