1. We Hate Eachother Partnership has two partners, Hans and Gretal. Hans has an existing capital balance as of January 1st of $10,000 while Gretal has a balance of $15,000. Each partner gets a monthly salary of $500, and also receive 2% of their start of their year capital balance as an extra share of income. The partnership had net income of the year of $30,000. All remaining net income after any necessary allocations is split evenly. Make the journal entry showing the distribution of net income to each partners capital account:

2. Hans and Gretal now have a new partnership where they have a capital balance of $20,000 and $28,000 respectively. Goldilocks wants to join the partnership and pays $25,000 for a 1/3 share of the partnership. Journalize the necessary entry to show Goldilocks joining the partnership and either the increase or decrease to Hans and Gretal's capital balances.