33. Akash, Bhuvan and Chirag were partners sharing profits and losses in the ratio of \( 2: 2: 1 \). Their Balance Sheet as on 31.03 .2019 was as follows : Balance Sheet as on 31-03-2019 \begin{tabular}{|l|r|lr|c|} \hline \multicolumn{1}{|c|}{ Liabilities } & \begin{tabular}{c} Amount \\ (\%) \end{tabular} & \multicolumn{1}{|c|}{ Assets } & \begin{tabular}{c} Amount \\ (\%) \end{tabular} \\ \hline Creditors & 32,000 & Cash in Hand & & 24,500 \\ Bills payable & 24,000 & Bills Receivable & 22,000 \\ Reserve Fund & 32,000 & Debtors & 42,000 & \\ Profit and Loss A/c & 10,000 & (-) PBD & 2,000 & 40,000 \\ \hline \end{tabular} 74 Sulalitha - Accountancy \begin{tabular}{|lr|l|ll|l|} \hline Capitals: & & & Stock & & 38,000 \\ Akash & 70,000 & & Furniture & & 24,000 \\ Bhuvan & 50,000 & & Machinery & & 40,000 \\ Chirag & 30,000 & \( 1,50,000 \) & Buildings & 60,000 \\ \hline & Total & \( 2 , 4 8 , 0 0 0 \) & & Total & \( 2 , 4 8 , 0 0 0 \) \\ \hline \end{tabular} On 01-04-2019 Chirag retired due to change of resisdence and the following adjustments were made: a) Goodwill of the firm was valued at Rs, 20,000 (as per AS 26). b) PBD inceased by Rs. 1,000 . c) Buildings to be valued at Rs. 62,000 and stock valued at Rs. 36,000 d) An investment not recorded in the books, costing Rs, 6,000 has to be taken into account. e) Chirag is to be paid Rs. 10,000 immediately after his retirement and the balance transfer to his loan account. Prepare: i) Revaluation Account ii) Partner's Capital Accounts and iii) New Balance Sheet.
