This exercise continues the Lawlor Lawn Service situation from the previous problem. Start from the trial balance and the posted T-accounts that Lawlor LawnService prepared at May 31, 2012.
Requirements
1. Open these additional T-accounts: Accumulated depreciation—equipment; Depreciation expense—equipment; Supplies expense.
2. Mindy Lawlor determines there are 40 in Lawn supplies left at May 31, 2012. Depreciation on the equipment was30 for the month. Journalize any required adjusting journal entries.
3. Post to the T-accounts, keying all items by date.
4. Prepare the adjusted trial balance, as illustrated in previous problem.