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Tito, Vic, and Joey decided to admit Allan, a new partner into the TVJ Partnership. Tito, Vic, and Joey share profits in the ratio of

Tito, Vic, and Joey decided to admit Allan, a new partner into the TVJ Partnership. Tito, Vic, and Joey share profits in the ratio of 3:2:1, respectively. The statement of financial position of the TVJ Partnership shows the following:

CashP142,500Receivables, net163,750Equipment, net256,250Liabilities117,500Tito, Capital180,000Vic, Capital140,000Joey, Capital125,000

The partners decided to revalue the equipment to P206,250 and recognized also the Net Income before Allan's admission amounting to P166,000. Allan is to invest P 230,000 for 1/4 interest in capital and profit share.What are the total adjusted capital balances of Tito, Vic, and Joey before the admission of Allan?

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