Monopoly game doing accounting.
ExcelTemplateMonopolyOnline2.xlsx
This file is too large to display.
View in new window
JournalPages.pdf
Journal Pages
Player1Entries.pdf
Player 1
Monopoly® Events
Entries 1: (January)
1. Received $1,500 with issuance of Common Stock.
2. Purchased St. James Place for $180.
3. Purchased Indiana Avenue for $220.
4. Community Chest: Won second place in a beauty contest and received $10.
5. Went to jail! Did not pass Go or collect $200.
Entries 2: (February)
6. Paid $50 to get out of jail.
7. Bought a house for St. James Place for $100.
8. Landed on Illinois Avenue. Paid rent of $20.
9. Purchased Pacific Avenue for $300.
10. Bought a house for Indiana Avenue for $150.
Entries 3: (March)
1. Bought a house for Pacific Avenue for $200.
2. Landed on Luxury Tax and paid $100.
3. Passed Go and collected $200.
4. Purchased Baltic Avenue for $60.
5. Purchased Oriental Avenue for $100.
6. Paid rent of $12.
7. Paid Railroad Use expense of $25.
8. Received rent of $130 from Pacific Avenue.
9. Bought a house on Pacific Avenue for $200.
10. Paid $24 in rent.
Entries 4: (April)
1. Bought a house on Oriental Avenue for $50.
2. Passed Go and collected $200.
3. Paid Income Tax of $200.
4. Received rent of $390 from Pacific Avenue.
5. Bought a house on Oriental Avenue for $50.
6. Paid $180 in rent.
7. Paid Railroad Use expense of $25.
8. Received rent of $70 from St. James Avenue.
9. Paid rent of $26.
10. Took out a $1,000 loan on May 1.
Entries 5: (May)
1. Paid rent of $150.
2. Passed Go and collected $200.
3. Received rent of $90 from Indiana Avenue.
4. Paid rent of $150.
5. Bought a house on Baltic Avenue for $50.
6. Paid Railroad Use expense of $25.
7. Went to jail! Did not pass Go or collect $200.
8. Paid $50 to get out of jail.
9. Received $90 in rent from Oriental Avenue.
10. Purchased Connecticut Avenue for $120.
Entries 6: (June)
1. Paid Railroad Use expense of $50.
2. Received $70 for rent from St. James Place.
3. Bought a house for Connecticut for $50.
4. Community Chest: Paid the doctor??s fee of $50.
5. Bought a house on Indiana Avenue for $150.
6. Chance: Get Out of Jail Free card.
7. Paid rent of $180.
8. Paid Electric Company charge of $60.
9. Received $20 rent from Baltic Avenue.
10. Bought a house for Pacific Avenue for $200.
Entries 7: (July)
1. Purchased B&O Railroad for $200.
2. Passed Go and collected $200.
3. Paid Income Tax of $200.
4. Took out a $1,000 loan on July 1.
5. Chance: Advance to Boardwalk Avenue. Paid $600 rent.
6. Passed Go and collected $200.
7. Bought a house for Pacific Avenue for $200.
8. Received $250 in rent from Indiana Avenue.
9. Received $70 in rent from St. James Place.
10. Paid $330 in rent.
Entries 8: (August)
1. Chance: Received $50 dividend from the Bank.
2. Bought a house for St. James Place for $100.
3. Purchased Ventnor Avenue for $260.
4. Took out a $1,000 loan on August 1.
5. Paid rent of $400.
6. Received $250 in rent from Indiana Avenue.
7. Bought a house for Indiana Avenue for $150.
8. Paid rent of $75.
9. Received rent of $22 from Ventnor Avenue.
10. Received rent of $90 from Oriental Avenue.
Entries 9: (September)
1. Chance: Selected Chairman of the Board and have to pay each player $50. Assume there are three other
players.
