Tomas and Saturn Are Partners Who Share Income in the Ratio

question 35

Multiple Choice

Tomas and Saturn are partners who share income in the ratio of 3:1. Their capital balances are $80,000 and $120,000, respectively. The partnership generated net income of $30,000. What is Tomas's capital balance after closing the revenue and expense accounts to the capital accounts?

• A) $102,500
• B) $22,500
• C) $57,500
• D) $127,500

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