BAF3M
NAME:
DATE:
Monopoly: Instructions & Evaluation
As a summative assignment you will play Monopoly and keep track of your
transactions modeling a service business. As a team you are required to make at
least one transaction each time you roll the dice. Additional transactions will also
be necessary at other times during the game.
Journaling: print the date once for each class period of play, and after that print
the time of the transaction. Journalize your transactions as you play. You will need
to make up accounts as the game progresses. Some transactions can be tricky;
remember double entry accounting (Dr = Cr).
Consider the journaling in class on paper to be your “rough work”. Later you will set
up your ‘monopoly company’ using Simply Accounting software. Using the software
you and your partner will need to enter the financial transaction (journal). Simply
Accounting produces the rest of the financial statement for you!
Time Periods: Treat each day of play as a separate fiscal period. We will play over
four class periods
Teams will be made up of 2 players; there will be three teams per game. Each team
will complete the game play, journaling and work on Simply Accounting together, but
write up the final project independently. Each team will assume one of the
following responsibilities:
 Banker
 Real Estate Broker
 Auditor (checks others)
Banker’s Responsibilities:
1. Distribution of cash at the beginning and collection of cash at the end of
each day. (Separate records must also be kept to ensure the correct
distribution of cash)
2. Distribution and collection of cash during game play
Real Estate Broker’s Responsibilities:
1. Selling of real estate properties.
2. Distribution and collection of properties each week.
3. Records of sales.
Auditor’s Responsibilities:
1. Each game day check the banker’s and real estate broker’s records
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BAF3M
NAME:
DATE:
Each team must keep records in the file folder given so that all records stay in one
place.
If you are going to be absent on a Monopoly day make sure to let me know and your
partner know in advance. If something comes up at the last minute it is YOUR
responsibility to call me (905) 833 – 5332 x468 and leave a message and call your
partner. If you do not follow these arrangements you WILL loose the marks
assigned to that day, and the game will go on without you.


Treat each day of play as a separate accounting period.
Game play journalizing, will be done as the game progresses. Posting and the
production of financial statements must be done using Simply Accounting
software.
Monopoly Organization Recommendations & Instructions
Your monopoly game is your ‘company’; you decide how to perform the bookkeeping
and accounting for it.
 Play the game SLOWLY; give your team and the other teams time to
journalize everything! You will have at least four class periods to play –
there is no rush!
 Use three separate revenue accounts: “GO”, rent, and miscellaneous; you may
get more sophisticated and use subsidiary revenue accounts for each
property.
 Keep a separate asset account for each property; group your properties into
consolidated accounts by “colour”.
 You will have various rent expense accounts, including a miscellaneous
expense account
 You must keep separate ledger accounts for each property you own. For each property
you will have an asset account, which records the purchase of the property. Also it will
account for any improvements made to the property (ie: houses and hotels). You will
also have a revenue account for each property that will record the rental revenue you
receive from that property. This account could also be used to record any expenses
for this property.
Examples: Sample Transactions: see the next page! Lets do some
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BAF3M
NAME:
DATE:
Monopoly Summative Evaluation
Using Simply Accounting
 10% weighting completed individually
 Include the evaluation with your project
Play: Game day attendance and participation
DAY:
1
2
3
4
5
/5
Formal Hand-in: bound or in a duo-tang folder
Table of Contents
Executive Summary (1 page)
/2
/5




Introduction to project
What you did, how you did it
Results of play
Other

Your game strategy and what happened during play
Team Strategy
/3
Completed journal
/5
 Simply print out and a copy of your journalizing with paper and pencil
Trial Balances for each fiscal period
/5
Income statements for each fiscal period
/5
Balance sheets for each fiscal period
/5
Discussion of financial results (2+ pages)
/10





Comparison of the financial statements each fiscal period
changes in the balance sheet and income statement
Changes in OE; liquidity
Use of ratios & percent
Overall profit / loss
Explanation of what you learned (1 page)
Changes / improvements for next time** (1 page)
GAAP’s (1 page)


/5
/5
/10
explain how 5 GAAP rules are relevant to the game
how did they apply?
Explain how your game modeled the real accounting cycle /5
Organization and clarity of your work
/5
TOTAL
70
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