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's capital balance after closing Income Summary to the capital accounts?
a. $102,500
b. $22,500
c. $57,500
d. $127,500
a
Business
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What will be an ideal response?
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There are many options available to consumers when it comes to breakfast cereals. So, if Kellogg's significantly increases the price of Rice Krispies, consumers are more apt to buy alternate cereals instead. This illustrates which concept?
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