|Capital A/c :||Stock||42,000|
|X – 82,000||Building||2,07,000|
|Y – 60,000||Patents||9,000|
|Z – 75,500||2,17,500|
Y retired on 1st April, 2019 on the following terms:
(a) Goodwill of the firm was valued at Rs. 70,000 and was not to appear in the books.
(b) Bad Debts amounted to Rs. 2,000 were to be written off.
(c) Patents were considered as valueless.
Prepare Revaluation Account, Partners’ Capital Accounts and the Balance Sheet of X and Z after Y’s retirement.