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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

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

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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