Lexy and ACE partnership's balance sheet at December 31, 2019 reported the following balances.

Total assets P187,500

Total liabilities 37,500

Lexy, capital 75,000

Ace, capital 75,000

On January 2, 2021, LEXY and ACE dissolved their partnership and transferred all assets and liabilities to a newly formed corporation. At the date of incorporation, the fair value of the net assets was P22,500 more than the carrying amount on the partnership's books. Of which P12,500 was assigned to tangible assets and P10,000 was assigned to patent. LEXY and ACE were each issued 5,000 shares of the corporation's P12.50 par common stock.

3. Immediately following incorporation, additional paid-in capital in excess of par should be credited for