# Franco and Jason share income and losses in a 2:1 ratio after allowing for salaries to Franco of \$15,000 and \$30,000 to Jason.

Franco and Jason share income and losses in a 2:1 ratio after allowing for salaries to Franco of \$15,000 and \$30,000 to Jason. If the partnership suffers a \$15,000 loss, by how much would Jason’s capital account increase?1. \$20,0002. \$10,0003. \$40,000 4. \$25,000Tomas and Saturn 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 \$20,000. What is Saturn’s capital balance after closing Income Summary to Capital? 1. \$55,000 2. \$75,0003. \$65,000 4. \$45,000Carla and Eliza share income equally. During the current year the partnership net income was \$40,000. Carla made withdrawals of \$12,000 and Eliza made withdrawals of \$17,000. At the beginning of the year, the capital account balances were: Carla capital, \$42,000; Eliza capital, \$55,000. Eliza’s capital account balance at the end of the year is 1. \$75,0002. \$82,000 3. \$52,000 4. \$58,000Tomas 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’ capital balance after closing Income Summary to Capital? 1. \$22,5002. \$57,500 3. \$102,500 4. \$127,500