10 15 Journal entries prepared in proper form T-accounts posted and balances taken Trial balance prepared in proper form Income Statement in proper form Statement of Owner's Equity in proper form Balance Sheet in proper form 15 15 15 MONOPOLY PROJECT CHART OF ACCOUNTS Account Number Account Title Normal Balance ASSETS 100 Cash Debit 110 Investment in Railroads Debit 120 Investment in Utilities Debit Debit Property/Street Title Deeds 140 Debit Houses 150 Hotels Debit 130 LIABILITIES 200 210 Credit Mortgage Note Payable Loan From Bank Credit EQUITY 300 Your Name, Capital Credit REVENUES 400 410 420 430 440 450 460 470 480 GO Salary Income Rental Income Utilities/ Railroad Income Dividend Income Inheritance Proceeds Life Insurance Proceeds Contest Winnings Proceeds Miscellaneous Income Gain on Sale of Property Credit Credit Credit Credit Credit Credit Credit Credit Credit Debit EXPENSES 500 510 520 Debit Debit 540 Rent Expense Utilities/Railroad Expense School Tax Expense Poor Tax Expense Luxury Tax Expense Income Tax Expense Repairs Expense Hospital/Doctor Fee Expense Jail Fee Expense Miscellaneous Expense Loss on Sale of Property 560 $70 580 590 599 Debit Debit Debit Debit Debit Debit Debit Debit Credit Date or # MONOPOLY PROJECT GENERAL JOURNAL Account Titles and Explanations P.R. Debit M.Lee .capital MISC expense 60 Cash OS 10 Rent excesse Cash 0 ICOS Che income 5 ALIYOS Avenue 21 6 tee expense 5 1 Tennessee Avenue COSTA Dennslono Avenue COSE 9 GO CON income 10 Partlc Ovenue 20 rood expense 12 Cosh Go Salary income 200 IDD Date MONOPOLY PROJECT GENERAL JOURNAL Account Titles and P.R. Explanations Rent expene or # Debit Credit Cash Go Salon income ROM pod expense costexpense Railroad expense Rent expense cos cash Rent Income Rent expense con Cash pent Income cash GD Salary income Connecticut Ave 24 cash Rent income Date MONOPOLY PROJECT GENERAL JOURNAL Account Titles and P.R. Explanations Rent expense Debit Credit or # 2 Goshe pertcome Cash Rent income Misc expense Cash Cash Cand income Cash Rent income Go salary income 31