This exercise continues the Lawlor Lawn Service, Inc., situation from Exercise 3-48 of Chapter 3. Start from the posted T-accounts and the adjusted trial balance for Lawlor Lawn Service prepared for the company at May 31, 2012:
Requirements
1. Complete the accounting worksheet at May 31, 2012.
2. Journalize and post the closing entries at May 31, 2012. Denote each closing amount as Clo and an account balance as Bal.