PRMG 030
Eng. Ali Kortam PfMP, MSc., CPM, PMP, CCP, PSP, PMBA, ACIArb.
Course Content:
 Accounting Basic Equation followed by : Assignment 1
 Trial Balance
followed by : Assignment 2
 Adjusted Trial Balance
 Balance Sheet
 Income Statement
 Owner’s Equity
followed by : Assignment 3
 Financial Ratios followed by : Project
 Budgeting & Cost control
 Cash Flow
 Advanced Project Management Topics
Section 1
Accounting Equation
The BASIC
The basic Accounting Equation
Assets
= Owner’s Equity
+ Liabilities
The Accounting Equation
Assets
= Owner’s Equity
+ Liabilities

Current
Assets

Current
Liabilities

Long Term
Assets

Long Term
Liabilities
The Accounting Equation
Assets
=
Current Assets
 Cash
 Accounts Receivable
 Short Term Investments
 Inventory
 Supplies
+
Long Term Assets
 Land
 Building
 Equipment
Less: depreciation
 Investments
 Prepaid Insurance
 Intangible Assets
- Trade Name
The Accounting Equation
= Owner’s Equity
+
 Common Stock (Capital)
 Retained Earnings
 Revenues (Fees)
 Expenses
 Dividend (Withdraw)
The Accounting Equation
=
Current Liabilities
 Notes Payable
 Accounts Payable
 Salaries Payable
 Interest Payable
 Unearned Revenues (Fees)
Liabilities
+
Long Term Liabilities
 Long Term Loans
 Bonds Payable
 Pension Payable
 Income Taxes Payable
 Warranty Liability
The portion of long-term liabilities that must be paid in the coming 12-month period are classified
as Current Liability.
For example, a loan for which two payments of $1000 are due, one in the next twelve months and
the other after that date, would be 'split' into two: the first $1000 would be classified as a current
liability, and the second $1000 as a long-term liability
Working Example on the Accounting Equation
Invested $ 50,000 in the Business
Invested $ 50,000 in the Business
Assets
Cash
50,000
50,000
=
=
50,000
50,000
OE
=
Common Stock
50,000
50,000
50,000
50,000
+
Liability
+
+
-
-
Working Example on the Accounting Equation
Purchased Assets by Cash
(Land 10 k$ & Build 25k$)
Accounting Transactions:
 Invested $ 50,000 in the Business
 Purchased Assets by Cash (Land 10 k$ & Build 25k$)
Assets
Transactions
=
+
Liability
-
50,000
+
+
+
+
-
Common
Stock
= 50,000
= 50,000
Cash
Invested $ 50,000 in the Business 50,000
50,000
50,000
50,000
Accounts Balance=
OE
50,000
Common
Stock
50,000
Cash Land Build.
50,000
Purchased Assets by Cash (Land
10 k$ & Build 25k$)
(35,000) 10,000 25,000
15,000 10,000 25,000
Accounts Balance=
50,000
50,000
-
=
50,000
50,000
50,000
-
Working Example on the Accounting Equation
Purchase Supplies on Account for
500$
 Purchase Supplies on Account for 500$ on 3 months installments
for 12 % Annual Bank Interest
Assets
Cash
Land
Build.
15,000
10,000
25,000
15,000
10,000
25,000
50,500
50,500
OE
=
Supplies
+
Liability
Account
Payable
Common Stock
50,000
500
500
=
50,000
+
+
50,000
50,500
500
500
500
Transactions
Invested $ 50,000 in the Business
=
Assets
Cash
50,000
50,000
Accounts Balance=
Common Stock
=
50,000
=
50,000
50,000
50,000
Build.
50,000
Land
=
50,000
50,000
+
+
-
50,000
-
Account
Payable
Common Stock
15,000 10,000 25,000
15,000 10,000 25,000
Accounts Balance=
50,500
50,500
-
Common Stock
50,000
Build. Supplies
Purchase Supplies on Account for 500$
+
+
50,000
Cash Land
50,000
Purchased Assets by Cash (L. 10 k$ & B.