2. Took out a $1,000 loan on September 1.
3. Community Chest: Holiday Fund matures and receive $100.
4. Receive rent of $1,100 from Pacific Avenue.
5. Receive rent of $20 from Baltic Avenue.
6. Bought a house for Indiana Avenue for $150.
7. Received $25 in Investment Revenue from B&O Railroad.
8. Paid Luxury Tax of $100.
9. Passed Go and collected $200.
10. Received rent of $875 from Indiana Avenue.
Entries 10: (October)
1. Received rent of $40 from Connecticut Avenue.
2. Bought a hotel for Pacific Avenue for $200.
3. Paid $625 in rent.
4. Chance: Go to Jail! Used the Get Out of Jail Free card.
5. Bought Water Works for $150.
6. Receive rent of $875 from Indiana Avenue.
7. Receive rent of $22 from Ventnor Avenue.
8. Bought a house for Oriental Avenue for $50.
9. Paid rent of $700.
10. Receive rent of $200 from St. James Place.
Entries 11: (November)
1. Chance: Paid speeding fine of $15.
2. Received rent of $1,275 from Pacific Avenue.
3. Community Chest: Received $50 from sale of stock.
4. Bought a house for St. James Place for $100.
5. Paid rent of $1,100.
6. Received rent of $20 from Baltic Avenue.
7. Received rent of $270 from Oriental Avenue.
8. Chance: Make repairs on property of $25 for each house and $100 for each hotel.
9. Receive rent of $550 from St. James Place.
10. Bought a hotel for $150 for Indiana Avenue.
Entries 12: (December)
1. Paid rent of $1,500.
2. Passed Go and collected $200.
3. Receive rent of $40 from Connecticut Avenue.
4. Receive rent of $1,275 from Pacific Avenue.
5. Bought a house for Oriental Avenue for $50.
6. Paid rent of $1,150.
7. Received rent of $1,050 from Indiana Avenue.
8. Received rent of $22 from Ventnor Avenue.
9. Passed Go and collected $200.
10. Chance: Advance to Boardwalk. Paid $2,000 in rent.
MonopolyRulesandInstructions–Online.pdf
1
Monopoly® Rules and
Instructions??Online
Directions for Play
1. Download the Excel Template and
rename it
YourlastnameFirstinitialPlayer#. You will
be recording all journal entries, in T-
account format. As you record the
entries, the spreadsheet will
automatically fill-in the Trial Balance and
the Financial Statements. (In other
words, all the Excel formulas, etc., are
already done. If you delete something
or get the spreadsheet completely
wrong, you can always download the
template again and start over, or find
the correct formulas and insert them
into your spreadsheet.)
2. Review the events that your Player
incurs. While not required or graded,
you may want to record the journal
entries for each event on the Journal
Pages by hand before recording them
on the Excel T-accounts.
3. The Excel Template has two tabs.
Record Entries through June on the Mid
Year tab first! You will be submitting
your spreadsheet at this point for a
grade. If you have any questions along
the way, PLEASE reach out to the GTA
for assistance.
4. Once you get feedback on Mid Year, you
will need to transfer all balances from
the Mid Year Trial Balance to the T-
accounts (as the beginning balances) on
all accounts on the Full Year tab. Be
sure the Trial Balance on the Full Year
matches the Mid Year BEFORE entering
entries for July through December.
5. Enter transactions for July through
December. This will be graded and
feedback will be given.
6. The final step is to record the adjusting
entries for depreciation and interest.
This final spreadsheet will be submitted
for a grade.
Guidelines for Recording Specific
Events
1. Original receipt $1,500 from the bank to
create your company. (This will be a debit
to Cash and a credit to Common Stock.)
2. When you ??land? on a property, you will
purchase it.
a. Record name of property and cost in
Property List below. This will be
helpful when calculating depreciation
or other events.
b. Property is recorded in journal as
Land.
3. You must pay rent expense when you
??land? on a property that is owned by
another player.
4. In Jail? You must pay $50 and get out of
jail. You will record this as Fines and
Penalties Expense.
5. You may buy a house for a property
without owning a monopoly.
a. Record the houses and cost on the
property list.
6. Purchasing a railroad or utility?
a. Record it as Investment??Railroad or
Investment??Utility
b. When another player lands on the
space, you will record the revenue as
Investment Revenue, and they will
record it as Utilities Expense or
Railroad Use Expense.
2
7. When you land on or pass GO, you will
receive $200 as an additional capital
investment. Record as Cash and Common
Stock.
8. When you land on Income Tax or Luxury
Tax, you will record as Tax Expense. Use
the standard $200 dollars for Income Tax.
9. Land on Community Chest or Chance,
follow the instructions on the card and refer
to the table below for any clarifications
regarding journal entries.
