This exercise continues the Sherman Lawn Service situation from Exercise 2-63 of Chapter...

This exercise continues the Sherman Lawn Service situation from Exercise 2-63 of Chapter 2. Start from the trial balance and the posted T-accounts that Sherman Lawn Service prepared at August 31, 2009.

Requirements

1. Open these additional T-accounts: Accumulated depreciation—equipment; Depreciation expense-equipment; Supplies expense.

2. Hannah determines there are $20 in Lawn Supplies left at August 31, 2009. 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 Exhibit 3-9.