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Page of 10 MONOPOLY PROJECT (Accounting Cycle Project) Grading Criteria CLASS STUDENT: Possible Points Points Earned Comments 10 30 30 10 Description of Criteria Working papers submitted on time Journal entries prepared in proper form T-accounts posted and balances taken Property transactions posted in ledgers Trial balance prepared in proper form Income Statement Statement of Changes in Player's Equity Balance Sheet 10 20 20 20 150 TOTAL POINTS REQUIREMENTS: 1. All transactions should be recorded in proper format in the general journal. (Debit account listed first, credit account listed second and indented.) Assume first transaction is September 1 and then each subsequent transaction on the next day. 2. Set up T accounts showing title above the T and post the transactions and be sure to record transaction number (date) in T accounts. 3. Enter purchases and sales of properties, railroads and utilities in the proper ledger pages. Put the reference number. This is just for property purchases not houses or hotels 4. Calculate balances in all T accounts and prepare a trial balance. For the trial balance and financial statements create a company name for yourself 5. From the trial balance prepare an Income Statement, Statement of Player's Equity and Balance Sheet in proper format. Use the time period of month ended September 30, 2019 You do these on your own paper and attach to the packet MacBook Pro NO Page of 10 Chant or Accounts Account Number Normal Balance 101 105 110 120 130 140 150 Debt Debit Debit Debit Debit Debe Debt 200 201 210 Credit Credit Credit 301 305 Credit Debit 401 405 410 415 420 425 430 435 440 445 450 455 Account Title ASSETS Cash Accounts Receivable Investment in Railroads Investment in Utdes Investment in Property Houses Hotels LIABILITIES Accounts Payable Mortgage Payable Notes Payable EQUITY Player's Capital Player's Withdrawals REVENUES Salary income Rental income Railroad income Usity Income Dividend Income Inheritance Proceeds Life Insurance Proceeds Stock Sale Proceeds Proceeds from Sales of Property Parking Income Lottery income Miscellaneous Income EXPENSES Rent Expense Railroad Expense Income Tax Expense School Tax Expense Poor Tax Expense Luxury Tax Expense General Repairs Expense Street Repairs Expense Hospital Expense Doctor's Fee Expense Jal Fee Expense Interest Expense Uits Expense Miscellaneous Expense Accounting Expense Cost of property sold Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit 601 602 605 610 615 620 625 630 635 640 845 650 655 660 665 670 Debit Debit Debt Debt Dobi Debit Debit Debit Debi Debit Debit Debt Debit Debit Debit Debit MacBook Pro Q BE Page 4 > of 10 GENERAL JOURNAL Pages Debat Date Description Credit MacBook Pro r Q 7 $ % & Page of 10 MacBook Pro @ 2 + 3 $ 4 % 5 6 7 00 9 ) 0 W E R T Y U I 0 Page of 10 MacBook Pro a ! 2 3 $ 4 5 6 & 7 8 9 o IT 2 W E R T Y U I O Page > of 10 ZOOM Subsidiary Ledgers Investment in Property Ledger TOTALS Investment in Railroads Ledger Dale TOTALS Investment in Utilities Ledger TOTALS MacBook Pro Go 7 7 e 2 3 4 5 6 & 7 8 ( 9 ) 0 W E R T Y U I 0 P Page 10 > of 10 2DOM Trial C MacBook Pro Q * + $ 4 3 5 6 ( 9 7 8 0 7 W E R T Y U 0 P Page of 10 MONOPOLY PROJECT (Accounting Cycle Project) Grading Criteria CLASS STUDENT: Possible Points Points Earned Comments 10 30 30 10 Description of Criteria Working papers submitted on time Journal entries prepared in proper form T-accounts posted and balances taken Property transactions posted in ledgers Trial balance prepared in proper form Income Statement Statement of Changes in Player's Equity Balance Sheet 10 20 20 20 150 TOTAL POINTS REQUIREMENTS: 1. All transactions should be recorded in proper format in the general journal. (Debit account listed first, credit account listed second and indented.) Assume first transaction is September 1 and then each subsequent transaction on the next day. 2. Set up T accounts showing title above the T and post the transactions and be sure to record transaction number (date) in T accounts. 3. Enter purchases and sales of properties, railroads and utilities in the proper ledger pages. Put the reference number. This is just for property purchases not houses or hotels 4. Calculate balances in all T accounts and prepare a trial balance. For the trial balance and financial statements create a company name for yourself 5. From the trial balance prepare an Income Statement, Statement of Player's Equity and Balance Sheet in proper format. Use the time period of month ended September 30, 2019 You do these on your own paper and attach to the packet MacBook Pro NO Page of 10 Chant or Accounts Account Number Normal Balance 101 105 110 120 130 140 150 Debt Debit Debit Debit Debit Debe Debt 200 201 210 Credit Credit Credit 301 305 Credit Debit 401 405 410 415 420 425 430 435 440 445 450 455 Account Title ASSETS Cash Accounts Receivable Investment in Railroads Investment in Utdes Investment in Property Houses Hotels LIABILITIES Accounts Payable Mortgage Payable Notes Payable EQUITY Player's Capital Player's Withdrawals REVENUES Salary income Rental income Railroad income Usity Income Dividend Income Inheritance Proceeds Life Insurance Proceeds Stock Sale Proceeds Proceeds from Sales of Property Parking Income Lottery income Miscellaneous Income EXPENSES Rent Expense Railroad Expense Income Tax Expense School Tax Expense Poor Tax Expense Luxury Tax Expense General Repairs Expense Street Repairs Expense Hospital Expense Doctor's Fee Expense Jal Fee Expense Interest Expense Uits Expense Miscellaneous Expense Accounting Expense Cost of property sold Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit 601 602 605 610 615 620 625 630 635 640 845 650 655 660 665 670 Debit Debit Debt Debt Dobi Debit Debit Debit Debi Debit Debit Debt Debit Debit Debit Debit MacBook Pro Q BE Page 4 > of 10 GENERAL JOURNAL Pages Debat Date Description Credit MacBook Pro r Q 7 $ % & Page of 10 MacBook Pro @ 2 + 3 $ 4 % 5 6 7 00 9 ) 0 W E R T Y U I 0 Page of 10 MacBook Pro a ! 2 3 $ 4 5 6 & 7 8 9 o IT 2 W E R T Y U I O Page > of 10 ZOOM Subsidiary Ledgers Investment in Property Ledger TOTALS Investment in Railroads Ledger Dale TOTALS Investment in Utilities Ledger TOTALS MacBook Pro Go 7 7 e 2 3 4 5 6 & 7 8 ( 9 ) 0 W E R T Y U I 0 P Page 10 > of 10 2DOM Trial C MacBook Pro Q * + $ 4 3 5 6 ( 9 7 8 0 7 W E R T Y U 0 P