Case 2. The partnership of Liza and Joy has been successful in its operation for operation for years now. Their respective capital balances and profit and loss agreement that is contained in the Article of Co-Partnership follows: Liza Joy Capital P240,000 P260,000 P/L ratio 3 5 Old Partner New Partner No bonus Transactions 1. Susan invests P300,000 for a 1/3 interest of the new firm 2. Susan invests P300,000 for a 40% interest in the new firm 3. Susan invests P300,000 for a interest in the new firm, with agreed capitalization equal to contributed capital Case 2. The partnership of Liza and Joy has been successful in its operation for operation for years now. Their respective capital balances and profit and loss agreement that is contained in the Article of Co-Partnership follows: Liza Joy Capital P240,000 P260,000 P/L ratio 3 5 Old Partner New Partner No bonus Transactions 1. Susan invests P300,000 for a 1/3 interest of the new firm 2. Susan invests P300,000 for a 40% interest in the new firm 3. Susan invests P300,000 for a interest in the new firm, with agreed capitalization equal to contributed capital