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Verst, Brown and Sullivan Have a Partnership

Question 28

Multiple Choice

Verst, Brown and Sullivan have a partnership. Pertinent information is as follows: Verst, Brown and Sullivan have a partnership. Pertinent information is as follows: Sullivan retires and the partnership pays him $35,000. What is the balance in Verst's capital account after the sale assuming goodwill was recognized by all of the partners? A) 50,000 B) 51,667 C) 55,000 D) 58,333 Sullivan retires and the partnership pays him $35,000. What is the balance in Verst's capital account after the sale assuming goodwill was recognized by all of the partners?


A) 50,000
B) 51,667
C) 55,000
D) 58,333

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