Q1. Record each of the above transactions in general journal including the explantion/narration. Use the following account titles to journalize the transactions Majestic Computers: a. Cash e. Accounts Payables . Accounts Receivables j. Salaries b. Capital c. Rent d. Furniture f. Purchases g. Computer & Software h. Sales k. Drawings I. Insurance expenses Q2. Prepare the end-of-month report to account for the incomes and expenses of Majestic Computers under Cash basis accounting. Q3. Prepare the end-of-month report to account for the incomes and expenses of Majestic Computers under Accrual basis accounting:
Q1. Record each of the above transactions in general journal including the explantion/narration. Use the following account titles to journalize the transactions Majestic Computers: a. Cash e. Accounts Payables . Accounts Receivables j. Salaries b. Capital c. Rent d. Furniture f. Purchases g. Computer & Software h. Sales k. Drawings I. Insurance expenses Q2. Prepare the end-of-month report to account for the incomes and expenses of Majestic Computers under Cash basis accounting. Q3. Prepare the end-of-month report to account for the incomes and expenses of Majestic Computers under Accrual basis accounting:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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PICTURE ONE IS THE QOU
PICTURE2 IS SAMPLE PLEASE DO THE SAME TABLE STYLE
Transcribed Image Text:Q1. Record each of the above transactions in general journal including the explantion/narration. Use the following
account titles to journalize the transactions Majestic Computers:
a. Cash
e. Accounts Payables
. Accounts Receivables j. Salaries
b. Capital
c. Rent
d. Furniture
f. Purchases g. Computer & Software h. Sales
k. Drawings
I. Insurance expenses
Q2. Prepare the end-of-month report to account for the incomes and expenses of Majestic Computers under Cash
basis accounting.
Q3. Prepare the end-of-month report to account for the incomes and expenses of Majestic Computers under Accrual
basis accounting:
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