Tucker and Titus are partners who share income in the ratio of 3:1. Their capital balances...

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Tucker and Titus are partners who share income in the ratio of 3:1. Their capital balances are $32,700 and $61,900, respectiv

business accounting

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Answer 1

Answer #1

Answer - (d) $64,050

Net income share = 75% (3/4) of $41,800 = $31,350

Tucker closing capital balance account = Opening Capital + Net income

= $32,700 + $31,350

= $64,050

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Answer 2

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