Reference no: EM131809815

Problem

Prepare an unadjusted trial balance as of August 31, 2016

On August 1, 2016, John established John's Auto Service, Inc. During the month of August, the following transactions occurred:

a. John used $30,000 from his personal funds to purchase common stock from the business

b. John rented a garage for $1,200 per month, paying the first and last month's rent plus a security deposit of $1,000

c. John arranged for business insurance costing $1,500 every six months effective July 2, 2016

d. John billed Louie Stark on account for truck repairs totaling $1,100

e. Tommy Jones paid John for repairs on his car totaling $825

f. John paid half of his bill for the business insurance

g. John purchased parts for the Stark and Jones vehicles on account for $685.