The total of the partners' capital accounts P770,000 before the recognition of partnership asset revaluation in preparation for the withdrawal of a partner whose profit or loss sharing is 20%. He was...

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Extracted text: The total of the partners' capital accounts P770,000 before the recognition of partnership asset revaluation in preparation for the withdrawal of a partner whose profit or loss sharing is 20%. He was paid P196,000 by the firm in final settlement for his interest. The remaining partners' capital accounts, excluding their share of the asset revaluation, totaled P630,000 after his withdrawal. The total asset revaluation of the firm agreed upon was * 196,000 56,000 O 280,000 O 140,000