At the year end, first the Profit and Loss A/c is prepared to determine net profit (B). Then the Profit and Loss Appropriation/Adjustment A/c distributes profit among partners (C). Then partners' Capital Accounts are updated (A). Finally the Balance Sheet is prepared (D). Correct sequence: B, C, A, D.
Note: We have interpreted 'Profit and Loss Adjustment A/c' in the question as Profit and Loss Appropriation A/c, which is the statement normally prepared in this sequence for a partnership firm.