Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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
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. Pald rent $500 with check #101. C. Initiated a petty cash fund $500 with check #102 D. Received $1,000 cash for services rendered. E. Purchased office supplies for $158 with check #103 F. Purchased computer equipment $2,500, paid $1,350 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 $57. Cash on hand $11. Check 106 3. Increased petty cash by $30, check #107. Domingo Company received the following bank statement. Bank Statement Beginning balance $0 Deposits Checks A $11,000 $500 D. 1,000 102 500 103 158 106 489 101 100 Bank service charges 1,747 Total 12,000 $10,253 Ending balance 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
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started