Problem 6 Mah, Dah and Lih have capital balances of P600,000, P1,000,000 and P360,000 each respectively and they share profits in the respective ratio of 4:2:1. Dah received P520,000 as a result of liquidating the partnership. partnership also incurred P10,000 liquidation expenses and withheld P2,000 for the unpaid liabilities of the partnership. The How much wil1 Lih receive? A. 240,000 в. 150,000 C. 120,000 D. What is the loss on realization? А. 1,680,000 c. 1,320,000 B. 1,670,000 D. 1,310,000 RSITY

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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