Mr. Deepak and Mr. Abhishek were in partnership sharing profits and losses in the proportion of 3:1 respectively. Their Balance Sheet as on 31st March 2019 stood as follows:
\[\begin{array}{|l|r|l|r|} \hline \text{Liabilities} & \text{Amount (₹)} & \text{Assets} & \text{Amount (₹)} \\ \hline Capital Account: & & Land and Building & 32,000 \\ \hline Mr. Deepak & 1,20,000 & Plant and Machinery & 60,000 \\ \hline Mr. Abhishek & 40,000 & Furniture & 22,000 \\ \hline General Reserve & 16,000 & Stock & 40,000 \\ \hline Sundry Creditors & 80,000 & Sundry Debtors & 64,000 \\ \hline Bank Overdraft & 42,000 & Cash & 80,000 \\ \hline Total: & 2,98,000 & Total: & 2,98,000 \\ \hline \end{array} \]
They admitted Adinath into partnership on 1st April 2019 on the terms that:
\[\begin{array}{rl} \bullet & \text{Adinath shall bring in ₹ 40,000 as his capital for a 1/5 share in future profits and ₹ 20,000 as his share of goodwill.} \\ \bullet & \text{Furniture to be depreciated by 20\%.} \\ \bullet & \text{Stock should be appreciated by 10\%.} \\ \bullet & \text{Building should be appreciated by 5\%.} \\ \bullet & \text{A provision for 5\% R.D.D. to be created on sundry debtors.} \\ \bullet & \text{Capital accounts of all partners be adjusted in their new profit-sharing ratio through cash account.} \\ \end{array}\] Prepare: \[\begin{array}{rl} \bullet & \text{(a) Revaluation Account} \\ \bullet & \text{(b) Partners' Capital Account} \\ \bullet & \text{(c) New Balance Sheet of the firm} \\ \end{array}\]