10. If you run out of money, take out a loan in
increments of $1,000. Interest will be
charged on all notes payable as an
adjusting entry at year-end.
a. Record the loans on the
Loan/Interest Schedule below.
b. Interest of 24% (2% per month) will
be charged on the outstanding notes
payable.
c. Do not repay the loans.
11. Depreciate full year on all properties held at
end of year, regardless of month
purchased.
a. Depreciable life for houses is 10
years and 15 years for hotels.
b. If you own only hotels add the cost
of all four houses plus the cost of the
hotel to come up with the
depreciable cost. If you have houses
use the cost of the houses as the
depreciable cost.
c. Round depreciation amounts to the
nearest whole dollar.
d. Do not depreciate Railroads and
Utilities as they are investments and
are not used up over time.
Community Chest and Chance Cards
Hospital Fees $100 Miscellaneous
Expense
Consulting Fee $25 Miscellaneous
Revenue
Birthday $10 Miscellaneous
Revenue
Inherit $100 Miscellaneous
Revenue
Sale of Stock $50 Miscellaneous
Revenue
Beauty Contest $10 Miscellaneous
Revenue
Street Repairs
Assessment
Varies Fines and
Penalties
Expense
Bank Error $200 Miscellaneous
Revenue
Get out of Jail
Free
$50 Prepaid Fines
Doctor??s fee $50 Miscellaneous
Expense
Holiday Fund $100 Miscellaneous
Revenue
Life Insurance $100 Miscellaneous
Revenue
School Fees $50 Fines and
Penalties
Expense
Tax Refund $20 Decrease (CR)
Tax Expense
Speeding Fine $15 Fines and
Penalties
Expense
Building Loan
Matures
$150 Miscellaneous
Revenue
Bank Dividend $50 Dividend
Revenue
Repairs on
Property
Varies Miscellaneous
Expense
Chairman of
Board
$50 Salary Expense
3
Chart of Accounts
Assets:
Cash
Prepaid Fines
Land
Investments??Railroads
Investments??Utilities
Buildings??Houses
Accumulated Depreciation??Houses
Buildings??Hotels
Accumulated Depreciation??Hotels
Liabilities:
Notes Payable
Interest Payable
Equity:
Common Stock
Retained Earnings
Revenues:
Rent Revenue
Salary Revenue
Investment Revenue??Railroads
Investment Revenue??Utilities
Miscellaneous Revenue
Dividend Revenue
Expenses:
Rent Expense
Tax Expense
Fines and Penalties Expense
Repairs and Maintenance Expense
Interest Expense
Depreciation Expense??Houses
Depreciation Expense??Hotels
Miscellaneous Expense
Utilities Expense
Railroad Use Expense
Sample Transactions (The amounts are examples.)
Receiving $1500 at the Beginning of the Game
Cash 1500
Common Stock 1500
Buying Property
Land 400
Cash 400
Buying a House
Building ?? House 200
Cash 200
Someone Lands on Your Property
Cash 120
Rent Revenue 120
You Land on Someone??s Property
Rent Expense 120
Cash 120
You Land on Income/Luxury Tax
Tax Expense 200
Cash 200
Receive a Get Out of Jail Free Card
Prepaid Fines 50
Common Stock 50
Using Your Get Out of Jail Free Card
Fines & Penalties Expense 50
Prepaid Fines 50
Making an Interest Payment on Debt of $1000
Interest Expense 20
Cash 20
4
Property List
Record cost of each house:
Name of Property 1st House 2nd House 3rd House 4th House Hotel
Notes Payable
Month
Amount:
Principal
Rate Per
Month: 2%
Number of Months
Outstanding: Time
Interest=
Principal * Rate * Time
ExcelTemplateMonopolyOnline2.xlsx
This file is too large to display.
View in new window
We offer the bestcustom writing paper services. We have done this question before, we can also do it for you.
Why Choose Us
- 100% non-plagiarized Papers
- 24/7 /365 Service Available
- Affordable Prices
- Any Paper, Urgency, and Subject
- Will complete your papers in 6 hours
- On-time Delivery
- Money-back and Privacy guarantees
- Unlimited Amendments upon request
- Satisfaction guarantee
How it Works
- Click on the “Place Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
- Fill in your paper’s requirements in the "PAPER DETAILS" section.
- Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
- Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
- From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.
