### Journal Entries for Educational Purposes---**I. Journal Entries:**1. **Office Supplies**: - Amount: 2562. **Maintenance Expense**: - Amount: 1083. **Miscellaneous Expense**: - Amount: 554. **Postage Expense**: - Amount: 755. **Cash Over and Short**: - Amount: 126. **Cash**: - Amount: 482**J. Journal Entry:**1. **Petty Cash**: - Amount: 302. **Cash**: - Amount: 30---**Instructions:**Prepare a trial balance using the journal entries. If an amount box does not require an entry, leave it blank.---**Domingo Company** **Trial Balance** **May 31, 2019**| Account | Debit | Credit ||---------|-------|--------|| | | || | | || | | || | | || | | || | | || | | || | | || | | || Total | | |**Explanation for Diagram:**- The diagram is a table format representing a trial balance, where accounts need to be listed with corresponding debit and credit amounts based on previous journal entries.- The trial balance ensures that debits equal credits, which is fundamental in accounting bookkeeping.- The total row indicates that sums will be calculated to ensure the balance. ### Domingo Company Transactions Summary - May 2019Domingo Company began operations on May 1, 2019. The following transactions were recorded in May:**A. Investment by Owners**- The owners transferred $1,000 from their personal account to the business account. - **Journal Entry:** - Debit: Cash $1,000 - Credit: Domingo, Capital $1,000**B. Rent Payment**- Paid rent amounting to $500 using check #101. - **Journal Entry:** - Debit: Rent Expense $500 - Credit: Cash $500**C. Petty Cash Fund Establishment**- Initialized a petty cash fund of $500 using check #102. - **Journal Entry:** - Debit: Petty Cash $500 - Credit: Cash $500**D. Services Income**- Received $1,000 cash for services provided. - **Journal Entry:** - Debit: Cash $1,000 - Credit: Services Income $1,000**E. Office Supplies Purchase**- Bought office supplies worth $158 with check #103. - **Journal Entry:** - Debit: Office Supplies $158 - Credit: Cash $158**F. Computer Equipment Purchase**- Purchased computer equipment totaling $2,200. Paid $1,350 with check #104 and agreed to pay the balance within 30 days. - **Journal Entry:** - Debit: Computer Equipment $2,200 - Credit: Cash $1,350 - Credit: Accounts Payable $850**G. Additional Services Income**- Received an additional $800 cash for services provided. - **Journal Entry:** - Debit: Cash $800 - Credit: Services Income $800**H. Wages Payment**- Paid wages amounting to $800 with check #105. - **Journal Entry:** - Debit: Wages Expense $800 - Credit: Cash $800**I. Petty Cash Reimbursement**- Reimbursed petty cash expenses: - Office supplies $256, maintenance expense $108, postage expense $75, miscellaneous expenses $55, cash on hand $18 via check #106. - **Summary of Reimbursements:** - Office Supplies: $256 - Maintenance Expense

Name: ### Journal Entries for Educational Purposes---**I. Journal Entries:*
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Description: ### Journal Entries for Educational Purposes---**I. Journal Entries:**1. **Office Supplies**: - Amount: 2562. **Maintenance Expense**: - Amount: 1083. **Miscellaneous Expense**: - Amount: 554. **Postage Expense**: - Amount: 755. **Ca

Business

Accounting

I. Office Supplies 256 Maintenance Expense 108 Miscellaneous Expense 55 Postage Expense 75 Cash Over and Short 12 Cash 482 J. Petty Cash 30 Cash 30 Prepare a trial balance using the journal entries. If an bunt box does not require an entry, leave blank, Domingo Company Trial Balance May 31, 2019 Account Debit Credit Total

I. Office Supplies 256 Maintenance Expense 108 Miscellaneous Expense 55 Postage Expense 75 Cash Over and Short 12 Cash 482 J. Petty Cash 30 Cash 30 Prepare a trial balance using the journal entries. If an bunt box does not require an entry, leave blank, Domingo Company Trial Balance May 31, 2019 Account Debit Credit Total

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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