Group 1 Monopoly

1
University of Southeastern Philippines

Iñigo St. Obrero, Davao City
FM 227: Banking and Financial Institutions
Monopoly
Accounting Process
Barao, Frecy Mae H

Calamba, Shaina J.
Epa, Cherry Jayne D.
Padillo, Flory Mae T.
Usman, Jorhaina N.
BSBA 2B
College of Business Administration
Submitted to
Mr. Eugene M. Bije, DBA
May 31, 2024

2
TABLE OF CONTENTS
I. Cash Receipts……………………………………………………………………….. 3
II. Cash Disbursements………………………………………………………………… 5
III. General Journal……………………………………………………………………… 7
IV. General Ledger………………………………………………………………………. 15
V. Trial Balance…………………………………………………………………………. 16
VI. Adjusting Entries…………………………………………………………………….. 17
VII. Adjusted Ledger……………………………………………………………………… 18
VIII. Adjusted Trial Balance……………………………………………………………. 19
IX. Income Statement…………………………………………………………………… 20
X. Balance Sheet……………………………………………………………………….. 21
XI. Closing Entries……………………………………………………………………….. 23
XII. Post-Closing Entries………………………………………………………………… 25
XIII. Recommendations………………………………………………………………… 26
3
I. CASH RECEIPTS
GAME 1 (MAY)
DATE DESCRIPTION AMOUNT

1-MAY Beginning Balance $ 1,500.00
1-MAY Rent Revenue - Undeveloped Property $ 6.00
3-MAY Miscellaneous Revenue $ 40.00
5-MAY Pass Go Revenue $ 200.00
11-MAY Investment Revenue - Utilities $ 28.00
TOTAL $ 2,734.00
4
GAME 2 (JUNE)

1-JUN Beginning Balance $ 1,500.00
1-JUN Pass Go Revenue $ 200.00
1-JUN Miscellaneous Revenue $ 50.00
3-JUN Consulting Revenue $ 25.00
9-JUN Rent Revenue - Undeveloped Property $ 50.00
TOTAL $ 2,591.00
5
II. Cash Disbursements
GAME 1 (MAY)

1-MAY Real Estate Investment $ 100.00
3-MAY Fines and Penalties Expense $ 50.00
5-MAY Rent Expense $ 16.00
9-MAY Income Tax Expense $ 100.00
14-MAY Fines and Penalties $ 50.00
19-MAY Fines and Penalties $ 50.00
TOTAL $ 1,842.00
6
GAME 2 (JUNE)

3-JUN Rent Expense $ 6.00
3-JUN Miscellaneous Expense $ 50.00
5-JUN Real Estate Investment $ 200.00
7-JUN Income Tax Expense $ 200.00
7-JUN Real Estate Invesment $ 140.00
15-JUN Fines and Penalties $ 50.00
17-JUN Fines and Penalties $ 50.00
19-JUN Utilities Expense $ 150.00
21-JUN Utilities Expense $ 24.00
TOTAL $ 2,609.00
7
III. GENERAL JOURNAL

GAME 1 (MAY)
GENERAL JOURNAL
DATE Particulars (Account Titles and Explanation) Debit Credit
1- Cash $ 1,500.00
MAY
Group 1, Capital $ 1,500.00
To record beginning balance
Real Estate Investment $ 100.00

Cash $ 100.00
To record purchase of Angel Islington property
Cash $ 6.00
Rent Revenue - Undeveloped Property $ 6.00
To record Rent Revenue from Angel Islington
3- Real Estate Investment $ 220.00

MAY
Cash $ 220.00
To record purchase of Strand property
Cash $ 40.00
Miscellaneous Revenue $ 40.00
To record birthday gift
Fines and Penalties Expense $ 50.00

Cash $ 50.00
To record Bail for Jail
5- Cash $ 200.00
MAY
Pass Go Revenue $ 200.00
To record GO Bonus
Rent Expense $ 16.00

