Can somebody help me?

John Mark Cadua who has been in business for a quite long time has decided to venture in partnership business with Michael Auditor. The Statement of Financial Position of ; Cadua prior to the inception of the partnership revealed the following balances: Cash P 85,000 Accounts Receivable 60,000 Allowance for Doubtful Accounts 4,000 Merchandise 120,000 Equipment 150,000 Acc. Depreciation-Equipment 30,000 Accounts Payable 80,000 J. Cadua, Capital ? As agreed, Auditor will contribute cash equal to one-half (1/2) of the capital balance of Cadua after taking into account the following adjustments: a. The allowance for doubtful accounts is over set-up by P3,000. b. Merchandise should be valued at P105,000 due to obsolescence. c. The equipment is under depreciated by P15,000. d. Accounts Payable was overstated by P4,000 due to recording of an expense. Required: 1. Compute the capital account balance of Cadua prior to partnership formation. Partnership - Nature and Formation 2. Prepare the necessary adjusting entries in the book of Cadua by directly effecting his capital account. 3. Prepare a journal entry to close the book of Cadua. 4. Prepare a journal entry to open the book of the partnership. This will record the contribution of Cadua and Auditor. s. Prepare a Statement of Financial Position after the partnership formation