Quizzer: Farrah, Denise and Gwen are partners dividing profits and losses in the ratio of 2:3:1 respectively. Their capital balances on December 31, 2018 were P374,500, P574,000, and P339,500, respectively. Gwen is retiring from the partnership as of April 30, 2019. Assume net income is considered as having been realized evenly throughout the year during the year of a partner's retirement. After retirement of a partner, remaining partners would divide profits and losses in the remaining original ratio. The partnership reported net income of P472,500 for the year 2019. Gwen is to be paid an amount, which is 130 percent of his adjusted equity as of the date of his retirement. Which of the following statements is false? A. Upon retirement of Gwen, the balance of the capital account of Farrah amount to P383,110. B. At the end of 2019, the balance of the capital account of Denise is P266,805 higher than the capital account balance of Farrah. C. The capital account of Farrah has a net increase of P134,610 from beginning to end of 2019. D. Upon retirement of Gwen, the capital account of Denise will have a net increase of P12,915 as a result of the transfer of capital