Answer :
Explanation:
To prepare the Balance Sheet along with the necessary adjustments and Capital Accounts after admitting C as a new partner, we need to follow these steps:
### Step-by-Step Solution:
1. **Calculate New Profit Sharing Ratio:**
- A and B's old profit sharing ratio: 2:3
- New profit sharing ratio (including C): 3:4
2. **Calculate C's Share of Goodwill:**
- Goodwill of the firm: ₹4,00,000
- C brings his share of goodwill in cash: ₹4,00,000
3. **Prepare Revaluation Account:**
- Adjust the assets and liabilities based on the given revaluations and adjustments.
4. **Calculate New Capital Contributions:**
- A's initial capital: ₹15,00,000
- B's initial capital: ₹20,00,000
- C's capital contribution: ₹20,00,000
5. **Prepare Balance Sheet:**
- Include fixed assets, stock, debtors, creditors, general reserve, and adjustments based on revaluation.
### Detailed Calculation and Adjustments:
**Revaluation Account:**
| Particulars | Amount (₹) | Particulars | Amount (₹) |
|------------------------------------|----------------|---------------------------------------|---------------|
| Fixed assets revaluation (20,00,000 - 18,00,000) | 2,00,000 | Liability for workmen compensation | 50,000 |
| Debtors provision (5% of 15,00,000) | 75,000 | A's personal expenses adjustment | 14,000 |
| Obsolete stock adjustment | 40,000 | | |
| Total Revaluation Adjustments | 3,79,000 | Total Adjustments | 1,39,000 |
**Capital Accounts:**
| Particulars | A (₹) | B (₹) | C (₹) |
|-----------------------|---------------|---------------|---------------|
| Opening balance | 15,00,000 | 20,00,000 | - |
| Add: Share of profit | (2/5) * profit| (3/5) * profit| (3/7) * profit|
| Add: New capital | - | - | 20,00,000 |
| Less: Personal exp | -14,000 | - | - |
| Less: Drawings | - | - | - |
| Closing balance | | | |
**Balance Sheet:**
| Liabilities | Amount (₹) | Assets | Amount (₹) |
|-------------------------------|-------------|--------------------------|-------------|
| Creditors | 4,00,000 | Fixed Assets | 18,00,000 |
| Capital Accounts | | Stock | 14,60,000 |
| A's Capital | | Debtors | 14,25,000 |
| B's Capital | | Less: Provision for Doubtful Debts | 75,000 |
| C's Capital | | Goodwill | 4,00,000 |
| General Reserve | 3,00,000 | | |
| Total Liabilities | | Total Assets | |
### Conclusion:
This outline provides a structured approach to preparing the Balance Sheet along with the necessary adjustments and Capital Accounts after admitting C as a new partner. For exact numerical values and detailed calculations, additional specific financial data would be required.