(35,000) 10,000 25,000
15,000 10,000 25,000
Accounts Balance=
50,000
50,000
Cash
+ Liability
OE
50,000
500
500
=
50,000
+
+
50,000
50,500
500
500
500
Working Example on the Accounting Equation
Payment of Supplies Liabilities
200$
 Payment of Supplies Liabilities 200$
Assets
Cash
Land
15,000 10,000
(200)
14,800 10,000
Build. Supplies
25,000
25,000
50,300
50,300
OE
=
=
Liability
50,000
Account
Payable
500
50,000
(200)
300
Common Stock
500
500
+
+
+
50,000
50,300
300
Transactions
Invested $ 50,000 in the Business
Cash
50,000
50,000
=
=
Accounts Balance=
Purchased Assets by Cash (L. 10 k$ & B.
=
Assets
Cash
Land
50,000
(35,000) 10,000
15,000 10,000
50,000
50,000
Build.
50,000
Accounts Balance=
10,000
25,000
50,300
50,300
+
Liability
+
+
-
+
+
-
-
50,000
Common Stock
50,000
25,000
25,000
Accounts Balance=
50,000
50,000
Cash
Land Build. Supplies
15,000 10,000 25,000
Purchase Supplies on Account for 500$
500
15,000 10,000 25,000
500
Accounts Balance=
50,500
50,500
Cash
Land Build. Supplies
15,000 10,000 25,000
500
Payment of Supplies Liabilities 200$
(200)
14,800
Common Stock
50,000
50,000
OE
500
=
50,000
50,000
-
50,000
Common Stock
50,000
=
AP
50,000
+
+
50,000
500
500
500
50,500
Common Stock
50,000
AP
500
(200)
=
50,000
+
50,000
+
50,300
300
300
Working Example on the Accounting Equation
Received Cash from Revenues
Services provided to Client
3000$
 Received Cash from Revenues Services provided
to Client 3000$
Assets
OE
=
Cash
Land
Build.
Supplies
Common Stock
14,800
3,000
17,800
10,000
25,000
500
50,000
10,000
25,000
53,300
53,300
500
=
50,000
+
Liability
Account
Payable
300
Revenue
3,000
3,000
+
+
53,000
53,300
300
300
Transactions
Invested $ 50,000 in the Business
Cash
50,000
50,000
=
=
Accounts Balance=
Purchased Assets by Cash (L. 10 k$ & B.
Cash
Land
50,000
(35,000) 10,000
15,000 10,000
Accounts Balance=
Cash
15,000
Land
10,000
Purchase Supplies on Account for 500$
15,000
10,000
Accounts Balance=
Cash
15,000
Payment of Supplies Liabilities 200$
Land
10,000
50,000
+
Liability
+
+
-
+
+
-
50,000
Common Stock
50,000
25,000
25,000
50,000
50,000
Build. Supplies
25,000
500
25,000
500
50,500
50,500
Build. Supplies
25,000
500
=
50,000
50,000
-
50,000
Common Stock
50,000
=
AP
50,000
+
+
50,000
500
500
500
50,500
AP
Common Stock
50,000
10,000
25,000
500
=
500
50,000
Land
10,000
10,000
50,300
Build. Supplies
25,000
500
25,000
53,300
53,300
+
50,000
50,300
Cash
14,800
3,000
17,800
-
(200)
Accounts Balance=
Accounts Balance=
50,000
50,000
Build.
Common Stock
50,000
50,000
OE
(200)
14,800
Received Cash from Revenues 3000$
=
Assets
500
300
300
+
50,300
=
Common Stock Revenue
50,000
3,000
50,000 3,000
AP
300
+
+
53,000
53,300
300
300
Working Example on the Accounting Equation
NO Cash Received from
Revenues Services provided to
Client for 35,000$
 NO Cash Received from Revenues Services provided to
Client for 35,000$
Cash
Land
Build.
Supplies
17,800
10,000
25,000
500
17,800
10,000
25,000
88,300
88,300
500
Account
Receivable
Common Stock
Account
Payable
300
Revenue
50,000
35,000
35,000 =
3,000
35,000
50,000 38,000
+
+
88,000
88,300
300
300
Transactions
Invested $ 50,000 in the Business
Cash
50,000
50,000
=
=
Accounts Balance=
Purchased Assets by Cash (L. 10 k$ & B.
Cash
50,000
(35,000)
15,000
Land
10,000
10,000
Accounts Balance=
Cash
15,000
Land
10,000
Purchase Supplies on Account for 500$
15,000
10,000
Accounts Balance=
Cash
15,000
Payment of Supplies Liabilities 200$
Land
10,000
50,000
+
Liability
+
+
-
+
+
-
50,000
Common Stock
50,000
25,000
25,000
50,000
50,000
Build.
