(Answered) Question - tucker and titus are partners who share income

Accounting

Question - Tucker and Titus are partners who share income in the ratio of 3:1. Their capital balances are $40,000 and $60,000, respectively. Income Summary has a credit balance of $40,000 after the second closing entry. What is Tucker's capital balance after closing Income Summary to the capital accounts?

a. $70,000

b. $40,000

c. $10,000

d. $80,000

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