Trial Balance as on 31st March, 2019 Debit Balance 80,000 Amt. Credit Balance 4,000 Capital Ac Abdullah 88.000 Zaher 1.76.000 Mahmood 23.500 Cuma AC Zaher 15.000 Current Ac Mahmood 8.000 Sundry Creditors 2,600 Bank overdraft 3,000 Sales 90.000 130.000 3.600 3.NOO 4.000 Current Ac - Abdullah Opening stock Purchases Wages Salaries Office expenses Bank charges Legal charges Machinery Land and Building Interest Export duty Bad debts Sundry Debtors Travelling Expenses Electricity charges Furniture Equipment 30,000 80,000 2.500 2.500 100 000 60.000 308.000 82.000 3.200 2.300 37.000 40.000 716,000 716,000 Adjustments: Stock on hand on 31st March, 2019 was valued at OMR 80,000. 2) Accrued expenses: Salaries OMR 3,000, Wages OMR 2,400. ,,Depreciate Machinery at 10% p.a. Land and Building at 5% p.a. Provision for Bad and doubtful debts at 5% on Sundry Debtors. s Legal charges paid in advance paid in advance OMR 1,200. . The following were agreed upon: a) Abdullah is entitled to a salary of OMR 1,000 per month b) Interest on capital is 5% p.a. B. Admission of a New Partner (2 marks) 1. Explain the treatment of goodwill at the time of the admission of a new partner. 2. Explain the following adjustments required at the time of admission of a partner. a) Calculation of New Profit Sharing Ratio. b) Revaluation of Assets and Liabilities of the firm