Question
Use the following transactions to make the following: Journal entries Posting to T-accounts Trial balance Statement of Retained Earnings Income Statement Balance sheet Transactions: Starting
Use the following transactions to make the following:
Journal entries
Posting to T-accounts
Trial balance
Statement of Retained Earnings
Income Statement
Balance sheet
Transactions:
Starting cash on hand (COH): $2,000 (10 rolls)
List of transactions:
-
Bought Mediterranean Avenue (-$60), COH: $1,940
-
Bought Oriental Avenue ($100), COH: $1,840
-
Bought St. Charles Place ($140), COH: $1,700
-
Landed on St. James Place (already purchased), had to pay rent $50, COH: $1,650
-
Bought Atlantic Avenue ($260), COH $1,390 + $200 because passed GO space ($1,590)
-
Landed on community chest, had to pay rent $100, COH: $1,490
-
Landed on New York Avenue (already purchased), had to pay rent $80, COH: $1,410
-
Landed on community chest, had to pay rent $50, COH $1,360
-
Bought Pacific Avenue ($300), COH $1,060
-
Bought Reading Railroad ($200), COH $860
Total cash expended during the game: $1,140
Cash on hand at the end: $860
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