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Mandi Martin's Monopoly Journal
   Date        Accounts                                  Post Ref. Debit      Credit
 1   3/12/2009 Cash                                            101       1500
 2             M. Martin, Capital                              301                  1500
 3             received owner investment
 4   3/12/2009 Property                                        130        100
 5             Cash                                            101                   100
 6             bought Vermont Ave.
 7   3/12/2009 Property                                        130        160
 8             Cash                                            101                   160
 9             bought Virginia Ave.
10   3/12/2009 Property                                        130        200
11             Cash                                            101                   200
12             bought B. & O. Railroad
13   3/12/2009 Cash                                            101         25
14             Rent Revenue                                    415                    25
15             Mollie landed on B. & O. Railroad
16   3/12/2009 Property                                        130        300
17             Cash                                            101                   300
18             bought Pacific Ave.
19   3/12/2009 Property                                        130        200
20             Cash                                            101                   200
21             bought Short Line Railroad
22   3/12/2009 Cash                                            101        200
23             Passing Go                                      401                   200
24             passed go
25   3/12/2009 Cash                                            101        200
26             Passing Go                                      401                   200
27             passed go
28   3/12/2009 Rent Expense                                    535         25
29             Cash                                            101                    25
30             landed on Jared's Reading Railroad
31   3/12/2009 Property                                        130        200
32             Cash                                            101                   200
33             bought Pennsylvania Railroad
34   3/12/2009 Cash                                            101         26
35             Rent Revenue                                    415                    26
36             Andrew landed on Pacific Ave.
37   3/12/2009 Property                                        130        260
38             Cash                                            101                   260
39             bought Atlantic Ave.
40   3/12/2009 Luxury Tax                                      523         75
41             Cash                                            101                    75
42             paid luxury tax
43   3/12/2009 Cash                                            101        200
44             Passing Go                                      401                   200
45             passed go
46   3/12/2009 Rent Expense                                    535          6
47             Cash                                            101                     6
48             landed on Andrew's Oriental Ave.
49   3/12/2009 Cash                                            101         22
50             Rent Revenue                                    415                    22
51             Andrew landed on Atlantic Ave.
52   3/12/2009 Rent Expense                                    535         40
53             Cash                                            101                    40
54             landed on Jared's electric company
55   3/12/2009 Rent Expense                                    535         16
56             Cash                                            101                    16
57             landed on Jared's New York Ave.
58   3/12/2009 Cash                                            101        100
59             Rent Revenue                                    415                   100
60             Jared landed on Short Line Railroad
61   3/12/2009 Cash                                            101          6
62             Rent Revenue                                    405                     6
63             Mollie landed on Vermont Ave.
66             Totals                                                    3861       3861

          Mandi Martin's Monopoly Journal Closing Entries
     31-Mar-09 Passing Go Revenue                              401       600
               Rent Revenue                                    415       179
               Mandi Martin, Capital                           301                  779
                close all Revenue Accounts

        31-Mar Mandi Martin, Capital                           301       162
               Luxury Tax Expense                              523                   75
Rent Expense                  87
 close all Expense Accounts
Mandi Martin's General Ledger
  Account: Cash                                               Account # 101
                                                                                                   Balance
   Date        Explanation                          Post Ref. Debit      Credit           Debit        Credit
 1   3/12/2009 owner invests money                  G1              1500                          1500
 2   3/12/2009 bought Vermont Ave.                  G1                              100           1400
 3   3/12/2009 bought Virginia Ave.                 G1                              160           1240
 4   3/12/2009 bought B. &. O. R.R.                 G1                              200           1040
 5   3/12/2009 Mollie landed on B. & O. R.R.        G1                25                          1065
 6   3/12/2009 bought Pacific Ave.                  G1                              300            765
 7   3/12/2009 bought Short Line R.R.               G1                              200            565
 8   3/12/2009 passed go                            G1               200                           765
 9   3/12/2009 passed go                            G2               200                           965
10   3/12/2009 landed on Jared's Reading R.R.       G2                               25            940
11   3/12/2009 bought Pennsylvania R.R.             G2                              200            740
12   3/12/2009 Andrew landed on Pacific Ave.        G2                26                           766
13   3/12/2009 bought Atlantic Ave.                 G2                              260            506
14   3/12/2009 Luxury Tax                           G2                               75            431
15   3/12/2009 passed go                            G2               200                           631
16   3/12/2009 landed on Andrew's Oriental Ave.     G2                               6             625
17   3/12/2009 Andrew landed on Atlantic Ave.       G3                22                           647
18   3/12/2009 landed on Jared's electric company   G3                              40             607
19   3/12/2009 landed on Jared's New York Ave.      G3                              16             591
20   3/12/2009 Jared landed on Short Line R.R.      G3               100                           691
21   3/12/2009 Mollie landed on Vermont Ave.        G3                 6                           697

