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in number 1. How much would be credited the total partnership capital as of April 1, 2019

On April 1, 2019, Jhim and Ces decided to combine their businesses and form a partnership. Their balance sheet on this date, before adjustments, is given below: Cash Accounts receivable Inventories Furnitures & Fixtures -net Office equipment Prepaid Expenses Total Jhim P 180,000 370,000 600,000 600,000 230,000 12.750 Ps 1992 750 Ces P 70,500 270,000 390,000 180,000 50,500 6,000 PA967000 Accrued Expenses Capital Total P 911 500 1081250 NP 1992.750 360,000 607.000 PA967.000 The parties agreed that Ces will make additional cash Investment to give her 50% interest in the firm, after making the necessary adjustments staked below! a.) Provide 5% allowance for doubtful accounts on each accounts receivable. b.) Inventories should be recognized only at 80% of their book values. c) Furnitures and fixtures of him sovervalued by P 25.000 while the equipment of Ces is overvalued by P 11,500. d.) Prepaid expenses of P 6.000 for him and 2 000 for des is to be recognized. e.) Accrued expenses of P3.000 or him and P1,000 for des is to be recorded. The partnership will use a new set of accounting books 2 On March 1, 2019 the balance in Pablo's capital account should be: To input answers, kindly follow the sample format below(no peso sign, with comma, no space): ex. 100,000 Failure to follow the format will invalidate your answer (1 Point) On March 1, 2019, Santos and Pablo formed a partnership with each contributing the following assets: Santos Pablo Cash P30,000 P70,000 Machinery and equipment 25,000 75.000 Building 225.000 Furniture and fixtures 10,000 The building is subject to a mortgage loan of P80,000/ which is to be assumed by the partnership. The partnership agreement provides that Santos and Pablo share profits and losses 30% and 70%, respectively. Enter your