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QUESTION
Tomas and Saturn are partners who share income in the ratio of 3: Their capital balances are $80,000 and $120,000 respectively. Income Summary has a...
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?
