(a) From the following particulars furnished by Mr. Wye, prepare his Trading and Profit & Loss Account for the year ended on 31st March, 2025. Also prepare his Balance Sheet as on 31st March, 2025: 01.04.2024 (₹)31.03.2025 (₹) Creditors6,30,8004,96,000 Expenses Outstanding24,00013,200 Fixed Assets (including machinery)4,64,4004,81,600 Stock in hand3,21,6004,44,800 Cash in hand1,18,40048,000 Cash at bank1,60,0002,75,200 Sundry Debtors6,61,200? Details of the year's transactions are as follows: (₹) Cash and discount credited to debtors25,60,000 Returns from debtors58,000 Bad debts16,800 Gross Sales (Both cash and credit)28,72,400 Discount allowed by creditors28,000 Returns to creditors16,000 Capital introduced by cheque3,40,000 Collection from debtors deposited into bank after receiving cash25,00,000 Cash purchases41,200 Expenses paid by cash3,82,800 Drawings by cheque17,200 Machinery acquired by cheque1,27,200 Cash deposited into bank2,00,000

(b) Mr. P was carrying on a business. On 1st April, 2023, he admitted Q as a partner giving him one-fourth profit. It was agreed that the goodwill of the firm would be ₹24,000. On 1st July, 2023, R was admitted as a partner and it was agreed that the goodwill of the firm be determined at ₹40,000 and the new profit sharing ratio of P, Q and R will be 3:1:1. On 1st September, 2023, S was also admitted as a partner and at this time, goodwill was valued at ₹ 72,000/- and they agreed to share profits in the ratio of 3:1:1:1. On 1st April, 2024, R decided to retire and T was admitted as a partner. Goodwill was agreed at ₹96,000 and the profit sharing ratio amongst P, Q, S and T now agreed to be 5:4:3:4. All these agreements about goodwill have not been taken into account. On 1st April, 2024, when R retires and T is admitted, the partners decided to account for the goodwill by making necessary entries in respect of goodwill in the books without keeping the goodwill account in books. You are required to show working of the goodwill and to pass the required journal entry.