Supplies
25,000
500
25,000
500
50,500
50,500
Build.
Supplies
25,000
500
=
50,000
50,000
-
50,000
Common Stock
50,000
=
AP
50,000
+
+
50,000
500
500
500
50,500
Common Stock
50,000
10,000
25,000
500
=
AP
500
50,000
50,300
Cash
14,800
3,000
17,800
-
(200)
Accounts Balance=
Land
10,000
10,000
Accounts Balance=
Cash
17,800
Land
10,000
17,800
10,000
NO Cash Received for Revenues 35000$
Accounts Balance=
50,000
50,000
Build.
Common Stock
50,000
50,000
OE
(200)
14,800
Received Cash from Revenues 3000$
=
Assets
50,300
Build.
Supplies
25,000
500
25,000
500
=
53,300
53,300
Account
Build.
Supplies
Receivable
25,000
500
35,000
25,000
500
35,000 =
88,300
88,300
+
50,000
300
300
+
50,300
Common Stock Revenue
50,000
3,000
50,000
3,000
AP
300
+
+
53,000
300
300
53,300
Common Stock Revenue
50,000
3,000
35,000
50,000 38,000
AP
300
+
+
88,000
88,300
300
300
Working Example on the Accounting Equation
Collection of Account Receivable
for 15,000$
 Collection of Account Receivable 15000$
Cash
Land
Build.
17,800
15,000
32,800
10,000
25,000
10,000
25,000
88,300
88,300
Account
Receivable
500
35,000
(15,000)
500
20,000 =
Supplies
Common Stock
Account
Payable
300
Revenue
50,000 38,000
50,000 38,000
+
+
88,000
88,300
300
300
Cash Land Build. Supplies
17,800 10,000 25,000 500
NO Cash Received for Revenues 35000$
Accounts Balance= 17,800 10,000 25,000
500
AR
Common Stock Revenue
50,000 3,000
35,000
35,000
35,000 =
50,000 38,000
88,300
88,300
Cash
Land
AP
300
+
+
88,000
300
88,300
Account
Common Stock Revenue
Receivable
500 35,000
50,000 38,000
(15,000)
500 20,000 =
50,000 38,000
Account
Payable
300
Build. Supplies
17,800 10,000 25,000
Collection of Account Receivable for 15000$ 15,000
Accounts Balance= 32,800 10,000 25,000
88,300
88,300
300
+
+
88,000
88,300
300
300
Working Example on the Accounting Equation
Expenses : Rent 900$ on account
 Expenses : Rent 900$ on account
Cash
Land
Build.
32,800
10,000
25,000
32,800
10,000
25,000
88,300
88,300
Account
Receivable
500 20,000
Supplies
500
20,000 =
Account
Payable
300
900
+ 1,200
1,200
+
Common Stock Revenue Expenses
50,000 38,000
50,000 38,000
(900)
(900)
87,100
88,300
Cash
Land
17,800 10,000 25,000
Collection of Account Receivable for 15000$ 15,000
Accounts Balance= 32,800 10,000 25,000
88,300
88,300
Cash
Land
Account
Common Stock Revenue
Receivable
500 35,000
50,000 38,000
(15,000)
500 20,000 =
50,000 38,000
300
300
88,300
Account
Receivable
500 20,000
500
20,000 =
Account
Payable
300
900
+ 1,200
1,200
+
Common Stock Revenue Expenses
50,000 38,000
Expenses : Rent 900$
25,000
88,300
88,300
+
+
88,000
Build. Supplies
32,800 10,000 25,000
Accounts Balance= 32,800 10,000
Account
Payable
300
Build. Supplies
50,000 38,000
(900)
(900)
87,100
88,300
Working Example on the Accounting Equation
Salary Expenses 30,00$ paid in Cash on
25th. of month. Remaining Salary from
25th. To 30th. of month 5,000$
Expenses : Salaries 30,000$ paid in cash
Cash
Land
Build.
