Tomas and Saturn are partners who share income in the ratio of 3:1 (3/4 to Tomas and 1/4 to Saturn). Their capital balances are $80,500 and $59,500, respectively. The partnership generated net income...




Tomas and Saturn are partners who share income in the ratio of 3:1 (3/4 to Tomas and 1/4 to Saturn). Their capital balances are $80,500 and $59,500, respectively. The partnership generated net income of $41,700. What is Tomas's capital balance after closing the revenue and expense accounts to the capital accounts?





a.$127,619

b.$116,874

c.$111,775

d.$106,895



Jun 10, 2022
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