Tucker and Titus are partners who share income in the ratio of 3:1 ( 3/4...
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Tucker and Titus are partners who share income in the ratio of 3:1 ( 3/4 to Tucker and 1/4 to Titus). Their capital balances are $45,500 and $63,300, respectively. The partnership generated net income of $48,800 for the year. What is Tucker's capital balance after closing the revenue and expense accounts to the capital accounts? a. $98,520 b. $65,680 c. $49,260 d. $82,100
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Tucker and Titus are partners who share income in the ratio of 3:1 ( 3/4 to Tucker and 1/4 to Titus). Their capital balances are $45,500 and $63,300, respectively. The partnership generated net income of $48,800 for the year. What is Tucker's capital balance after closing the revenue and expense accounts to the capital accounts? a. $98,520 b. $65,680 c. $49,260 d. $82,100 