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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![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a8da5b2-6ded-413c-9ecd-d81425a9892b%2F2998da7d-64af-4a81-ad0e-8e843a76aaa0%2F0e5sqg_processed.png&w=3840&q=75)
Transcribed Image Text: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
![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
%24
%24](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a8da5b2-6ded-413c-9ecd-d81425a9892b%2F2998da7d-64af-4a81-ad0e-8e843a76aaa0%2Fbyzar1b_processed.png&w=3840&q=75)
Transcribed Image Text: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
%24
%24
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