This exercise continues with the business of Graham’s Yard Care, Inc. begun in the Continuing Exercise in Chapter 1. Here you will account for Graham’s Yard Care, Inc.’s transactions in the general journal. Graham's Yard Care, Inc. completed the following transactions during June:

Jun 1 Received $1,000 and issued 100 common shares. Deposited this amount in bank account titled Graham’s Yard Care, Inc.

3 Purchased on account a mower, $1,000, and weed whacker, $400. The equipment is expected to remain in service for four years.

5 Purchased $20 of gas. Wrote cheque #1 from the new bank account.

6 Performed lawn services for client on account, $200.

8 Purchased $50 of fertilizer from the lawn store. Wrote cheque #2 from the new bank account.

17 Completed landscaping job for client, received cash $500.

30 Received $50 on account from June 6 sale.

Requirements

1. Open T-accounts in the ledger: Cash, Accounts Receivable, Lawn Supplies, Equipment, Accounts Payable, Common Shares, Retained Earnings, Service Revenue, and Fuel Expense.

2. Journalize the transactions. Explanations are not required.

3. Post to the T-accounts. Key all items by date and denote an account balance as “Bal.” Formal posting references are not required.

4. Prepare a trial balance at June 30, 2013.