Cash $ 16.00
To record rent expense for Vine St.
Cash $ 18.00
To record rent revenue from Strand
7- Real Estate Investment $ 150.00

MAY
Cash $ 150.00
8
To record purchase of Water Works property
Cash $ 18.00

Cash $ 26.00
To record rent expense to Oxford
9- Cash $ 18.00
MAY
Income Tax Expense $ 100.00

Cash $ 100.00
To record tax payment
Cash $ 18.00
11- Income Tax Expense $ 200.00

MAY
Cash $ 200.00
To record tax payment
Cash $ 28.00
Investment Revenue - Utilities $ 28.00
To record revenue from Water Works

Cash $ 26.00

Cash $ 25.00
To record rent expense for Station
12- Cash $ 200.00

MAY
To record GO Bonus

Cash $ 260.00
9
To record purchase of Coventry St. property
Cash $ 28.00
14- Rent Expense $ 16.00

MAY
Cash $ 16.00
To record rent expense to Bond Street
Cash $ 6.00
To record revenue from Angel Islington
Fines and Penalties $ 50.00

Cash $ 50.00
15- Cash $ 100.00

MAY
To record revenue from won lawsuit

Cash $ 16.00
To record rent expense to Vine St.

Cash $ 20.00
To record rent expense to Trafalgar Square
Cash $ 28.00

MAY
Cash $ 25.00
To record rent expense to King's Cross Station
Cash $ 200.00
To record GO Bonus

Cash $ 160.00
10
To record purchase of Northumberland Avenue
19- Cash $ 18.00

MAY

Cash $ 50.00
Cash $ 28.00
To record rent revenue from Coventry St.

MAY
Cash $ 20.00
To record rent expense to Trafalgar Square
Cash $ 200.00
To record GO Bonus

Cash $ 26.00
Cash $ 18.00

MAY
Cash $ 26.00
To record rent expense to Regent St.
Cash $ 50.00
To record Chairman Bonus

Cash $ 60.00
To record purchase of Old Kent Road Property
25- Cash $ 12.00

MAY
11

To record revenue from Northumberland Ave.

MAY
Cash $ 200.00
To record payment of Tax
$ 4,576.00 $ 4,576.00
GAME 2 (JUNE)
GENERAL JOURNAL
1-JUN Cash $ 1,500.00
To record beginning balance
Cash $ 200.00
To record GO Bonus
Cash $ 50.00
To record chairman bonus

Cash $ 6.00
To record rent expense for Angel Islington
Miscellaneous Expense $ 50.00

Cash $ 50.00
To record school fees
Cash $ 25.00
Consulting Revenue $ 25.00
To record consultant fee

Cash $ 22.00
To record rent expense for Leicester

Cash $ 200.00
To record purchase of Liverpool Station
12

Cash $ 35.00
To record rent expense for Park Lane
Cash $ 200.00
To record Go revenue

Cash $ 200.00
To record payment of income tax

Cash $ 140.00
To record purchase of White Hall

Cash $ 220.00
To record purchase of Fenchurch from bidding
9-JUN Cash $ 50.00

To record revenue from Fenchurch
Cash $ 10.00
To record revenue from White Hall
Cash $ 100.00
To record revenue from won lawsuit

JUN
Cash $ 24.00
To record rent expense for Piccadilly

Cash $ 100.00
To record payment of super Tax

Cash $ 200.00
To record payment of income tax
13- Cash $ 10.00

JUN
13

To record revenue from community chest

Cash $ 120.00
To record purchase of Pentoville

Cash $ 18.00
To record rent expense for Strand
15- Cash $ 8.00

JUN
To record revenue from Pentoville

Cash $ 50.00
To record bail

Cash $ 200.00
To record rent expense to Malborough
17- Cash $ 50.00

JUN
To record revenue from Liverpool

Cash $ 50.00
To record bail

Cash $ 44.00
To record rent expense with color set
19- Cash $ 200.00

JUN
To record Go revenue
Utilities Expense $ 150.00

Cash $ 150.00
To record payment to Water Works
Cash $ 8.00
14

To record revenue from Pentoville

JUN
Cash $ 100.00
To record payment of Super Tax
Rent Expense $ 6.00

Cash $ 6.00
To record rent expense for Angel Islington

Cash $ 24.00
To record payment for Electric Company
23- Cash $ 50.00

JUN
To record revenue from Fenchurch

Cash $ 550.00
To record rent expense for Malborough
Cash $ 70.00
To record revenue from White Hall
Cash $ 60.00
To record revenue from Pentonville
24- Cash $ 110.00

