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 P120,000 P300,000 Cash Automobile Delivery trucks Computer and printer Office furniture Land and building P100,000 85,000 280,000 51,000 35,000 25,000 1,500,000 P1685 000 P486,000 P325.000 Although Juan has contributed the most cash to the partnership, he did not have the full anount 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 total capital investment of all the parteersa opening of business on April 30?

Jose P100.000 85 000 Pedro P120,000 Juan P300,000 Cash Automobile Delivery trucks Computer and printer Office furniture Land and building 280 000 51000 35 000 25,000 1 500 000 P1 685.000 P486 000 P325 000