Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pls do from Q1 to Q9, take your time and thank you. The given format by my lecturer is like this: During this month, the

Pls do from Q1 to Q9, take your time and thank you.
image text in transcribed
The given format by my lecturer is like this:
image text in transcribed
During this month, the following transactions should be recorded by Wayne Enterprises. Please record each transaction under the accounting equation, with + or - sign. And also calculate the ending balance of assets, liabilities and equity. 1. Batman invested 1,000,000 dollars into Wayne Enterprises. 2. 500,000 dollars were used to buy a new weapon. 3. Wayne Enterprise borrowed 1,000,000 dollars from Citi Bank. 4. The interest of the borrowing during this month was 50,000 dollars and would be due next month. 5. Wayne Enterprise purchased some raw materials on credit, with a price of 10,000 dollars. 6. The salaries of employees incurred during this month was 100,000 dollars and would be paid in the next month. 7. Batman withdrew 200,000 dollars for his personal use. 8. Buy providing a service, Wayne Enterprise realized an income of 20,000 dollars but the money will be received in the next month. 9. Rent expense incurred during the month totaled 100,000 dollars and was paid immediately. Assets = = Liabilities +Equity . +30,000 +30,000 B +1,200 +1,200 +7,200 7,200 D -3,000 -3,000 E

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Lawyers And The Proceeds Of CrimeThe Facilitation Of Money Laundering And Its Control

Authors: Katie Benson

1st Edition

1138744867, 9781138744868

More Books

Students also viewed these Accounting questions

Question

preparing for and completing job interviews and considering offers.

Answered: 1 week ago

Question

What do you think Katsoudas means by the phrase one size fits one?

Answered: 1 week ago

Question

How do you think GM should handle this decision and why?

Answered: 1 week ago