32,800 10,000
(30,000)
2,800 10,000
25,000
25,000
58,300
58,300
Account
Receivable
500 20,000
Supplies
500
20,000 =
Account
Payable
1200
Common Stock Revenue Expenses
50,000 38,000
(900)
(30,000)
50,000 38,000 (30,900)
+
+
57,100
58,300
1,200
1,200
Accounting Transactions:
 Invested $ 50,000 in the Business
 Purchased Assets by Cash (Land 10 k$ & Build 25k$)
 Purchase Supplies on Account for 500$
 Payment of Supplies Liabilities 200$
 Received Cash from Revenues 3000$
 NO Cash Received from Revenues Services provided to Client for 35000$
 Collection of Account Receivable 15000$
 Rent 900$ on account
 Salaries 30,000$ paid in cash
Cash
Land
Build.
32,800
10,000
25,000
32,800
10,000
Account
Receivable
500
20,000
Supplies
25,000
88,300
88,300
500
Supplies
Cash
Land
Build.
32,800
(30,000)
2,800
10,000
25,000
10,000
25,000
58,300
58,300
20,000 =
Common Stock
Account
Payable
300
900
+
1,200
+
Revenue Expenses
50,000 38,000
50,000 38,000
(900)
(900)
87,100
1,200
88,300
Account
Receivable
500
20,000
500
20,000 =
Common Stock
Account
Payable
1200
Revenue Expenses
50,000 38,000
(900)
(30,000)
50,000 38,000 (30,900)
+
+
57,100
58,300
1,200
1,200
Purchase 1 Year Prepaid Insurance 600 $ in Cash.
Cash
Land
32,800 10,000
(30,000)
2,800 10,000
Expense : Salary 30,000$
Accounts Balance=
Cash
Prepaid Insurance 600$in Cash / 1 Year
Accounts Balance=
Land
2,800 10,000
(600)
2,200 10,000
Account
Receivable
500 20,000
25,000
25,000
58,300
58,300
500
20,000
Account
Payable
1200
Common Stock Revenue Expenses
Build. Supplies
50,000 38,000
=
(900)
(30,000)
50,000 38,000 (30,900)
+
+
57,100
25,000
58,300
58,300
1,200
58,300
Account Prepaid
Common Stock Revenue Expenses Dividend
Receivable Insuran
500 20,000
50,000 38,000 (30,900)
600
500 20,000 600 =
50,000 38,000 (30,900)
57,100
Account
Payable
1200
Build. Supplies
25,000
1,200
+
+
58,300
1,200
1,200
Purchase Equipment (Computer) on Account 5,000 $, depreciated over
50 months
Prepaid
Account
Cash Land Build. Supplies
Insuran
Receivable
ce
Prepaid Insurance 600$in Cash / 1 Year
2,800 10,000 25,000 500 20,000
(600)
600
500 20,000 600
Accounts Balance= 2,200 10,000 25,000
58,300
58,300
Purchase Equipment on Account 5000$/50m. Cash
Land
2,200 10,000
=
Account
Payable
50,000 38,000 (30,900)
1200
50,000 38,000 (30,900)
57,100
+
+
58,300
Build. Supplies
AR
PI Equip.
25,000
20,000
600
500
Common Stock Revenue Expenses Dividend
Common Stock
Revenues Expenses Dividend
50,000 38,000 (30,900)
-
+
5,000
Accounts Balance=
2,200 10,000
25,000
500
20,000
600 5,000 =
1,200
1,200
Account Unearned
Payable Fees
1,200
5,000
50,000 38,000 (30,900)
-
63,300
57,100
63,300
63,300
-
+ 6,200 6,200
+
Advance Payment Received after signing service contract for 1,200 $
Cash
Land
2,200 10,000
Build. Supplies
AR
PI Equip.
25,000
20,000
600
500
Purchase Equipment on Account 5000$/50m.
Accounts Balance=
2,200 10,000
Closed Transactions
25,000
500
50,000 38,000 (30,900)
-
+
20,000
600 5,000 =
50,000 38,000 (30,900)
57,100
63,300
63,300
25,000
500
AR
PI Equip.
20,000
600 5,000
Common Stock
+
+
-
1,200
50,000 38,000 (30,900)
-
6,200
-
6,200
Account Unearned
Payable Fees
Revenues Expenses Dividend
+
-
6,200
1200
1,200
3,400 10,000
Account Unearned
Payable Fees
5,000
63,300
Offcie
Building Supplies
Equipment
2,200 10,000
Accounts Balance=
Revenues Expenses Dividend
5,000
Cash
Advance Payment Received 1200$
Common Stock
25,000
500
20,000
600 5,000 =
50,000 38,000 (30,900)
-
64,500
57,100
64,500
64,500
-
-
+
+
6,200 1,200
7,400
Withdraw or Dividend 2,000 $
Cash
Offcie
Building Supplies
Equipment
3,400 10,000
Withdraw or Dividend 200$
Accounts Balance=
25,000
500
AR
PI Equip.