  Account: Property                                           Account # 130
                                                                                                   Balance
   Date        Explanation                          Post Ref. Debit     Credit            Debit        Credit
 1   3/12/2009 Vermont Ave.                         G1              100                            100
 2   3/12/2009 Virginia Ave.                        G1              160                            260
 3   3/12/2009 B. & O. Railroad                     G1              200                            460
 4   3/12/2009 Pacific Ave.                         G1              300                            760
 5   3/12/2009 Short Line Railroad                  G1              200                            960
 6   3/12/2009 Pennsylvania Ave.                    G2              200                           1160
 7   3/12/2009 Atlantic Ave.                        G2              260                           1420

  Account: M. Martin, Capital                                 Account # 301
                                                                                                  Balance
   Date         Explanation                         Post Ref. Debit     Credit     Debit              Credit
 1    3/12/2009 owner invests money                 G1                       1500                          1500
 2    3/31/2009 Close all Revenue accounts          G3                         779                         2279
 3 3/31/200     Close all Expense accounts          G3              162                                    2117

  Account: Passing Go Revenue                                 Account # 401
                                                                                                  Balance
   Date        Explanation                          Post Ref. Debit     Credit     Debit              Credit
 1   3/12/2009 passed go                            G1                         200                              200
 2   3/12/2009 passed go                            G2                         200                              400
 3   3/12/2009 passed go                            G2                         200                              600
     3/31/2009 Closing Entry                        G3              600                              0            0

  Account: Rent Revenue                                       Account # 415
                                                                                                  Balance
   Date        Explanation                          Post Ref. Debit     Credit            Debit       Credit
 1   3/12/2009 Mollie landed on B. & O. R.R.        G1                               25                          25
 2   3/12/2009 Andrew landed on Pacific Ave.        G2                               26                          51
 3   3/12/2009 Andrew landed on Atlantic Ave.       G2                               22                          73
 4   3/12/2009 Jared landed on Short Line R.R.      G2                              100                         173
 5   3/12/2009 Mollie landed on Vermont Ave.        G2                                6                         179
 6   3/31/2009 Close Rent Revenue                   G3              179                              0            0

  Account: Luxury Tax                                         Account # 523
                                                                                                  Balance
   Date        Explanation                          Post Ref. Debit        Credit         Debit       Credit
 1   3/12/2009 Luxury Tax                           G2                75                           75
     3/31/2009 Close Luxury Tax Expense             G2                              75              0            0

  Account: Rent Expense                                       Account # 535
                                                                                                  Balance
   Date        Explanation                          Post Ref. Debit        Credit         Debit       Credit
 1   3/12/2009 landed on Jared's Reading R.R.       G2                25                           25
 2   3/12/2009 landed on Andrew's Oriental Ave.     G2                 6                           31
 3   3/12/2009 landed on Jared's electric company   G3                40                           71
4   3/12/2009 landed on Jared's New York Ave.   G3   16        87
    3/31/2009 Close Rent Expense                G3        87    0   0
Mandi Martin's Monopoly                           Mandi Martin's Monopoly
                        Trial Balance                               Post-Closing Trial Balance
                          12-Mar-09                                          31-Mar-09
Cash                                          697            Cash                      697
Property                                     1420            Property                 1420
M. Martin, Capital                                    1500   M. Martin, Capital                2117
Passing Go Revenue                                     600   Totals                   2117     2117
Rent Revenue                                           179
Luxury Tax                                       75
Rent Expense                                     87

Totals                                       2279     2279

                   Mandi Martin's Monopoly
                     Income Statement
               For Month Ended March 31, 2009
Revenue:
 Passing Go Revenue                             600
 Rent Revenue                                   179
      Total Revenue                                    779
Expenses:
 Luxury Tax Expense                              75
 Rent Expense                                    87
      Total Operating Expenses                         162
Total Net Income                                       617

