A, B and C are in partnership sharing profits and losses in the ratio of 50 : 25 : 25 per cent. Each partner receives a salary of £40,000 and interest on opening capital balance of 15 per cent per year. The draft statement of financial position at the year end 31 March 20X9 is as follows:

The partners agreed to admit D on 31 March 20X9. D agreed to introduce £200,000 of capital. The partners have agreed to share the profits as follows A (40 per cent), B (30 per cent), C (20 per cent) and D (10 per cent). Goodwill on that date is valued at £600,000 and is not to be brought into the books. It is agreed that inventories are worth £360,000 and trade receivables £140,000.
All other entries are of similar value to the book value amounts shown in the above statement of financial position.
You are required to prepare the:
a. Appropriation account for the year ended 31 March 20X9;
b. Revaluation account;
c. Partners’ capital and current accounts;
d. Revised final statement of financial position at 31 March 20X9, after the introduction of D as partner.

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Draft statement of financial position for ABC as at 31 March 20X9 £'000 £'000 500 240 740 Non-current assets Fixtures Motor vehicles Current assets Inventories Trade receivables Allowance for irrecoverable debts Bank Total assets EQUITY AND CAPITAL Equity capital 300 120 420 200 (40) £'000 200 120 320 280 160 240 680 1,000