Assume you received a frantic call from an attorney. He received 1,000 documents for a case that you haven’t heard about for a year. He apologizes but he needs you to review and put a certification together of what you/ll need
You are to bring to class your certification of the documents you missed as the ones you received do not assist you.
The case involves two accountants that have split up on December 1, 2015. One partner alleges that the other has taken more distributions. You been tasked to develop an accounting to prove Partner A’s allegation.
Entity is a Partnership
The ownership is 50-50
The keep excel spreadsheets to track income and costs
The submit the spreadsheets to there CPA – HR Block
Remember you are preparing this for court. I have attached what to consider. Remember your are only to think from the accounting information you’ll need tp prove the allegation. I start you. Bank Statement for the years the partnership is existence to-date for all accounts. The rest is up to you. Think!