Yes, this is the ‘other side’ of the equations, it’s not Ohm’s Law any more, these are Kirchoff’s Laws
Voltage in parallel is the same, voltage in series adds
current in series stays the same, current in parallel adds
If you apply this concept to the circuit of a 12V source feeding a 3.4V LED with a 1K resistor in series, you can see how Ohm’s Law then determins how much current will flow through the resistor and the LED (the same) and how much voltage will be dropped by the LED and how much by the resistor (3.4V in the LED because it’s a propery of the LED, and 12-3.4 in the resistor)
You know know that the resistor is dropping 8.6V. You know it is a 1K resistor, so using Ohm’s Law you cna find the current, E/R, 8.6/1000, 8.6mA. Applying Kirchoff’s Laws, current in series are the same, so if 8.6mA is going through the resistor, then 8.6mA will also be flowing through the LED. ANd since this is below the maximum allowed for the LED, we are done and can use a 1K resistor safely.
Now, if you put two LEDs in parallel, with just one resistor, assuming they have the exact same voltage drop, they will each get only half the current, in this case 4.3mA. And here you can start to see why you shold use 1 resistor per LED and not try to skimp on a 2 cent part. You may be empirically familiar with light bulbs in series vs parallel, especially Christmas lights that have the little bypass shunts in them so that despite being wired in series, if one burnsout, the rest stay on. That comes at a cost. Assume 100 lights in series, each rated at 1.2V, plugged in to 120VAC outlet. Perfect, each bulb gets 1.2V - voltage in series adds, remember.
Now, say 10 of them burn out, but because they have those shunts, the rest stay on. 90 bulbs. Awith 120VAC feeding them. Now each bulb gets 1.33 volts - which will just reduce the life of each one. Until more burn out - increasing the death rate of the remaining ones. Like an