9. Calma and Abello formed a partnership on April 1 and contributed the following assets: Cash Land Calma P 150,000 Abello P 50,000 310,000 The land was subject to a mortgage of P30,000, which was assumed by the partnership. Under the partnership agreement, Calma and Abello will share profit and loss in the ratio of one-third and two-thirds, respectively. Abello's capital account at April 1 should be 1-46 | WIN Ballada's Partnership and Corporation Accounting a. P330,000. b. P360,000. C. P300,000. d. P340,000