Concept explainers
Domingo Company started its business on January 1, 2019. The following transactions occurred during the month of May. Prepare the
A. The owners invested $10,000 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 $1,350 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 $108, postage expense $77, miscellaneous expense $55. Cash on hand $11. Check #106.
J. Increased petty cash by $30, check #107.
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