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Prepare a trial balance using the journal entries. If an amount box does not require an entry, leave it blank.

Prepare a trial balance using the journal entries. If an amount box does not require an entry, leave it blank.

FINANCIAL ACCOUNTING
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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Domingo Company started its business on May 1, 2019. The following transactions occurred during the month of May and the following entries were recorded. A. The owners invested $8,500 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 $2,000, paid $1,350 with check #104, and will pay the remainder in 30 days. G. Received $800 cash for services rendered. H. Paid wages $800, check #105. I. Petty cash reimbursement: office supplies $256, maintenance expense $108, postage expense $77, miscellaneous expense $55. Cash on hand $15. Check #106. J. Increased petty cash by $30, check #107. A. Cash 8,500 Domingo, Capital 8,500 В. Rent Expense 500 Cash 500 C. Petty Cash 500 Cash 500 D. Cash 1,000 Services Income 1,000 Е. Office Supplies 158 Cash 158 F. Computer Equipment 2,000 Cash 1,350 Accounts Payable 650 G. Cash 800 Services Income 800 Н. Wages Expense 800 Cash 800 I. Office Supplies 256 Maintenance Expense 108
Transcribed Image Text:Domingo Company started its business on May 1, 2019. The following transactions occurred during the month of May and the following entries were recorded. A. The owners invested $8,500 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 $2,000, paid $1,350 with check #104, and will pay the remainder in 30 days. G. Received $800 cash for services rendered. H. Paid wages $800, check #105. I. Petty cash reimbursement: office supplies $256, maintenance expense $108, postage expense $77, miscellaneous expense $55. Cash on hand $15. Check #106. J. Increased petty cash by $30, check #107. A. Cash 8,500 Domingo, Capital 8,500 В. Rent Expense 500 Cash 500 C. Petty Cash 500 Cash 500 D. Cash 1,000 Services Income 1,000 Е. Office Supplies 158 Cash 158 F. Computer Equipment 2,000 Cash 1,350 Accounts Payable 650 G. Cash 800 Services Income 800 Н. Wages Expense 800 Cash 800 I. Office Supplies 256 Maintenance Expense 108
I. Office Supplies 256 Maintenance Expense 108 Miscellaneous Expense 55 Postage Expense 77 Cash Over and Short 11 Cash 485 J. Petty Cash 30 Cash 30 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 Cash Petty Cash Office Supplies Computer Equipment Accounts Payable Domingo, Capital Services Income Rent Expense Wages Expense Maintenance Expense Miscellaneous Expense Cash Over and Short Postage Expense Total
Transcribed Image Text:I. Office Supplies 256 Maintenance Expense 108 Miscellaneous Expense 55 Postage Expense 77 Cash Over and Short 11 Cash 485 J. Petty Cash 30 Cash 30 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 Cash Petty Cash Office Supplies Computer Equipment Accounts Payable Domingo, Capital Services Income Rent Expense Wages Expense Maintenance Expense Miscellaneous Expense Cash Over and Short Postage Expense Total
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