                   Mandi Martin's Monopoly
           Statement of Changes in Owner's Equity
               For Month Ended March 31, 2009
Beginning Capital Balance                                0
  Add: Investments (Capital total)           1500
        Net Income (from Income Stmt)         617
  Total Increase in Capital                           2117
  Less Withdrawals                                       0
Ending Capital Balance                                2117

                   Mandi Martin's Monopoly
                       Balance Sheet
               For Month Ended March 31, 2009
ASSETS
   Cash                                       697
   Property                                  1420
Total Assets                                          2117
LIABILITIES
 Payables                                         0
Total Liabilities                                        0
OWNER'S EQUITY
  Mandi Martin, Capital (from SCOE)          2117
Total Owner's Equity                                  2117
Total Liabilities and Owner's Equity                  2117

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Closing entries

  • 1. Mandi Martin's Monopoly Journal Date Accounts Post Ref. Debit Credit 1 3/12/2009 Cash 101 1500 2 M. Martin, Capital 301 1500 3 received owner investment 4 3/12/2009 Property 130 100 5 Cash 101 100 6 bought Vermont Ave. 7 3/12/2009 Property 130 160 8 Cash 101 160 9 bought Virginia Ave. 10 3/12/2009 Property 130 200 11 Cash 101 200 12 bought B. & O. Railroad 13 3/12/2009 Cash 101 25 14 Rent Revenue 415 25 15 Mollie landed on B. & O. Railroad 16 3/12/2009 Property 130 300 17 Cash 101 300 18 bought Pacific Ave. 19 3/12/2009 Property 130 200 20 Cash 101 200 21 bought Short Line Railroad 22 3/12/2009 Cash 101 200 23 Passing Go 401 200 24 passed go 25 3/12/2009 Cash 101 200 26 Passing Go 401 200 27 passed go 28 3/12/2009 Rent Expense 535 25 29 Cash 101 25 30 landed on Jared's Reading Railroad 31 3/12/2009 Property 130 200 32 Cash 101 200 33 bought Pennsylvania Railroad 34 3/12/2009 Cash 101 26 35 Rent Revenue 415 26 36 Andrew landed on Pacific Ave. 37 3/12/2009 Property 130 260 38 Cash 101 260 39 bought Atlantic Ave. 40 3/12/2009 Luxury Tax 523 75 41 Cash 101 75 42 paid luxury tax 43 3/12/2009 Cash 101 200 44 Passing Go 401 200 45 passed go 46 3/12/2009 Rent Expense 535 6 47 Cash 101 6 48 landed on Andrew's Oriental Ave. 49 3/12/2009 Cash 101 22 50 Rent Revenue 415 22 51 Andrew landed on Atlantic Ave. 52 3/12/2009 Rent Expense 535 40 53 Cash 101 40 54 landed on Jared's electric company 55 3/12/2009 Rent Expense 535 16 56 Cash 101 16 57 landed on Jared's New York Ave. 58 3/12/2009 Cash 101 100 59 Rent Revenue 415 100 60 Jared landed on Short Line Railroad 61 3/12/2009 Cash 101 6 62 Rent Revenue 405 6 63 Mollie landed on Vermont Ave. 66 Totals 3861 3861 Mandi Martin's Monopoly Journal Closing Entries 31-Mar-09 Passing Go Revenue 401 600 Rent Revenue 415 179 Mandi Martin, Capital 301 779 close all Revenue Accounts 31-Mar Mandi Martin, Capital 301 162 Luxury Tax Expense 523 75
  • 2. Rent Expense 87 close all Expense Accounts
