Record Necessary Journal Entries and Prepare Revaluation accounts, partners capital accounts and Balance sheet of the new firm. 3. A, B and C are partners sharing profits and losses equally. The balance sheet at 31st December 2020 is as follows. tsoo 18,000 -- 101 3,500 - S Liabilities Amount Assets (RO) Amount (RO) Cash at Bank Creditors 5,000 C's Current Account 3,000 Reserves 6,000 Bills Receivable 2,500 Current Accounts 2,000 Acurrent Debtors 5,000 AB 3,000 3 20,000 10,000 19,000 Less: Provision Capital 15,000 1,000 ABC 10,000 Stock Fixtures 51,000 51,000 C retires in that date and the following adjustment are to be made for the purpose: a. Goodwill is to be valued at RO 12,000 b. Fixtures to be depreciated by 5% c. Stock to be appreciated by 10% d. Bad debts provision is to be increase by RO 500 The amount due to be transferred to his loan account. Pass Journal entries. open partners' capital accounts and revaluation account and prepare the opening balance sheet of continuing partners