A, B and C were partners in a firm. Their Balance Sheet as at 31st March, 2019 was as follows:
Balance Sheet of A, B and C as at 31st March, 2019

Liabilities	Amount (Rs.)	Assets	Amount (Rs.)
Bill payable	20,000	Bank	20,000
Creditors	40,000	Furniture	28,000
General Reserve	30,000	Stock	20,000
Workmen Compensation Reserve	6,000	Debtors :                   45,000
Capitals :		Less : Provision for doubtful debts        5,000	40,000
A                              60,000		Land & Building	1,20,000
B                             40,000
C                             32,000	1,32,000
	2,28,000		2,28,000

  B retired on 1st April, 2019. A and C decided to share profits in the ratio of 2 : 1. The following terms were agreed upon :

• Goodwill of the firm was valued at 30,000.
• Bad-debts 4,000 were written off. The provision for doubtful debts was to be maintained @ 10% on debtors.
• Land and Building was to be increased to 1,32,000.
• Furniture was sold for 20,000 and the payment was received by cheque.
• Liability towards Workmen Compensation was estimated at 1,500.
• B was to be paid 20,000 through a cheque and the balance was transferred to his loan account.

Prepare Revaluation Account, Partners’ Capital Accounts and Bank Account.

Marks-8, CBSE:2019-20/Main/04/Q-22*