1. The capital balances of C, P and A respectively are:

C, P and A are sole proprietors looking to form a new partnership. C is to contribute cash of P150,000 and his delivery vehicle originally bought at P160,000 but has a second-hand value of P100,000. P is to contribute cash amounting to P200,000 and furniture worth P40,000 but was only acquired by P for P36,000 Partner A, whose family business is to sell computers contributed cash of P80,000 and computers and printers with a regular price of P160,000 but with a cost of P140,000. CPA Partnership stipulates their P and L ratio to be 3:2:3