Simulation 1 - Game of Monopoly

Play the game of Monopoly. This can be done with an online version or with friends for the traditional board game. (Hint: Whining that you are forced to play this game for an accounting class may make your friends feel bad enough that they will bring you pizza :-) )

OBJECTIVE: Each player will be considered a company. Your objective in playing this game is to create a year end report to your shareholders following 4 quarters. Each quarter report will include a balance sheet, profit and loss statement, and cash flow statement along with a narrative/report to shareholders for the quarter. The overall annual report will compile the data for all 4 quarters into a single annual balance sheet, profit and loss statement, statement of shareholder's equity and cashflow statement along with a narrative/report summary to shareholders.

RULES:

1. Write down your accounting transactions for each round (each player plays once, equaling one month of the year) including amount of cash at start and end, rent collected, expenses paid, community chest or chance cards your company draws, other income (passing go), hotel/motel purchases, or other expenses. Each will be an account line in your financial reports (rental income, tax, lodging, etc.)

To make the process of recording easier, it is suggested to create a chart of accounts prior to starting the game that can be used to easily record transactions as they occur.

1. One year is equal to 12 rounds of the game. create financials for each quarter, for a total of 4 quarters and 1 full year (12 turns).
2. Create financials for each quarter, along with a narrative explaining financials. For any assumptions or calculations conducted, include this in an appendix for each quarter.
3. Compile annual statements for the year.

Quarter one:

started with 1500

bought 2 properties totaling 280

paid rent 18

collected rent 14

collected 200 for passing go

Quarter two:

Started with 1,416

Bought properties totaling 610

Paid rent 6

collected rent 35

Quarter Three:

started with 835

bought 1 property 60

collected rent 48

Passed go 200

Quarter four:

Started with 1023

bought 2 properties 440

collected rent 28