Partners WAG, MAG, PANG, and GAP, shares profits at the ratio 5:3:1:1. June 30, relevant partners' accounts follow: On Advances Loans Capital Dr. Cr. Cr. WAG 20,000 40,000 160,000 120,000 60,000 100,000 МAG PANG 18,000 LOUIS GAP 10,000 On this day, cash partners as profits. P72,000 is declared as available for distribution to Who among the partners will benefit from the P72,000 cash distribution? A. PANG and GAP C. WAG and MAG В. MAG and GAP All equally D.

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is