Acc/557 week 3 chapter problems – guaranteed a+

ACC/557 Week 3 Chapter 4 (E4-5,E4-7,E4-13,P4-4A) 


Exercise 4-5 
The adjustments columns of the worksheet for Munoz Company are shown below
Account Titles Debit Credit 
Accounts Receivable 600 
Prepaid Insurance 400 
Accumulated Depreciation—Equipment 900 
Salaries and Wages Payable 500 
Service Revenue 600 
Salaries and Wages Expense 500 
Insurance Expense 400 
Depreciation Expense 900 
2,400 2,400
(a) Prepare adjusting entries in order presented in the problem. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 
(b) Indicate with an “X” the financial statement column to which each balance should be extended 

Exercise 4-7 
Lanza Company had the following adjusted trial balance. 
Adjusted Trial Balance 
For the Month Ended June 30, 2014 
Account Titles Debit Credit
Cash 3,712
Accounts Receivable 3,904
Supplies 480 
Accounts Payable 1,556
Unearned Service Revenue 160
Common Stock 4,000
Retained Earnings 1,760
Dividends 600 
Service Revenue 4,300
Salaries and Wages Expense 1,344
Miscellaneous Expense 180 
Supplies Expense 1,900
Salaries and Wages Payable 344
12,120 12,120

a. Prepare closing entries at June 30, 2014. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 
b. Prepare a post-closing trial balance. 

Exercise 4-13 
Kogan Company has an inexperienced accountant. During the first 2 weeks on the job, the accountant made the following errors in journalizing transactions. All entries were posted as made. 
1. A payment on account of $840 to a creditor was debited to Accounts Payable $480 and credited to Cash $480. 
2. The purchase of supplies on account for $380 was debited to Equipment $38 and credited to Accounts Payable $38. 
3. A $500 cash dividend was debited to Salaries and Wages Expense $500 and credited to Cash $500. 

Prepare the correcting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 

Problem 4-4A 
Excelsior Amusement Parkhas a fiscal year ending on September 30. Selected data from the September 30 worksheet are presented below. 
Excelsior Amusement Park 
For the Year Ended September 30, 2014 
Trial Balance Adjusted Trial Balance 
Dr. Cr. Dr. Cr. 
Cash 34,400 34,400 
Supplies 18,600 2,200 
Prepaid Insurance 29,900 10,900 
Land 80,000 80,000 
Equipment 120,000 120,000 
Accumulated Depreciation-Equip. 36,200 42,200 
Accounts Payable 14,600 14,600 
Unearned Ticket Revenue 3,900 1,000
Mortgage Payable 50,000 50,000 
Common Stock 60,000 60,000 
Retained Earnings 36,100 36,100 
Dividends 14,000 14,000 
Ticket Revenue 277,900 280,800 
Salaries and Wages Expense 98,000 98,000 
Maintenance and Repairs Expense 30,500 30,500 
Advertising Expense 9,400 9,400 
Utilities Expense 16,900 16,900 
Property Tax Expense 21,000 24,000 
Interest Expense 6,000 8,000 
Totals 478,700 478,700 
Insurance Expense 19,000 
Supplies Expense 16,400 
Interest Payable 2,000
Depreciation Expense 6,000 
Property Taxes Payable 3,000
Totals 489,700 489,700 

(a) Prepare a complete worksheet 
(b) Prepare a classified balance sheet. (Note: $15,000 of the mortgage note payable is due for payment in the next fiscal year.) (List assets in order of liquidity and liabilities from largest to smallest eg 10, 5, 3, 2, with notes first.)
(c) Journalize the adjusting entries using the worksheet as a basis.
(d) Journalize the closing entries using the worksheet as a basis.
(e) Prepare a post-closing trial balance.



Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Acme Homework has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Papers Owl, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email:

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Papers Owl has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.


Essay Writing Services

At Papers Owl, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.


Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.


Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.


Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.

error: Content is protected !!