You are given the tollowing independent situations: P350,000 1. A new partner, Eva is admitted on January 1,2016 who gave her car to Mel in exchange for half of her equity. The car costs P250,000 but has a book value of P200,000 and a market value of P120,000. Eva, Capital will be credited for a) P60,000 b) P100,000 c) P50,000 d. P125,000 Entry to record the purchase: Revised Partners' Equity