$$ ACCOUNTING MONOPOLY $$

Chart of Accounts

Balance

Classification Account Account No. Amount

Assets Cash 110 $2000

Properties 120 $0

Houses / Hotels 130 $0

Liabilities Monopoly State Bank 210 $1500

Capital Your Name, Capital 310 $500

Your Name, Drawing 320 $0

Revenues "Go" Revenue 410 $0

Rent Revenue 420 $0

Miscellaneous Revenue 430 $0

Expenses Rent Expense 510 $0

Miscellaneous Expense 520 $0

Rules

1. There are four players to a game, with one player acting as the banker.

2. Each player starts with $2000 in his/her checking account (cash). $500 comes from an investment and $1500 is borrowed from the Bank.

3. Property may be purchased on the first trip around the board.

4. When you pay fines, taxes or to the Community Chess it is a Miscellaneous Expense.

5. When you land on another person's property, you pay rent by paying the person cash (Rent Expense).

6. You do not need three of the same property to buy houses and hotels. You may buy them at any time that you have the property. Pay cash to the bank but create the transaction for Property.

7. The banker will deposit $200 in your account when you pass GO. (“Go” Revenue)

8. All other Monopoly rules apply.

9. Each transaction MUST be recorded in your Combination Journal. Any payments you make will have a cheque document #, anytime you receive money it will have a receipt document #.

10. At the end of the game each person needs to post all journal entries to the General Ledger.

11. After reading chapter 7, you will then prepare an income statement and a balance sheet.

11. The person(s) with the greatest net income and largest capital account are the winners.

Monopoly Combination Journal Page

Date / Account Title / Doc. No. / Post.
Ref. / General / “Go” Revenue Credit / Rent Revenue Credit / Cash
Debit / Credit / Debit / Credit
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

Combination Journal Proof: Prove Cash:

Column / Debit
General………...
Sales…………...
Cash……………
Totals ………….


Monopoly Combination Journal Page

Date / Account Title / Doc. No. / Post.
Ref. / General / “Go” Revenue Credit / Rent Revenue Credit / Cash
Debit / Credit / Debit / Credit
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

Combination Journal Proof: Prove Cash:

Column / Debit
General………...
Sales…………...
Cash……………
Totals ………….


Monopoly Combination Journal Page

Date / Account Title / Doc. No. / Post.
Ref. / General / “Go” Revenue Credit / Rent Revenue Credit / Cash
Debit / Credit / Debit / Credit
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

Combination Journal Proof: Prove Cash:

Column / Debit
General………...
Sales…………...
Cash……………
Totals ………….


Monopoly Combination Journal Page

Date / Account Title / Doc. No. / Post.
Ref. / General / “Go” Revenue Credit / Rent Revenue Credit / Cash
Debit / Credit / Debit / Credit
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

Combination Journal Proof: Prove Cash:

Column / Debit
General………...
Sales…………...
Cash……………
Totals ………….

ACCOUNT

ACCOUNT NO

Date / Item / post.
ref. / Debit / CREDIT / BALANCE
DEBIT / CREDIT

ACCOUNT

ACCOUNT NO

Date / Item / post.
ref. / Debit / CREDIT / BALANCE
DEBIT / CREDIT

ACCOUNT

ACCOUNT NO

Date / Item / post.
ref. / Debit / CREDIT / BALANCE
DEBIT / CREDIT

ACCOUNT

ACCOUNT NO

Date / Item / post.
ref. / Debit / CREDIT / BALANCE
DEBIT / CREDIT
Date / Item / post.
ref. / Debit / CREDIT / BALANCE
DEBIT / CREDIT

ACCOUNT ACCOUNT NO

ACCOUNT

ACCOUNT NO

Date / Item / post.
ref. / Debit / CREDIT / BALANCE
DEBIT / CREDIT

ACCOUNT

ACCOUNT NO

Date / Item / post.
ref. / Debit / CREDIT / BALANCE
DEBIT / CREDIT

ACCOUNT

ACCOUNT NO

Date / Item / post.
ref. / Debit / CREDIT / BALANCE
DEBIT / CREDIT
Date / Item / post.
ref. / Debit / CREDIT / BALANCE
DEBIT / CREDIT

ACCOUNT ACCOUNT NO

Date / Item / post.
ref. / Debit / CREDIT / BALANCE
DEBIT / CREDIT