Arrange the following accounting procedures in the correct chronological sequence followed at the time of admission of a new partner:(A) Adjustments of capital accounts.(B) Valuation of goodwill.(C) Calculation of new profit sharing ratio and sacrificing ratio.Choose the correct answer from the options given below:

When a new partner is admitted, the logical and operational accounting workflow is as follows:First, determine how profits will be distributed going forward by executing the Calculation of new profit sharing ratio and sacrificing ratio (C).Second, evaluate the reputation value of the firm to adjust for the incoming partner's share by completing the Valuation of goodwill (B).Lastly, once all profits, revaluation balances, and goodwill adjustments are compiled, process the final layout via the Adjustments of capital accounts (A).Hence, the correct sequence is (C), (B), (A).