This exercise continues the accounting process for Lydon’s Yard Care, Inc., from the continuing exercise in Chapter 2. Refer to the T-accounts and the trial balance that you prepared for Lydon’s Yard Care, Inc., at April 30, 2012.

Requirements

1. Open these additional T-accounts: Accumulated Depreciation, Equipment, Depreciation Expense, Equipment, Supplies Expense.

2. A physical count shows $30 of lawn supplies on hand at April 30, 2012. Depreciation on equipment for the month totals $25. Journalize any required adjusting journal entries and post to the T-accounts, identifying all items by date.

3. Prepare the adjusted trial balance at April 30, 2012.

4. Journalize and post the closing entries at April 30. Denote each closing amount as Clo and an account balance as Bal.

5. Prepare a post-closing trial balance at April 30, 2012.