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Today we will play monopoly
Today we will play monopoly
OBJECTIVE:
Improve player’s ability to record business transactions in general journal form, post transactions to the general ledger, prepare a trial balance and prepare formal financial statements.
REQUIREMENTS:
All transactions must be recorded in your General Journal as you play the game.
Prepare General Ledger Accounts.
Obtain balances in each account and prepare a trial balance.
From the trial balance prepare a Balance Sheet, Income Statement and Statement of Retained Earnings in good form.
Submit your working papers in the following order: a. Cover sheet indicating your name (provided) b. Instruction sheet provided c. Chart of accounts provided d. Journal entries e. T accounts f. Trial Balance g. Balance Sheet h. Income Statement i. Statement of Retained Earnings
Monopoly Project Accounting 301 2009.pdfInstructions
Instructions
Select groups of two-four to play the game of monopoly.
Select one player to act as the banker.
Follow the rules included in the game box.
As you move around the board, record in general journal form the results of your move. Use the journal paper provided. You may date or number each journal entry. A minimum of twenty-five journal entries should be recorded. Be sure to reference the chart of accounts provided when recording entries and include an explanation of each entry. Make sure you record the journal entries in their proper format. (Dr account first, Cr account title indented, and brief explanation of each entry.) Consider skipping a line after each entry.
If you have any questions ASK!
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