A, B and C are partners sharing profits and losses

36 :- A, B and C are partners sharing profits and losses in the ratio of 4:3:3. Their balance sheet as at 31^st March 2025 is:

On 1st April, 2025, B retired from the firm on the following terms;
(a) Goodwill of the firm is to be valued at Rs 14,000
(b) Stock, Land and building are to be appreciated by 10%
(c) Plant and machinery and computer printer are to be reduced by 10%
(d) Sundry debtors are considered to be good
(e) Provision for legal charges to be made at Rs 2,000
(f) Amount payable to B is to be transferred to his loan account.
Prepare revaluation account, partners capital accounts and the balance sheet of A and C after B’s retirement.

Solution :-