Problem #3 Rules for the Distribution of Profits or Losses 44 Elisa Diaz and Ma. Concepcion Manalo formed a partnership, investing P330,000 and Vy P110,000, respectively. Determine the partners' participation in the 2016 profit of P420,000 under each of the following independent assumptions: a. No agreement concerning division of profit. b. Divided in the ratio of original capital investment. c. Interest at the rate of 8% allowed on original investments and the remainder divided in the ratio of 2:3.

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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