Land 603,000 Building 428.267 Furniture and fixtures 50.345 34.789 Other assets 2.000 3.600 Total P1,020.916 P1.317,002 Account Payable 178,940 243,605 Notes Payable 200,000 345,000 John, Capital 641,976 Paul,Capital 728.352 Total P1,020.916 P1.317.002 John and Paul to form a partnership their respective assets and equities subject to the following adjustments: a. Accounts receivable of P20,000 in John's books and P35,000 in Paul's are uncontrollable. b. Inventories of P50,000 and P6,700 are worthless in John's and Paul's respective books. C. Other assets of P2,000 and P3,600 in John's and Paul's respective books are to be written off. The capital account of the partners after the adjustments will be: a. John's P614,476 Paul's 683,052 b. John's P615,942 and 717,894 C. John's P649,876 and Paul's 712,345 d. John's P613,576 and Paul's 683,350