Emeka and Fatima have been partners in E&F Consultants, an Abuja-based management consulting firm, sharing profits and losses equally. On 1 July 2023, they admitted Garba as a new partner. The following information is relevant: 1. The Balance Sheet of E&F Consultants immediately before Garba's admission showed: Assets: Goodwill: Nil (not previously recognised) Office Equipment (Net Book Value): N800,000 Trade Receivables: N350,000 Cash and Bank: N250,000 Total Assets: N1,400,000 Liabilities and Capital: Trade Payables: N200,000 Capital - Emeka: N700,000 Capital - Fatima: N500,000 Total: N1,400,000 2. On admission of Garba, the partners agreed as follows: (i) Goodwill of the existing partnership is valued at N480,000. No goodwill account is to be maintained in the books; the goodwill adjustment is to be made through capital accounts only. (ii) Office equipment is to be revalued to N920,000. (iii) A provision for doubtful debts of 4% of trade receivables is to be created. (iv) Garba is to introduce N400,000 cash as his capital contribution. (v) The new profit-sharing ratio after admission is Emeka: Fatima: Garba = 5:3:2. Required: (a) Prepare the Revaluation Account as at 1 July 2023. (6 marks) (b) Prepare the Partners' Capital Accounts in columnar format showing all adjustments on admission of Garba. (10 marks) (c) Prepare the Balance Sheet of E&F Consultants immediately after Garba's admission. (9 marks) Total: 25 marks