N S and G were partners in a firm sharing profits and losses in the ratio of 2 3 5 On 31st March 201...........

N, S and G were partners in a firm sharing profits and losses in the ratio of 2 : 3 : 5. On 31st March, 2016 their Balance Sheet was as under:

G retired on the above date and it was agreed that:

a Debtors of  6,000 will be written off as bad debts and a provision of 5% on debtors for bad and doubtful debts will be maintained.

b Patents will be completely written off and stock, machinery and building will be depreciated by 5%.

c An unrecorded creditor of  30,000 will be taken into account.

d N and S will share the future profits in 2 : 3 ratio.

e Goodwill of the firm on G's retirement was valued at 90,000.

Pass necessary Journal entries for the above transactions in the books of the firm on G's retirement.