09:54 3 0 classmarker.com/test 15 Time left: 1:19:48 Question 1 of 25 Points: 2 Jose, Pedro and Juan formed a partnership on April 30, with the following assets, measured at their fair market values, contributed by each partner: Jose Pedro Juan Cash P100,000 P120.000 P300.000 Automobile 85,000 Delivery trucks 280,000 Computer and printer 51,000 Office fumiture 35 000 25,000 Land and building 1,500,000 P1 685 000 P486 000 P325 000 Although Juan has contributed the most cash to the partnership, he did not have the full amount of P300, 000 available and was forced to borrow P200, 000. The land and building contributed by Jose has a mortgage of P900, 000 and the partnership is to assume responsibility of the loan. If the profit and loss sharing agreement is 40 percent, 40 percent , and 20 percent respectively for Jose, Pedro and Juan, what is the total capital investment of all the partners at the opening of business on April 30? A) P2, 496,000 B) P1, 596,000 C) P1, 396,000 D) P1, 664,000 E) None of these