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 31st March 2001 was as follows: Liabilities Trade Creditors Employees Provident Fund Reserve Fund Capitals X 65,000 Y 30,000 Z 20,000 Amt. 15,000 6,000 18,000 Assets Amt. Cash at bank 5,000 Debtors 40,000 Less: Provision 2,000 38,000 30,000 Stock Investments 15,000 Patents 10,000 115000 Plant & Machinery 50,000 Goodwill 6,000 1,54,000 1,54,000 Z retired on the above date on the following terms: a) Goodwill of the firm was valued at Rs. 30,000 b) 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 Prepare revaluation account,capital account,balance sheet and z's loan account till its paid