The general journal. You should record your transactions as you play the game. Make sure that you have recorded journal entries in the proper format - including a description of the transaction and the date (turn). The general ledger . Set up the general ledger using the chart of accounts I've provided. Post all transactions to the general ledger. An unadjusted trial balance . Year-end adjusting entries. An adjusted trial balance (Year-end financial statements including a multi-step income statement (, and a classified balance sheet and a Statement of Retained Earnings. ( Closing entries. (Please use the Income Summary method of closing accounts, ) A post-closing trial balance. Reversing entries, where appropriate (

TURN 1 Pentonville Road $120 TURN 2 free space TURN 3 Marylebone Station $200 TURN 4 Leicester Square $260 TURN 5 Liverpool St Station $200 TURN 6 Salary Revenue passing go $200 Old Kent Road $60 TURN 7 pay The angel, islington $6 TURN 8 pass TURN 9 Strand $220 TURN 10 pass TURN 11 receive rent $22 Leicester Square TURN 12 Park Lane $350 TURN 13 passing go Salary Revenue $200 TURN 14 chance card, passing go Salary Revenue $200 Kings Cross Station $200 TURN 15free space TURN 16 recive $8 Pentonville Road Income tax refund $20 TURN 17 Fleet Street $220 TURN 18 pay $26 rent Regent street TURN 19 Chance card collect go $200 Salary Revenue pay $6 euston road TURN 20 Electric Company $140 TURN 21 Bow Street $180 TURN 22 pay $20 trafalgar sqaure TURN 23 Recive $8 Pentonville Road TURN 24 pay 26 regent street TURN 25 recive $14 Bow Street TURN26 Ending balance $38 Pay $100 tax CASHAcct No. Account Title To DescriptionlExplanation of Increase Account 100 Cash Debit Currency 110 Accounts Receivable Debit Earnings from traveling around the board but not yet received 120 Prepaid Assets Debit Get Out of Jail Free cards 200 Land Debit Cost of undeveloped land purchased 210 Buildings-Houses Debit Cost of houses purchased 211 Accumulated Depreciation- Credit Amount of the houses' cost that Houses has been allocated to Depreciation Expense since the time the house was acquired 215 Buildings-Hotels Debit Cost of hotels purchased 216 Accumulated Depreciation- Credit Amount of the hotels' cost that has Hotels been allocated to Depreciation Expense since the time the house was acquired 220 Investments-Utilities Debit Cost of purchasing utility companies 221 Investments-Railroads Debit Cost of purchasing railroad companies 300 Interest Payable Credit Amount owed for interest on Notes Payable up until the date of the balance sheet. 301 Property Taxes Payable Credit Amount owed at year end based on the amount of land, building, and investments owned 302 Dividends Payable Credit Dividends declared but not yet distributed 400 Notes Payable Credit Amounts borrowed from the bank 500 Paid-In Capital Credit Amount the owner has invested in the company (though cash or other assets) 510 Retained Earnings Credit Earnings of the company not distributed as dividends 511 Dividends Debit Retained Earnings distributed to owners 600 Salary Revenue Credit Revenue earned from passing GO 601 Rent Revenue Credit Revenue earned from players landing on properties you own. Includes rent from both developed and undeveloped land 602 Investment Income Credit Income earned from utilities and railroads 603 Miscellaneous Income Credit Income earned from miscellaneous activities (from Chance and Community Chest cards) 700 Rent Expense Debit Cost of landing on property owned by another player For example, your cover page should be on the first sheet, your journal entries on the second sheet, your general ledger on the third; and your trial balance on the fourth sheet. The trial balance should be tied to the total on your general ledger with a formula. From this point forward, use formulas wherever possible to show me that you understand where the numbers come from. The tabs for each sheet should be labeled. Please present each of the financial statements on a separate sheet. Your cover page should be included in the Excel file (please do not use a separate Word file for your cover sheet)