X, Y and Z were partners in a firm sharing profits in the proportions of 1/2, 1/3 and 1/6 respectively. The Balance Sheet of the firm on 31stMarch 2001 was as follows:

LiabilitiesAmt.AssetsAmt.Trade Creditors15,000Cash at bank5,000Employees Provident Fund6,000Debtors40,000Reserve Fund18,000Less: Provision2,00038,000CapitalsStock30,000X65,000Investments15,000Y30,000Patents10,000Z20,000115000Plant & Machinery50,000Goodwill6,0001,54,0001,54,000Z retired on the above date on the following terms:a)Goodwill of the firm was valued at Rs. 30,000b)Value of patents was to be reduced by 20% and that of plant & machinery to 90%.c)Provision for doubtful debts was to be raised to 6 %.d)Z took over the investments at a value of Rs.17,600.e)Liability for workmen's compensation to the extent of Rs. 375 is to be created.f)Trade creditors to the extent of 2.5 % are not likely to claim their dues.g)Amount due to Z is to be settled on the following basis:50 % on retirement, 50 % of the balance to be paid in 2 equal half yearly installments carrying interest at 5 % p.a. and the balance by a Bill of Exchange (without interest) at 3 months.The entire capital of the firm as newly constituted is fixed at Rs.100, 000 and the partners' capital accounts are to be adjusted in the profit sharing ratio. Any excess is to be transferred to current account and any deficit is to be brought in cash

Question-1Prepare Revaluation account, Partners' Capital accounts