The owner of Brant Toilet Repair and More, C. Yathair, renovates/repairs bathrooms and other living spaces. He has just started his business and has these accounts in the ledger as of August 31, 2016:

Bank ($45,000)

A/R - O. Osbourne ($350)

A/R - B. Spears ($0)

Supplies ($550)

Tools ($3,500)

Truck ($8,000)

A/P - Home Depot ($100)

A/P - The Expositor ($0)

Bank Loan ($2,000)

C. Yathair, Capital (?)

a) You have not been given a value for C. Yathair, Capital. Calculate the value of the business at this point. Show your work below.

b) Record the following transactions in the ledger.

Sept.

1 Paid the monthly rent of $1,000 to JT Inc.