Tomas and Saturn Are Partners Who Share Income in the Ratio

question 143

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. Income Summary has a credit balance of $30,000. What is Saturn's capital balance after closing Income Summary to Capital?

• A) $102,500
• B) $120,000
• C) $112,500
• D) $127,500

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Definitions:

Dual System

A system that combines two different methodologies, structures, or principles, often seen in education or governance.

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A framework that outlines how a business intends to generate income through its professional services or offerings.

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A continuous, irreversible sequence in which events occur from the past, through the present, into the future.