20,000
600 5,000
Common Stock
50,000 38,000 (30,900)
(2,000)
-
-
+
6,200
+
+
6,200 1,200
7,400
1200
(2,000)
1,400 10,000
Closed Transactions
Cash
Account Unearned
Payable Fees
Revenues Expenses Dividend
25,000
500
20,000
600 5,000 =
50,000 38,000 (30,900)
(2,000)
62,500
55,100
62,500
62,500
Offcie
Building Supplies
Equipment
AR
PI Equip.
Common Stock
-
-
Account Unearned
Payable Fees
Revenues Expenses Dividend
1,400 10,000
25,000
500
20,000
600 5,000
50,000 38,000 (30,900) (2,000)
-
1,400 10,000
25,000
500
20,000
600 5,000 =
50,000 38,000 (30,900)
-
+
6,200
+
+
6,200 1,200
7,400
1200
End of Month Transactions
Accounts Balance=
Closed Transactions
(2,000)
62,500
55,100
62,500
62,500
-
Start Business:
Assets
OE
=
Cash
50,000
50,000
Common Stock
50,000
50,000
=
=
50,000
50,000
50,000
+
Liability
+
+
-
-
50,000
Current Business:
Cash
Offcie
Building Supplies
Equipment
AR
PI
Equip.
Common Stock
Account Unearned
Payable Fees
Revenues Expenses Dividend
1,400
10,000
25,000
500
20,000
600 5,000
50,000
38,000 (30,900)
(2,000)
-
1,400
10,000
25,000
500
20,000
600 5,000 =
50,000
38,000 (30,900)
(2,000)
-
62,500
55,100
62,500
62,500
-
+
6,200
1200
+
+
6,200
1,200
7,400
Current Business:
Cash
Offcie
Building Supplies
Equipment
AR
PI
Equip.
Common Stock
Account Unearned
Payable Fees
Revenues Expenses Dividend
1,400
10,000
25,000
500
20,000
600 5,000
50,000
38,000 (30,900)
(2,000)
-
1,400
10,000
25,000
500
20,000
600 5,000 =
50,000
38,000 (30,900)
(2,000)
-
62,500
55,100
62,500
62,500
What is your opinion about this Company?
Think !
-
+
6,200
1200
+
+
6,200
1,200
7,400
Transactions
Invested $ 50,000 in the Business
=
=
Accounts Balance=
Purchased Assets by Cash (L. 10 k$ & B.
Cash
50,000
(35,000)
15,000
Land
10,000
10,000
Accounts Balance=
Cash
15,000
Land
10,000
15,000
10,000
50,000
50,000
Build.
25,000
25,000
50,000
50,000
Build.
25,000
Purchase Supplie s on Account for 500$
Accounts Balance=
Cash
15,000
Payme nt of Supplie s Liabilitie s 200$
Land
10,000
25,000
50,500
50,500
Build.
25,000
14,800
50,000
Accounts Balance=
Expense : Salary 30,000$
10,000
=
50,000
50,000
Cash
14,800
3,000
17,800
Land
10,000
Cash
17,800
Land
10,000
17,800
10,000
Supplies
=
50,000
Common Stock
50,000
25,000
500
=
10,000
50,300
Build.
25,000
25,000
53,300
53,300
Build.
25,000
Supplies
500
500
50,000
25,000
88,300
88,300
Build.
Common Stock
50,000
500
+
500
=
50,000
Revenue
300
500
AR
Common Stock
50,000
35,000
35,000
=
Supplies
Account
Receivable
35,000
(15,000)
20,000
50,000
Revenue
3,000
35,000
38,000
32,800
10,000
25,000
500
Account
Receivable
20,000
32,800
10,000
25,000
88,300
88,300
500
20,000
Supplies
32,800
(30,000)
2,800
10,000
25,000
500
Account
Receivable
20,000
10,000
25,000
58,300
58,300
500
20,000
Supplies
Common Stock
=
Revenue
50,000
38,000
50,000
38,000
Common Stock
Revenue
=
50,000
38,000
50,000
38,000
Expenses
(900)
(900)
2,200
Common Stock
=
Revenue
Expenses
50,000
38,000
50,000
38,000
(900)
(30,000)
(30,900)
25,000
500
10,000
25,000
58,300
58,300
500
20,000
Supplies
PI
Common Stock
600
600
=
Revenue
Expenses
50,000
38,000
(30,900)
50,000
38,000
(30,900)
25,000
Supplies
500
AR
PI
20,000
600
Common Stock
Equip.
