Transactions:

September 1 - Dan Porter invested $12,000 in the auto repair shop along with $10,000 of tools and equipment. September 1 - Rented and paid 5 months rent in advance to Acres of Velvet Property Management, $10,000 September 1 - Bought a truck on account from Mcfly's Toyota Fort Worth, $17,000 September 4 - Purchased equipment from Don's Tool Shed, for cash, $550 September 5 - Purchased additional equipment from Don's Tool Shed, on account, $300 September 6 - Replaced engine and transmission for Kate Tyson, $9,000 September 8 - Paid gas bill to Victor's Gas Co, $55 September 15 - Paid Joey Johnston, auto shop employee, $1,000 September 17 - Completed repairs on Laura Lostseer's 2020 Ferrari Portofino, $11,000 payment to be received October 8 September 20 - Dan Potter withdrew $5,000 to pay personal expenses September 21 - Repaired Matthew Criss's VW Bus, $6,000 September 22 - Paid Victor's Gas Co for gas bill, $85 September 24 - Paid Mcfly's Toyota Fort Worth for shop supplies, $900 September 30 - Paid Joey Johnston, auto shop employee, $1,000 September 30 - Paid Horizontal Mobile Inc September phone bill, $550 September 30 - Received advertising bill for September, $800, from Nuts and Boldt's Magazine. Bill is to be paid Oct 2

Prepare a trial balance in a worksheet and complete the worksheet using the following adjustment data: 1. One month's rent had expired 2. An inventory shows $250 of shop supplies remaining 3. Depreciation on equipment, $260 4. Depreciation on vehicles, $510.

On September 1, 2017, Dan Potter opened an auto repair shop. Here is his chart of accounts: Assets 101 102 Liabilities 201 Accounts Payable Equity 301 302 Dan Potter, Capital Dan Potter, withdrawals 103 104 105 401 501 502 Repair Fees Training Expense Rent Expense Cash Accounts Receivable Shop Supplies Prepaid Rent Tools & Equipment Accumulated Dep. Tools Vehicles Accumulated Dep Vehicles 106 503 Gas Expense 504 107 108 Wage Expense Depreciation Expense 505 506 507 508 509 Wage Expense Telephone Expense Advertising Expense Misc. Expense