Question
MONOPOLY PROJECT (Accounting Cycle Project) Grading Criteria STUDENT: CLASS Possible Points Description of Criteria Points Earned Comments 10 Working papers submitted on time 30 Journal
MONOPOLY PROJECT (Accounting Cycle Project)
Grading Criteria
STUDENT:
CLASS
Possible
Points
Description of Criteria
Points
Earned
Comments
10
Working papers submitted on time
30
Journal entries prepared in proper form
30
T-accounts posted and balances taken
10
Property transactions posted in ledgers
10
Trial balance prepared in proper form
20
Income Statement
20
Statement of Changes in Player's Equity
20
Balance Sheet
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 make a trial balance. For the trial balance and financial statements make a company name for yourself.
5.From the trial balance make a 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.
*THE ADDITIONAL INFORMATION ARE ON THE PICTURES*
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