Superman and Batman formed a Stuffing company in partnership on $1$ January $2021.$ The total value invested by both the partners are as follows:

Superman Batman

Cash $$15,000$ $$20,100$

Accounts Receivables $12,00015,000$

Office Supplies $20,0005,000$

Equipments $12,50030,000$

Computer $-6,000$

Land $160,000130,000$

Accounts Payable $24,000-$

Mortgage payables $11,0008,000$

During the year, Superman withdrawn $$28,000$ and Batman made a withdrawal of $$48,000.$ The net profit for the year stands to $$88,000$ and is to be distributed among the partners based on their contribution.

Requirements:

$1.$ Prepare journal entries for recording the investments by both the partners.

$2.$ Journalize the withdrawals for both partners.

$3.$ Close the income summary and drawing accounts with T accounts and closing entriesSuperman and Batman formed a Stuffing company in partnership on $1$ January $2021.$ The total value invested by both the partners are as follows:

$\backslash$table$[[,$Superman,Batman$],[$Cash$,$$$15,000,$$$20,100$