Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

These are a list of the transactions I have from playing Monopoly. I need to create a balance sheet, income statement, and cash flow. STOCK-

These are a list of the transactions I have from playing Monopoly. I need to create a balance sheet, income statement, and cash flow.

STOCK- Issued $1500 common stock

LAND/STOCK- $600 issued for purchase of Land

1 RENT REVENUE- $16.00 From New York Ave

2 CONSULTING REV(ACCTS REC.) - Collected $200 for passing Go

3 LAND - Purchase Kentucky Ave $220.00

4 RENT EXPENSE - $200.00 for landing on Railroad

5 CONSULTING REV(ACCTS REC.) - Collected $200 for passing Go

6 DIVIDENDS - Paid $200 to bank for landing on Income Tax

7 RENT REVENUE - $2.00 from Mediterranean Ave.

8 UTILITIES - Purchase Electric Company $150.00

9 INVESTMENT INCOME - Earned $20.00 from Electric Company

10 RENT EXPENSE - $26.00 for landing on Pacific Ave.

11 RENT REVENUE - $16.00 from New York Ave.

12 DIVIDENDS - Paid $75.00 for Luxury Tax

13 CONSULTING REVENUE - $200.00 For Passing Go

14 LAND - Purchased Oriental Ave. for $100.00

15 RENT REVENUE - Movie Company to use property as set, collected $200.00

16 LAND - Purchased Atlantic Ave. for $200.00

17 LAND - Purchased Indiana Ave. for $200.00

18 BUILDINGS - Purchased a house for Kentucky Ave. For $150.00 19 DIVIDENDS - Paid $75.00 for Luxury Tax

20 CONSULTING REVENUE - $200.00 For Passing Go

21 TRAVEL EXPENSE - Paid $100 for landing on Pacific Railroad

22 RENT REVENUE - $40 from Illinois Ave.

23 BUILDINGS - Purchased a house for Indiana Ave. For $150.00

24 RENT EXPENSE - Paid $12.00 from landing on Virginia Ave.

25 RENT EXPENSE - Paid $14.00 for landing on St. James Place

26 RENT REVENUE - Earned $10 from States Ave.

27 RENT EXPENSE - Paid $56.00 for landing on Pennsylvania Ave.

28 RENT REVENUE - Earned $90 from Kentucky Ave.

29 CONSULTING REVENUE - $200.00 For Passing Go

30 TRAVEL EXPENSE - Paid $100 for landing on Pacific Railroad

31 RENT REVENUE - Earned $90.00 from Indiana Ave.

32 RENT EXPENSE - Paid $56.00 for landing on Pennsylvania Ave.

33 DIVIDENDS - Paid $75.00 for Luxury Tax

34 FINE EXP - Paid $50.00 Fee to get out of Jail

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting For Dummies

Authors: Steven Collings

1st Edition

111855437X, 9781118554371

More Books

Students also viewed these Accounting questions

Question

8. What do you need to be doing to develop your leaders further?

Answered: 1 week ago