How partnership suddenly showed a significant profit decline

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Reference no: EM133294732

Assignment:

Over the years, Helsinki had drawn money from the firm's account to pay her personal debts, claiming that she was repaying loans that she had incurred for and on behalf of the firm. There was no evidence to suggest that this was the case and the other partners, while they were not happy with what she did, had not publicly complained in partnership meetings, However, things came to a head when the partnership suddenly showed a significant profit decline in 2021 and it was apparent that Helsinki's drawings were contributing significantly to the profit downturn.

Advise the partnership.

Reference no: EM133294732

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