  • 3. Mandi Martin's General Ledger Account: Cash Account # 101 Balance Date Explanation Post Ref. Debit Credit Debit Credit 1 3/12/2009 owner invests money G1 1500 1500 2 3/12/2009 bought Vermont Ave. G1 100 1400 3 3/12/2009 bought Virginia Ave. G1 160 1240 4 3/12/2009 bought B. &. O. R.R. G1 200 1040 5 3/12/2009 Mollie landed on B. & O. R.R. G1 25 1065 6 3/12/2009 bought Pacific Ave. G1 300 765 7 3/12/2009 bought Short Line R.R. G1 200 565 8 3/12/2009 passed go G1 200 765 9 3/12/2009 passed go G2 200 965 10 3/12/2009 landed on Jared's Reading R.R. G2 25 940 11 3/12/2009 bought Pennsylvania R.R. G2 200 740 12 3/12/2009 Andrew landed on Pacific Ave. G2 26 766 13 3/12/2009 bought Atlantic Ave. G2 260 506 14 3/12/2009 Luxury Tax G2 75 431 15 3/12/2009 passed go G2 200 631 16 3/12/2009 landed on Andrew's Oriental Ave. G2 6 625 17 3/12/2009 Andrew landed on Atlantic Ave. G3 22 647 18 3/12/2009 landed on Jared's electric company G3 40 607 19 3/12/2009 landed on Jared's New York Ave. G3 16 591 20 3/12/2009 Jared landed on Short Line R.R. G3 100 691 21 3/12/2009 Mollie landed on Vermont Ave. G3 6 697 Account: Property Account # 130 Balance Date Explanation Post Ref. Debit Credit Debit Credit 1 3/12/2009 Vermont Ave. G1 100 100 2 3/12/2009 Virginia Ave. G1 160 260 3 3/12/2009 B. & O. Railroad G1 200 460 4 3/12/2009 Pacific Ave. G1 300 760 5 3/12/2009 Short Line Railroad G1 200 960 6 3/12/2009 Pennsylvania Ave. G2 200 1160 7 3/12/2009 Atlantic Ave. G2 260 1420 Account: M. Martin, Capital Account # 301 Balance Date Explanation Post Ref. Debit Credit Debit Credit 1 3/12/2009 owner invests money G1 1500 1500 2 3/31/2009 Close all Revenue accounts G3 779 2279 3 3/31/200 Close all Expense accounts G3 162 2117 Account: Passing Go Revenue Account # 401 Balance Date Explanation Post Ref. Debit Credit Debit Credit 1 3/12/2009 passed go G1 200 200 2 3/12/2009 passed go G2 200 400 3 3/12/2009 passed go G2 200 600 3/31/2009 Closing Entry G3 600 0 0 Account: Rent Revenue Account # 415 Balance Date Explanation Post Ref. Debit Credit Debit Credit 1 3/12/2009 Mollie landed on B. & O. R.R. G1 25 25 2 3/12/2009 Andrew landed on Pacific Ave. G2 26 51 3 3/12/2009 Andrew landed on Atlantic Ave. G2 22 73 4 3/12/2009 Jared landed on Short Line R.R. G2 100 173 5 3/12/2009 Mollie landed on Vermont Ave. G2 6 179 6 3/31/2009 Close Rent Revenue G3 179 0 0 Account: Luxury Tax Account # 523 Balance Date Explanation Post Ref. Debit Credit Debit Credit 1 3/12/2009 Luxury Tax G2 75 75 3/31/2009 Close Luxury Tax Expense G2 75 0 0 Account: Rent Expense Account # 535 Balance Date Explanation Post Ref. Debit Credit Debit Credit 1 3/12/2009 landed on Jared's Reading R.R. G2 25 25 2 3/12/2009 landed on Andrew's Oriental Ave. G2 6 31 3 3/12/2009 landed on Jared's electric company G3 40 71
  • 4. 4 3/12/2009 landed on Jared's New York Ave. G3 16 87 3/31/2009 Close Rent Expense G3 87 0 0
  • 5. Mandi Martin's Monopoly Mandi Martin's Monopoly Trial Balance Post-Closing Trial Balance 12-Mar-09 31-Mar-09 Cash 697 Cash 697 Property 1420 Property 1420 M. Martin, Capital 1500 M. Martin, Capital 2117 Passing Go Revenue 600 Totals 2117 2117 Rent Revenue 179 Luxury Tax 75 Rent Expense 87 Totals 2279 2279 Mandi Martin's Monopoly Income Statement For Month Ended March 31, 2009 Revenue: Passing Go Revenue 600 Rent Revenue 179 Total Revenue 779 Expenses: Luxury Tax Expense 75 Rent Expense 87 Total Operating Expenses 162 Total Net Income 617 Mandi Martin's Monopoly Statement of Changes in Owner's Equity For Month Ended March 31, 2009 Beginning Capital Balance 0 Add: Investments (Capital total) 1500 Net Income (from Income Stmt) 617 Total Increase in Capital 2117 Less Withdrawals 0 Ending Capital Balance 2117 Mandi Martin's Monopoly Balance Sheet For Month Ended March 31, 2009 ASSETS Cash 697 Property 1420 Total Assets 2117 LIABILITIES Payables 0 Total Liabilities 0 OWNER'S EQUITY Mandi Martin, Capital (from SCOE) 2117 Total Owner's Equity 2117 Total Liabilities and Owner's Equity 2117