Hilda and TIgreal are combining their separate business to form a partnership. Cash and non-cash assets are to be contributed for a total capital of P600,000. The non-cash assets to be contributed and the liabilities to be assumed are as follows:

Hilda Tigreal

BVFVBVFV

Accounts receivable40,00040,000

Merchandise inventory60,000100,00040,00050,000

Equipment120,00090,00080,000100,000

Accounts payable 30,00030,00020,00020,000

Partners' capital accounts are to be equal after all the contribution of assets and the assumption of liabilities.

Required:

a.How much is the cash to be contributed by Hilda?

b.How much is the total assets of the partnership?