Domingo Company started its business on January 1, 2019. The following transactions occurred during the month of May. A. The owners invested $11,000 from their personal account to the business account. B. Paid rent $500 with check #101. C. Initiated a petty cash fund $600 with check #102. D. Received $1,200 cash for services rendered. E. Purchased office supplies for $158 with check #103. F. Purchased computer equipment $2,500, paid $1,250 with check #104, and will pay the remainder in 30 days. G. Received $800 cash for services rendered. H. Paid wages $600, check #105. I. Petty cash reimbursement: office supplies $256, maintenance expense $112, postage expense $79, miscellaneous expense $57. Cash on hand $108. Check # 106. J. Increased petty cash by $30, check # 107. Domingo Company received the following bank statement. Bank Statement Beginning balance $0 Deposits Checks A. $11,000 101 $500 D. 1,200 102 600 103 158 106 492 Bank service charges 100 Total 12,200 1,850 Ending balance $10,350 Prepare the bank reconciliation. Domingo Company Bank Reconciliation Bank Statement Balance at (date) Add: Less: Adjusted Bank Balance Book Balance at (date) Less: Adjusted Book Balance

Domingo Company started its business on January 1, 2019. The following transactions occurred during the month of May. A. The owners invested $11,000 from their personal account to the business account. B. Paid rent $500 with check #101. C. Initiated a petty cash fund $600 with check #102. D. Received $1,200 cash for services rendered. E. Purchased office supplies for $158 with check #103. F. Purchased computer equipment $2,500, paid $1,250 with check #104, and will pay the remainder in 30 days. G. Received $800 cash for services rendered. H. Paid wages $600, check #105. I. Petty cash reimbursement: office supplies $256, maintenance expense $112, postage expense $79, miscellaneous expense $57. Cash on hand $108. Check # 106. J. Increased petty cash by $30, check # 107. Domingo Company received the following bank statement. Bank Statement Beginning balance $0 Deposits Checks A. $11,000 101 $500 D. 1,200 102 600 103 158 106 492 Bank service charges 100 Total 12,200 1,850 Ending balance $10,350 Prepare the bank reconciliation. Domingo Company Bank Reconciliation Bank Statement Balance at (date) Add: Less: Adjusted Bank Balance Book Balance at (date) Less: Adjusted Book Balance

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 3PA: Domingo Company started its business on January 1, 2019. The following transactions occurred during...

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