Q79.X and Y are partners sharing profits and losses in the ratio of 3/4 and 1/4. Their Balance Sheet as at 31st March, 2019 is:

They admit Z into partnership on 1st April, 2019 on the following terms:

1. Goodwill is to be valued at 1,00,000.
2. Stock and Furniture to be reduced by 10%.
3. A Provision for Doubtful Debts is to be created @ 5% on Sundry Debtors.
4. The value of Land and Building is to be appreciated by 20%.
5. Z pays 50,000 as his capital for 1/5th share in the future profits.

You are required to show Revaluation Account, Partners' Capital Accounts and Balance Sheet of the new firm.