Ranran, Sansan, and Tantan are forming a new partnership. The following are their contributions: • Ranran is to invest cash of P100,000 and stapling equipment originally costing P120,000 but has a...

Ranran, Sansan, and Tantan are forming a new partnership. The following are their contributions:
    •    Ranran is to invest cash of P100,000 and stapling equipment originally costing P120,000 but has a second-had market value of P50,000.
    •    Sansan is to invest cash of P 160,000.
    •    Tantan, whose family is engaged in selling stapling equipment, is to contribute cash of P50,000, and a brand-new stapling equipment to be used by the partnership with a regular price of P 120,000 but which cost their family's busmess P100,000.

• The partners agreed to share profits and loss equally.
The capital balances upon formation are: