MONOPOLY PROJECT
PATRICIA CARLSON
ACCOUNTING 104
INSTRUCTOR: CATHERINE CONDRON
JANUARY 06, 2011
Comments on Accounting Monopoly Project
This was a very creative way to play monopoly by making a journal entry for
the different moves by each player. It was quite a task entering each move
that created a journal entry but it was still fun.
Accounting 104 Monopoly Project
Patricia Carlson
Chart of Accounts
Assets
Cash
Accounts Receivable
Steven
Melissa
Victoria
John
100
110
120
Game Piece
Accum Depr. - Game Piece
130
140
Property Purchased
St. James Place
New York Avenue
Baltic Avenue
Vermont
Pennsylvania Avenue
150
Railroads
160
120.1
120.2
120.3
120.4
150.1
150.2
150.3
150.4
150.5
Reading Railroad
Pennsylvania Railroad
160.1
160.2
Liabilities
Accounts Payable
Hollada
Hayes
Murguia
Branch
Taxes
200
210
Owners Equity
Owner, Capital
Owner, Drawing
Income Summary
300
310
320
350
Revenue
Go Revenue
Rent Revenue
Railroad Revenue
Other Revenue: e.g. Chance, C.Chest
400
410
420
430
440
Expenses
Rent Expense
Railroad Expense
Tax Expense
Other Expenses e.g. Chance, C.Chest
Depr. Expense - Game Piece
500
510
520
530
540
560
210.1
210.2
210.3
210.4
220
Patricia Carlson
Accounting 104
JOURNAL
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2
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Date
Nov
1
1
1
2
2
3
4
4
5
5
6
6
Page
Description
Post Ref
Cash
Owner, Capital
Owner's initial investment
110
310
$
Game Piece
A/P Condron
Purchased game piece on account
130
210
$
Property: St. James Place
Cash
150.1
110
$
Property: New York Avenue
Cash
150.2
110
$
Owner's Drawing
Cash: Non-business expense
Jail bond
320
110
$
Property: Baltic Avenue
Cash
150.3
110
$
Property: Vermont Avenue
Cash
150.4
110
$
A/R Victoria
Rent Revenue
Earned rent on Vermont Avenue
120.3
420
$
Cash
A/R Victoria
Received payment on account for Vermont Ave
110
120.3
$
A/R Victoria
Rent Revenue
Earned Rent on St. James Place
120.3
420
$
Cash
Go Revenue
110
410
$
Property: Reading Railroad
Cash
160.1
110
$
Page 2 of 21
1
Debit
1,500.00
Credit
$
1,500.00
$
350.00
$
180.00
$
200.00
$
50.00
$
60.00
$
100.00
$
6.00
$
6.00
$
14.00
$
200.00
$
200.00
350.00
180.00
200.00
50.00
60.00
100.00
6.00
6.00
14.00
200.00
200.00
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Patricia Carlson
Accounting 104
JOURNAL
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Page
Description
Cash
A/R Victoria
St. James Place rent
Post Ref
110
120.3
$
Rent Expense
A/P Branch
Electric Company Utilites
510
210.4
$
A/P Branch
Cash
Electric Company Utilities
210.4
110
$
A/R John
Rent Revenue
Earned rent on Baltic
120.4
420
$
Cash
A/R John
Received payment on account for Baltic
110
120.4
$
10 Cash
Other Revenue
110
440
$
11 Cash
Go Revenue
110
410
$
11 A/R Steven
Railroad Revenue
Earned rent on Reading Railroad
120.1
430
$
11 A/R John
Rent Revenue
Earned rent on Vermont
120.4
420
$
12 Cash
A/R Steven
Received payment on account for Reading RR
110
120.1
$
12 Cash
A/R John
Received payment on account for Vermont Ave
110
120.4
$
Date
Nov
6
7
8
8
9
Page 3 of 21
2
Debit
14.00
Credit
$
14.00
$
28.00
$
28.00
$
6.00
$
6.00
$
100.00
$
200.00
$
25.00
$
6.00
$
25.00
$
6.00
28.00
28.00
6.00
6.00
100.00
200.00
25.00
6.00
25.00
6.00
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Patricia Carlson
Accounting 104
JOURNAL
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2
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Page
Date
Description
Nov
13 Property: Pennsylvania Railroad
Cash
Post Ref
160.2
110
$
13 A/R Victoria
RR Revenue
Earned rent on Pennsylvania Railroad
120.3
430
$
14 Rent Expense
A/P Murguia
Indiana Avenue rent
510
210.3
$
14 Cash
A/R Victoria
110
120.3
$
15 A/P Muguia
Cash
Made payment on account for Indiana Avenue rent
210.3
110
$
16 Tax Expense
A/P Taxes: Chance Card
Paid Income Tax
530
220
$
16 A/R Victoria
Rent Revenue
Earned rent on St. James Place
120.3
420
$
17 Cash
Other Revenue
Chance Card
110
440
$
17 A/P Taxes
Cash
Made payment on Income Tax
220
110
$
17 Cash
A/R Victoria
Received payment on account for St. James Place
110
120.3
$
3
Debit
200.00
Credit
$
200.00
$
25.00
$
18.00
$
25.00
$
18.00
$
200.00
$
14.00
$
50.00
$
200.00
$
14.00
25.00
18.00
25.00
Received payment on account for Pennsylvania RR
Page 4 of 21
18.00
200.00
14.00
50.00
200.00
14.00
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Patricia Carlson
Accounting 104
JOURNAL
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2
3
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5
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9
10
11
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Page
Date
Description
Nov
18 Rent Expense
A/P Murguia
Marvin Gardens rent
Post Ref
Debit
24.00
510
210.3
$
210.3
110
$
19 RR Rent Expense
A/P Branch
Shortline Railroad
520
210.4
$
50.00
20 Cash
Go Revenue
110
410
$
200.00
20 Other Expense
Cash
School Fees
540
110
$
20 A/R Steven
Rent Revenue
Earned rent on Vermont Avenue
120.1
420
$
20 A/R Steven
RR Revenue
Earned rent on Pennsylvania Railroad
120.1
430
$
20 A/R Victoria
Rent Revenue
Earned rent on St. James Place
120.3
420
$
20 A/P Branch
Cash
Shortline Railroad
210.4
110
$
21 Rent Expense
A/P Branch
Electric Company Utility
510
210.4
$
19 A/P Murguia
Cash
4
Credit
$
24.00
$
24.00
$
50.00
$
200.00
$
50.00
$
6.00
$
50.00
$
14.00
$
50.00
$
40.00
24.00
Made payment on account for Marvin Gardens rent
Page 5 of 21
50.00
6.00
50.00
14.00
50.00
40.00
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2
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Patricia Carlson
Accounting 104
JOURNAL
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2
3
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Page
Date
Description
Nov
21 Cash
A/R Steven
Received payment on account for Vermont Ave
Post Ref
110
120.1
$
110
120.1
$
110
120.3
$
22 Accounts Receivable: Melissa
Railroad Revenue
Earned rent on Pennsylvania Railroad
120.2
430
$
22 Accounts Payable: Branch
Cash
Made payment on accont for Electric Company
210.4
110
$
23 Cash
A/R Melissa
110
120.2
$
23 A/R Melissa
Rent Revenue
Earned rent on Vermont Avenue
120.2
420
$
23 Rent Expense
A/P Branch
Electric Company Utility
510
210.4
$
24 Tax Expense
A/P Taxes
Paid Luxary Tax
530
220
$
24 Cash
A/R Melissa
110
120.2
$
210.4
110
$
120.2
430
$
21 Cash
A/R Steven
5
Debit
6.00
Credit
$
6.00
$
50.00
$
14.00
$
50.00
$
40.00
$
50.00
$
6.00
$
40.00
$
100.00
$
6.00
$
40.00
$
50.00
50.00
Received payment on account for Pennsylvania RR
21 Cash
Accounts Receivable: Victoria
14.00
Received payment on account for St. James Place
50.00
40.00
50.00
Received payment on account for Pennsylvania RR
6.00
40.00
100.00
6.00
Received payment on account for Vermont Avenue
24 A/P Branch
Cash
40.00
Made payment on accont for Electric Company
24 A/R Melissa
RR Rent Revenue
Earned rent on Pennsylvania Railroad
Page 6 of 21
50.00
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Patricia Carlson
Accounting 104
48
48
Page 7 of 21
Patricia Carlson
Accounting 104
JOURNAL
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
26
27
28
29
30
31
32
33
34
35
36
37
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39
40
41
42
43
44
45
46
47
Date
Nov
25 Cash
Go Revenue
Page
Description
Post Ref
110
410
$
25 Tax Expense
Taxes Payable
Paid Income Tax
530
220
$
25 Taxes Payable
Cash
Paid Luxary Tax
220
110
$
25 Cash
A/R Melissa
110
120.2
$
26 Property: Pennlysvania Avenue
Cash
150.5
110
$
27 Rent Expense
A/P Murguia
Tennessee
510
210.3
$
27 A/R Steven
Rent Revenue
Earned rent on Pennsylvanie Avenue
120.1
420
$
27 Other Expense
Cash
Community Chest: Steven's Birthday
540
110
$
28 A/P Murguia
Cash
210.3
110
$
110
120.1
$
29 A/P Taxes
Cash
Made payment on taxes
220
110
$
30 A/R Victoria
Rent Revenue
Earned rent on Vermont Avenue
120.3
420
$
30 A/P Condron
210
$
6
Debit
200.00
Credit
$
200.00
$
200.00
$
100.00
$
50.00
$
200.00
$
14.00
$
28.00
$
10.00
$
14.00
$
28.00
$
200.00
$
6.00
200.00
100.00
50.00
Received payment on account for Pennsylvania RR
200.00
14.00
28.00
10.00
14.00
Made payment on account for Tennessee Ave rent
28 Cash
A/R Steven
28.00
Received payment on account for Pennsylvania Ave rent
Page 8 of 21
200.00
6.00
350.00
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2
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Patricia Carlson
Accounting 104
48
49
Cash
Made payment for Game Piece
110
Page 9 of 21
$
350.00 48
49
Patricia Carlson
Accounting 104
JOURNAL
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
26
27
28
29
30
31
32
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34
35
36
37
38
39
40
41
Page
Date
Closing Entries
Nov
30 Revenue
Go Revenue
Rent Revenue
Railroad Revenue
Other Revenue
Post Ref
$
Debit
1,256.00
7
Credit
800.00
106.00
200.00
150.00
30 Income Summary
Rent Expense
Railroad Expense
Tax
Other Expense
Depreciation Expense
$
30 Income Summary
Patricia Carlson, capital
$
30 Patricia Carlson, capital
Patricia Carlson, drawing
$
774.00
164.00
50.00
500.00
60.00
10.00
1,500.00
1500.00
50.00
50.00
Page 10 of 21
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41
GENERAL LEDGER
Account:
DATE
Nov
1
1
2
2
3
4
5
6
6
6
8
9
10
11
12
12
13
14
15
17
17
17
19
20
20
20
21
21
21
22
23
24
24
25
25
25
26
27
28
28
29
30
CASH
Account No.
ITEM
Owners capital
St James Place
New York Avenue
Non-business expense
Baltic Avenue
Vermont Avenue
Vermont Rent
Go Revenue
Reading Railroad
St James Place
Utilities Expense
Baltic Rent
Other Revenue
Go Revenue
RR Rent
Vermont Rent
Pennsylvania RR
Pennsylvania RR Rent
Indiana Avenue Rent
Other Revenue
Income Tax
St James Place Rent
Marvin Gardens rent
Go Revenue
School Fees
Shortline RR rent
Vermont Avenue rent
Pennsylvania RR Rent
St James Place Rent
Electric Co
Pennsylvania RR rent
Vermont Avenue rent
Electric Co
Go Revenue
Taxes
Pennsylvania RR Rent
Pennsylvania Avenue
Other Espense
Pennsylvania Avenue rent
Tennessee Rent
Taxes
Game Piece
Post Ref
J1
J1
J1
J1
J1
J1
J1
J1
J1
J2
J2
J2
J2
J2
J2
J2
J3
J3
J3
J3
J3
J3
J4
J4
J4
J4
J5
J5
J5
J5
J5
J5
J5
J6
J6
J6
J6
J6
J6
J6
J6
J6
DEBIT
CREDIT
1500.00
180.00
200.00
50.00
60.00
100.00
6.00
200.00
200.00
14.00
28.00
6.00
100.00
200.00
25.00
6.00
200.00
25.00
18.00
50.00
200.00
14.00
24.00
200.00
50.00
50.00
6.00
50.00
14.00
40.00
50.00
6.00
40.00
200.00
100.00
50.00
200.00
10.00
28.00
14.00
200.00
350.00
Page 11 of 21
110
BALANCE
DEBIT
CREDIT
1500.00
1320.00
1120.00
1070.00
1010.00
910.00
916.00
1116.00
916.00
930.00
902.00
908.00
1008.00
1208.00
1233.00
1239.00
1039.00
1064.00
1046.00
1096.00
896.00
910.00
886.00
1086.00
1036.00
986.00
992.00
1042.00
1056.00
1016.00
1066.00
1072.00
1032.00
1232.00
1132.00
1182.00
982.00
972.00
1000.00
986.00
786.00
436.00
GENERAL LEDGER
Account
A/R Steven
DATE
Nov
11
12
20
20
21
21
27
28
Account
ITEM
Reading RR rent
Reading RR rent
Vermont rent
Pennsylvania rent
Vermont rent
Pennsylvania rent
Pennsylvania rent
Pennsylvania rent
22
23
23
24
24
25
Account
ITEM
Pennsylvanie RR rent
Pennsylvania RR rent
Vermont rent
Vermont rent
Pennsylvania RR rent
Pennsylvania RR rent
4
5
5
6
13
14
16
17
20
21
30
Account
DATE
Nov
8
9
11
12
Account
DATE
J2
J2
J4
J4
J5
J5
J6
J6
DEBIT
CREDIT
25.00
25.00
6.00
50.00
6.00
50.00
28.00
28.00
Post Ref
J5
J5
J5
J5
J5
J5
DEBIT
CREDIT
50.00
50.00
6.00
6.00
50.00
50.00
ITEM
Vermont rent
Vermont rent
St James Place rent
St James Place rent
Pennsylvania RR rent
Pennsylvania RR rent
St James Place rent
St James Place rent
St James Place rent
St James Place rent
Vermont rent
J1
J1
J2
J2
J3
J3
J3
J3
J4
J4
J6
DEBIT
CREDIT
6.00
6.00
14.00
14.00
25.00
25.00
14.00
14.00
14.00
14.00
6.00
A/R John
Baltic rent
Baltic rent
Vermont rent
Vermont rent
Post Ref
J2
J2
J2
J2
DEBIT
CREDIT
6.00
6.00
6.00
6.00
Game Piece
ITEM
DEBIT
Page 12 of 21
CREDIT
120.4
BALANCE
DEBIT
CREDIT
6.00
0.00
6.00
0.00
Account No.
Post Ref
120.3
BALANCE
DEBIT
CREDIT
6.00
0.00
14.00
0.00
25.00
0.00
14.00
0.00
14.00
0.00
6.00
Account No.
ITEM
120.2
BALANCE
DEBIT
CREDIT
50.00
0.00
6.00
0.00
50.00
0.00
Account No.
Post Ref
120.1
BALANCE
DEBIT
CREDIT
25.00
0.00
6.00
56.00
50.00
0.00
28.00
0.00
Account No.
A/R Victoria
DATE
Nov
Post Ref
A/R Melissa
DATE
Nov
Account No.
130
BALANCE
DEBIT
CREDIT
Nov
1
Purchased game piece
J1
350.00
350.00
GENERAL LEDGER
Account
DATE
Nov
Accum Depr - Game Piece
ITEM
30 Purchased game piece
Account
DATE
Nov
Purchased property
Account
Property: New York Avenue
DATE
ITEM
Nov
2
Account
DATE
Nov
Account
DATE
Nov
4
J6
CREDIT
10.00
Post Ref
J1
DEBIT
CREDIT
180.00
J1
DEBIT
CREDIT
200.00
Purchased property
J1
DEBIT
CREDIT
60.00
Property: Vermont Avenue
Purchasaed property
J1
DEBIT
CREDIT
100.00
ITEM
26 Purchased property
Account
DATE
Nov
Account
CREDIT
200.00
Reading Railroad
ITEM
6
J6
DEBIT
Purchased Property
J1
DEBIT
CREDIT
200.00
Pennsylvania Railroad
DATE
ITEM
13 Purchased property
DEBIT
J3 Page 13 of200.00
21
CREDIT
160.1
BALANCE
DEBIT
CREDIT
200.00
Account No.
Post Ref
150.5
BALANCE
DEBIT
CREDIT
200.00
Account No.
Post Ref
150.4
BALANCE
DEBIT
CREDIT
100.00
Account No.
Post Ref
150.3
BALANCE
DEBIT
CREDIT
60.00
Account No.
Post Ref
150.2
BALANCE
DEBIT
CREDIT
200.00
Account No.
Post Ref
150.1
BALANCE
DEBIT
CREDIT
180.00
Account No.
Post Ref
140
BALANCE
DEBIT
CREDIT
10.00
Account No.
Pennsylvania Avenue
DATE
Nov
DEBIT
Property: Baltic Avenue
ITEM
Account
Nov
Purchased property
ITEM
3
Post Ref
Property: St James Place
ITEM
1
Account No.
160.2
BALANCE
DEBIT
CREDIT
200.00
Account
A/P: Condron
DATE
Nov
ITEM
1 Purchase game piece
30 Paid for game piece
Account No.
Post Ref
J1
J6
DEBIT
CREDIT
350.00
350.00
210
BALANCE
DEBIT
CREDIT
350.00
0.00
GENERAL LEDGER
Account
A/P: Muguia
DATE
Nov
ITEM
14
15
18
19
27
28
Account
Indiana Ave rent
Indiana Ave rent
Marvin Gardens rent
Marvin Gardens rent
Tenessee rent
Tenessee rent
ITEM
7
8
19
20
21
22
23
24
Account
Electric Co.
Electric Co.
Shortline RR rent
Shortline RR rent
Electric Co.
Electric Co.
Electric Co
Electric Co
J3
J3
J4
J4
J6
J6
DEBIT
CREDIT
18.00
18.00
24.00
24.00
14.00
14.00
Account
DATE
Nov
Account
DATE
Income Tax
Income Tax
Luxury Tax
Income Tax
Luxury Tax
Income Tax
Post Ref
J3
J3
J5
J5
J5
J6
CREDIT
28.00
28.00
50.00
50.00
40.00
40.00
40.00
40.00
DEBIT
CREDIT
200.00
200.00
100.00
200.00
100.00
200.00
Owners Equity
ITEM
1
J2
J2
J4
J4
J4
J4
J4
J4
DEBIT
210.4
BALANCE
DEBIT
CREDIT
28.00
0.00
50.00
0.00
40.00
0.00
40.00
0.00
Account No.
ITEM
16
17
24
25
25
29
Post Ref
210.3
BALANCE
DEBIT
CREDIT
18.00
0.00
24.00
0.00
14.00
0.00
Account No.
A/P: Taxes
DATE
Nov
Post Ref
A/P: Branch
DATE
Nov
Account No.
Patricia Carlson Capital
DEBIT
J1
CREDIT
1500.00
Owners Drawing
ITEM
BALANCE
DEBIT
CREDIT
200.00
0.00
100.00
300.00
200.00
0.00
Account No.
Post Ref
14DEBIT
of 21
CREDIT
310
BALANCE
DEBIT
CREDIT
1500.00
Account No.
Page
Post Ref
220
BALANCE
320
DATE
Nov
ITEM
2
Account
DATE
Nov
6
11
20
25
30
Non-business expense
Post Ref
J1
DEBIT
CREDIT
50.00
Go Revenue
DEBIT
50.00
Account No.
ITEM
Post Ref
Closing
J1
J2
J4
J6
J7
DEBIT
CREDIT
200.00
200.00
200.00
200.00
800.00
CREDIT
410
BALANCE
DEBIT
CREDIT
200.00
400.00
600.00
800.00
0.00
GENERAL LEDGER
Account
Rent Revenue
DATE
Nov
4
5
8
11
16
20
20
23
27
30
30
Account
DATE
Nov
11
13
20
22
24
30
Account
Vermont Ave
St James Place
Baltic Avenue
Vermont Ave
St James Place
Vermont Ave
St James Place
Vermont Ave
Pennsylvania Ave
Vermont Ave
Closing
Post Ref
DEBIT
J1
J1
J2
J2
J3
J4
J4
J5
J6
J6
J7
CREDIT
6.00
14.00
6.00
6.00
14.00
6.00
14.00
6.00
28.00
6.00
106
Railroad Revenue
ITEM
Reading
Pennsylvania
Pennsylvania
Pennsylvania
Pennsylvania
Closing
Post Ref
DEBIT
J2
J3
J4
J5
J5
J7
CREDIT
25.00
25.00
50.00
50.00
50.00
200
10
17
30
Account
DATE
Post Ref
Closing
J2
J3
J7
DEBIT
CREDIT
100.00
50.00
150.00
Rent Expense
ITEM
DEBIT
Page 15 of 21
CREDIT
440
BALANCE
DEBIT
CREDIT
100.00
150.00
0.00
Account No.
Post Ref
430
BALANCE
DEBIT
CREDIT
25.00
50.00
100.00
150.00
200.00
0
Account No.
ITEM
420
BALANCE
DEBIT
CREDIT
6.00
20.00
26.00
32.00
46.00
52.00
66.00
72.00
100.00
106.00
0
Account No.
Other Revenue
DATE
Nov
ITEM
Account No.
510
BALANCE
DEBIT
CREDIT
Nov
7
14
18
21
23
27
30
Account
Electric Company
Indiana Avenue
Marvin Gardens
Electric Company
Electric Company
Tennessee Avenue
Closing
28.00
18.00
24.00
40.00
40.00
14.00
164.00
Railroad Expense
DATE
Nov
J2
J3
J4
J4
J4
J6
J7
19 Shortline
30
28.00
46.00
70.00
110.00
150.00
164.00
0.00
Account No.
ITEM
Post Ref
Closing
J4
J7
DEBIT
CREDIT
50.00
50.00
520
BALANCE
DEBIT
CREDIT
50.00
0.00
GENERAL LEDGER
Account
DATE
Nov
Account No.
Post Ref
J3
J5
J6
J7
DEBIT
CREDIT
200.00
100.00
200.00
500.00
Other Expense
DATE
20
27
30
Account
ITEM
Post Ref
Closing
J4
J6
J7
DEBIT
CREDIT
50.00
10.00
60.00
30
30
Post Ref
Closing
J6
J7
DEBIT
CREDIT
10.00
10.00
Page 16 of 21
540
BALANCE
DEBIT
CREDIT
50.00
60.00
0.00
Account No.
ITEM
530
BALANCE
DEBIT
CREDIT
200.00
300.00
500.00
0.00
Account No.
Depr. Expense - Game Piece
DATE
Nov
ITEM
16 Income tax
24 Luxury tax
25 Income tax
30
Closing
Account
Nov
Tax Expense
560
BALANCE
DEBIT
CREDIT
10.00
0.00
Patricia Carlson
Monopoly Worksheet
For Month End November 30, 2010
ACCOUNT TITLE
1
2
3
4
5
6
7
8
9
10
14
15
16
17
18
19
20
21
22
23
Cash
Accounts Receivable
Game Piece
Accum Depr. - Game Piece
Property
Railroads
Accounts Payable
Patricia Carlson, Capital
Patricia Carlson, Drawing
Revenue
Rent Expense
Railroad Expense
Tax Expense
Other Expense
Depr. Expense - Game Piece
TRIAL BALANCE
DEBIT
CREDIT
436.00
6.00
350.00
ADJUSTMENTS
DEBIT
CREDIT
10.00
740.00
400.00
1500.00
50.00
1256.00
164.00
50.00
500.00
60.00
2756.00
2756.00
10.00
10.00
10.00
Patricia Carlson
Monopoly Worksheet
For Month End November 30, 2010
ADJUSTED TRIAL BALANCE
DEBIT
436.00
6.00
350.00
CREDIT
INCOME STATEMENT
DEBIT
CREDIT
10.00
740.00
400.00
BALANCE SHEET
DEBIT
CREDIT
436.00
6.00
350.00
10.00
740.00
400.00
1500.00
50.00
1500.00
50.00
1256.00
164.00
50.00
500.00
60.00
10.00
2766.00
2766.00
50.00
1256.00
164.00
50.00
500.00
60.00
10.00
834.00
422.00
1256.00
1256.00
1982.00
1510.00
422.00
1932.00
1
2
3
4
5
6
7
8
9
10
14
15
16
17
18
19
20
21
22
23
Patricia Carlson Monopoly Project
Income Statement
For the Month Ended November 30, 2010
Revenue
Rent & Other Revenue
Expenses
Rent Expense
Railroad Expense
Tax Expense
Other Expense
Depr. Exp. - Game Piece
Total Expense
Net Income
$
$
1,256.00
164.00
50.00
500.00
60.00
10.00
$
784.00
472.00
Patricia Carlson Monopoly Project
Statement of Owners Equity
For the Month Ended November 30, 2010
Patricia Carlson, capital, November 1, 2010
$
Investments during November
$
Total Investment
$
1,500.00
$
422.00
$
1,922.00
Net Income for November
$
472.00
Less withdrawals for November
Increase in Capital
$
50.00
Patricia Carlson, capital, November 30,. 2010
1,500.00
-
Patricia Carlson Monopoly Project
Balance Sheet
November 30, 2010
Assets
Cash
436.00
Accounts receivable
6.00
Game Piece
350.00
Property
Railroads
740.00
400.00
Total Current Assets
1932.00
Less Accum. Dep. - Game Piece
Total Assets
10.00
10.00
1922.00
Liabilities
Current Liabilities
Accounts Payable
0.00
Owner's Equity
Patricia Carlson, capital, November 30, 2010
Total Liabilities & Owner's equity
1500.00
422.00