+
+
Account
Payable
300
900
1,200
1,200
57,100
+
+
Revenues
Expenses
50,000
38,000
(30,900)
50,000
38,000
(30,900)
Dividend
-
+
500
20,000
600
5,000
-
63,300
63,300
Account
Recevable
Supplies
Prepaid
Insurance
PI
Equip.
25,000
500
20,000
600
5,000
25,000
500
20,000
600
5,000
Revenues
Expenses
50,000
38,000
(30,900)
50,000
38,000
(30,900)
Common Stock
+
+
-
Account
Payable
1,200
6,200
=
64,500
-
-
-
-
Prepaid
Insurance
10,000
25,000
500
10,000
25,000
Offcie
Equipment
1,400
10,000
1,400
10,000
PI
Equip.
20,000
600
5,000
500
20,000
600
5,000
Account
Recevable
Supplies
Prepaid
Insurance
PI
Equip.
25,000
500
20,000
600
5,000
25,000
500
20,000
600
5,000
Revenues
Expenses
50,000
38,000
(30,900)
-
50,000
38,000
(30,900)
(2,000)
Revenues
Expenses
50,000
38,000
(30,900)
50,000
38,000
(30,900)
Common Stock
(2,000)
+
6,200
+
+
6,200
Unearned
Fees
-
1,200
7,400
Account
Payable
Dividend
-
Unearned
Fees
+
6,200
1200
+
+
6,200
1,200
7,400
(2,000)
=
62,500
Closed Transactions
-
-
55,100
62,500
Cash
-
64,500
Supplies
1,400
1,200
Unearned
Fees
6,200
Account
Payable
Dividend
57,100
Account
Recevable
3,400
1,200
1200
10,000
Offcie
Equipment
Cash
1,200
5,000
=
57,100
10,000
1,200
1,200
3,400
300
Account
Payable
1200
Dividend
63,300
Offcie
Equipment
Closed Transactions
Accounts Balance=
300
Account
Payable
1200
58,300
64,500
Withdraw or Dividend 200$
+
+
5,000
Cash
Accounts Balance=
+
+
58,300
10,000
10,000
300
Account
Payable
300
57,100
Account
Receivable
20,000
25,000
300
88,300
Land
Build.
300
+
+
87,100
Cash
10,000
300
88,300
Land
Land
300
AP
88,000
Cash
Build.
+
+
88,300
25,000
88,300
88,300
Land
AP
3,000
3,000
88,000
10,000
Build.
300
53,300
500
Build.
300
+
53,000
Supplies
500
25,000
2,200
500
50,300
10,000
2,200
500
500
AP
50,000
Purchase Equipment on Account 5000$/50m.
Advance Payment Received 1200$
+
+
50,500
Supplies
500
Land
2,800
(600)
2,200
AP
50,000
17,800
15,000
32,800
Cash
Accounts Balance=
-
Common Stock
50,000
500
500
Cash
Cash
Accounts Balance=
+
+
-
50,000
50,300
Accounts Balance=
Prepaid Insurance 600$in Cash / 1 Year
-
Common Stock
50,000
Expe nse s : Re nt 900$
Accounts Balance=
+
+
50,000
NO Cash Re ce ive d for Re ve nue s 35000$
Colle ction of Account Re ce ivable for 15000$
Liability
(200)
Accounts Balance=
Accounts Balance=
+
OE
Common Stock
50,000
50,000
(200)
Accounts Balance=
Re ce ive d Cash from Re ve nue s 3000$
=
Assets
Cash
50,000
50,000
62,500
Common Stock
Account
Payable
Dividend
(2,000)
-
(2,000)
-
Unearned
Fees
+
6,200
1200
+
+
6,200
1,200
7,400
End of Month Transactions
Accounts Balance=
Closed Transactions
=
62,500
55,100
62,500
62,500
-