Partners G have withdrawn 65,000 and partner H has withdrawn $1 from the partnership of G & H for the yeear ending December 31. What is the correct entry to close their capital accounts on December 31

a. Debit G capital for 65,000, Debit H capital for $1

b. Debit Each partners Capital accounts for 33,000

C. None of above

D. Debit G Drawing for 65,000 Debit H drawing for 1

2. Dr Cr

Goodwill 100,000

A Capital 40,000

B Capital 40,000

D Capital 20,000

The ajournal entry could result in

a. Recognition of Goodwill

c. Withdrawal of a partner

c. Distribution of net income

D. admission of Partner D