JUN
Mortgage Payable $ 110.00
To record mortgage of Fenchurch

Cash $ 100.00
To record payment for super tax
$ 5,310.00 $ 5,310.00
15
IV. GENERAL LEDGER

GAME 1 (MAY)
Total Total Ending

Account Title Increases Decreases Balance NB
Cash $ 2,734.00 $ 1,842.00 $ 892.00 DR
Group 1, Capital $ 1,500.00 $ 1,500.00 CR
Rent Revenue - Undeveloped
Property $ 160.00 $ 160.00 CR
Miscellaneous Revenue $ 190.00 $ 190.00 CR
Pass Go Revenue $ 800.00 $ 800.00 CR
Investment Revenue - Utilities $ 84.00 $ 84.00 CR
Real Estate Investment $ 950.00 $ 950.00 DR
Fines and Penalties Expense $ 150.00 $ 150.00 DR
Rent Expense $ 242.00 $ 242.00 DR
Income Tax Expense $ 500.00 $ 500.00 DR
GAME 2 (JUNE)
Total Ending
Account Title Total Increases Decreases Balance NB
Cash $ 2,701.00 $ 2,609.00 $ 92.00 DR
Mortgage Payable $ 110.00 $ 110.00 CR
Group 1, Capital $ 1,500.00 $ 1,500.00 CR
Pass Go Revenue $ 600.00 $ 600.00 CR
Consulting Revenue $ 25.00 $ 25.00 CR
Rent Revenue - Undeveloped Property $ 306.00 $ 306.00 CR
Rent Expense $ 905.00 $ 905.00 DR
Miscellaneous Expense $ 50.00 $ 50.00 DR
Income Tax Expense $ 700.00 $ 700.00 DR
Fines and Penalties $ 100.00 $ 100.00 DR
Utilities Expense $ 174.00 $ 174.00 DR
16
V. TRIAL BALANCE
GAME 1 (MAY)
Monopoly Group 1
Unadjusted Trial Balance
For the month ended May 31, 2024
Account Title Debit Credit
Cash $ 892.00
Totals $ 2,734.00 $ 2,734.00
GAME 2 (JUNE)
Monopoly Group 1
Unadjusted Trial Balance
For the month ended June 31, 2024
Cash $ 92.00
Totals $ 2,701.00 $ 2,701.00
17
VI. ADJUSTING ENTRIES

GAME 1 (MAY)
GENERAL JOURNAL
31- Cash $ 200.00
MAY
To record accrual of revenue
Property Tax Expense $

1.58
Property Taxes Payable $
1.58
To record accrued property taxes payable

Cash $
73.40
To record accrued income taxes
Utilities Expense 467.02

Utilities Expense Payable 467.02
To record accrued utilities expense payable
GAME 2 (JUNE)
GENERAL JOURNAL
JUN- Cash 150
31
Pass Go Revenue 150
To record accrual of revenue
Utilities Expense 1.8

Utilities Expense Payable 1.8
To record accrued utilities expense
Property Tax Expense 1.133333

Property Taxes Payable 1.133333
To record accrued property taxes
Income Tax Expense 189.1

