Question
21. Verst, Brown and Sullivan have a partnership. Pertinent information is as follows: Verst Brown Sullivan Capital balance 50,000 120,000 30,000 Profit and loss percentage
21. Verst, Brown and Sullivan have a partnership. Pertinent information is as follows:
| Verst | Brown | Sullivan | |
| Capital balance | 50,000 | 120,000 | 30,000 |
| Profit and loss percentage | 25% | 50% | 25% |
Sullivan retires and the partnership pays him $35,000. What is the balance in Verst
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Auditing A Risk Based Approach
Authors: Karla M Johnstone-Zehms, Audrey A. Gramling, Larry E. Rittenberg
12th Edition
035772187X, 978-0357721872
