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 $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 $1,250 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 $110, postage expense $77, miscellaneous expense $57. Cash on hand $8. 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. 1,000 102 500 103 158 106 492 Bank service charges 100 Total 12,000 1,750 Ending balance $10,250
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 $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 $1,250 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 $110, postage expense $77, miscellaneous expense $57. Cash on hand $8. 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. 1,000 102 500 103 158 106 492 Bank service charges 100 Total 12,000 1,750 Ending balance $10,250
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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