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 Tomas' capital balance after closing Income Summary to Capital?

a. $127,500
b. $102,500
c. $57,500
d. $22,500

Answer rating: 100% (QA)

As the income summary shows a capital balance of ... View the full answer