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ACC557 Week 3 E4-5 E4-7 E4-13 P4-4A

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ACC557 Week 3 E4-5 E4-7 E4-13 P4-4A

E4-5 The adjustments columns of the worksheet for Munoz Company are shown below

E4-7 Lanza Company had the following adjusted trial balance.

(a) Prepare closing entries at June 30, 2014.
(b) Prepare a post-closing trial balance

E4-13 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.

P4-4A Excelsior Amusement Park has a fiscal year ending on September 30. Selected data
from the September 30 worksheet are presented below.

(a) Prepare a complete worksheet.
(b) Prepare a classifi ed balance sheet. (Note: $15,000 of the mortgage note payable is due
for payment in the next fi scal year.)
(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.

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