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What was the net income of the brite partnership

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Reference no: EM13890572

Arthur Plack, a partner in the Brite Partnership, has a 30 percent share in partnership profits and losses. Plack's capital account had a net decrease of P60,000 during 2013. During 2013 Plack withdrew P130,000 (charged against his capital account) and contributed property valued at P25,000 to the partnership. What was the net income of the Brite Partnership for 2013.

Reference no: EM13890572

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