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Domingo Company started its business on January 1, 2019. The following transactions occurred during the month of May. A. The owners invested $10,000 from
Domingo Company started its business on January 1, 2019. The following transactions occurred during the month of May. A. The owners invested $10,000 from their personal account to the business account. B. Paid rent $600 with check #101. C. Initiated a petty cash fund $600 with check #102. D. Received $1,100 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. 1. Petty cash reimbursement: office supplies $256, maintenance expense $108, postage expense $77, miscellaneous expense $55. Cash on hand $116. Check #106. 3. Increased petty cash by $30, check #107. Domingo Company received the following bank statement. Bank Statement Beginning balance 50 Deposits Checks A. $10,000 101 $600 D. 1,100 102 600 103 158 106 484 Bank service charges 100 Total 11,100) 1,942 Ending balance $9,158
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