Identify the correct accounting sequence when a new partner is to bring proportionate capital into the firm.A. Calculation of Capital Balance of old partnersB. Preparation of Revaluation A/cC. Determination of Revaluation gain/lossD. Presentation of Treatment of GoodwillE. Calculation of Capital to be brought in by the new partnerChoose the correct answer from the options given below:

The process of configuring capital adjustments on admission follows a clear chronological dependencies order:Step 1 (B): First, set up and open the Revaluation Account.Step 2 (C): Balance that account to find the net Revaluation gain or loss.Step 3 (D): Journalize and pass adjustments for the treatment of Goodwill (Premium for Goodwill distribution).Step 4 (A): Evaluate and determine the final adjusted capital balances of the existing old partners.Step 5 (E): Use these adjusted balances to compute the total capital of the firm and find the final proportionate capital to be brought in by the new incoming partner.Hence, the sequence is B, C, D, A, E.