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DERHA, a senior partner in an auditing firm, has a 30% participation in the firm's profit and losses. During 2021, DERHA withdrew P62,400 against her

DERHA, a senior partner in an auditing firm, has a 30% participation in the firm's profit and losses. During 2021, DERHA withdrew P62,400 against her capital but contributed property with a fair value of P12,000. DERHA's capital increased by P7,200 during 2021.

2. The net income of the partnership for 2021 is

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