Cash 189.1
To record accrued income taxes
Accounts Receivables 880.03

Rent Revenue - Undeveloped Property 880.03
18
VII. ADJUSTED LEGER

GAME 1 (MAY)
Balance
Balance After
before
Account Title Adjustments Adjusting
Adjusting
Entries
Entries NB
Cash $ 892.00 $ 126.60 $ 1,018.60 DR
Property Taxes Payable $ 1.58 $ 1.58 CR
Utilities Expense Payable $ 467.02 $ 467.02 CR
Group 1, Capital $ 1,500.00 $ 1,500.00 CR
Rent Revenue - Undeveloped Property $ 160.00 $ 160.00 CR
Pass Go Revenue $ 800.00 200 $ 1,000.00 CR
Investment Revenue - Utilities $ 84.00 $ 84.00 CR
Fines and Penalties Expense $ 150.00 $ 150.00 DR
Rent Expense $ 242.00 $ 242.00 DR
Income Tax Expense $ 500.00 $ 73.40 $ 573.40 DR
Property Tax Expense $ 1.58 $ 1.58 DR
Utilities Expense $ 467.02 $ 467.02 DR
GAME 2 (JUNE)
Balance before Balance After

Account Title Adjusting Adjustments Adjusting
Entries Entries NB
Cash $ 92.00 -39.1 $ 52.90 DR
Accounts Receivables 880.03 $ 880.03
Mortgage Payable $ 110.00 $ 110.00 CR
Utilities Expense Payable 1.8 $ 1.80 CR
Property Taxes Payable 1.133333333 $ 1.13 CR
Group 1, Capital $ 1,500.00 $ 1,500.00 CR
Pass Go Revenue $ 600.00 150 $ 750.00 CR
Consulting Revenue $ 25.00 $ 25.00 CR
Rent Revenue - Undeveloped Property $ 306.00 880.03 $ 1,186.03 CR
Rent Expense $ 905.00 $ 905.00 DR
Miscellaneous Expense $ 50.00 $ 50.00 DR
Income Tax Expense $ 700.00 189.1 $ 889.10 DR
Fines and Penalties $ 100.00 $ 100.00 DR
Utilities Expense $ 174.00 1.8 $ 175.80 DR
Property Tax Expense 1.133333333 $ 1.13 DR
19
VIII. ADJUSTED TRIAL BALANCE

GAME 1 (MAY)
Monopoly Group 1
Adjusted Trial Balance
Cash $ 1,018.60
Property Taxes Payable $ 1.58
Utilities Expense Payable $ 467.02
Pass Go Revenue $ 1,000.00
Property Tax Expense $ 1.58
Totals $ 3,402.60 $ 3,402.60
GAME 2 (JUNE)
Monopoly Group 1
Adjusted Trial Balance
For the month ended June 31, 2024
Cash $ 52.90
Accounts Receivables $ 880.03
Rent Revenue - Undeveloped Property $ 1,186.03
Totals $ 3,733.96 $ 3,733.96
20
IX. INCOME STATEMENT

GAME 1 (MAY)
Monopoly Group 1
Income Statement
For the month ended May 2024
Revenues
Rent Revenue - Undeveloped $ 160.00
Property
Investment Revenue - Utilities $ 84.00 $ 1,434.00
Expenses
Utilities Expense $ 467.02 $ 2,384.00
Net Income/loss $ (950.00)
GAME 2 (JUNE)
Monopoly Group 1
Income Statement
For the month ended June 2024
Revenues
Rent Revenue - Undeveloped Property $ 1,186.03 $ 2,121.03
Expenses
Property Tax Expense $ 1.13 $ 2,801.03
Net Income/loss $ (680.00)
21
X. BALANCE SHEET
GAME 1 (MAY)
Monopoly Group 1
Financial Position
For the month ended May 2024
ASSETS
Current Asset
Cash $ 1,018.60
Total Current Asset $ 1,018.60
Non-current Asset
Land $ 800.00
Investment-Utilities $ 150.00
Total Assets $ 1,968.60
LIABILITY AND OWNER'S EQUITY

Current Liability
Owner's Equity
Total Liability and Owner's Equity $ 1,968.60
22
GAME 2 (JUNE)
Monopoly Group 1
Financial Position
For the month ended June 2024
ASSETS
Current Asset
Cash $ 52.90
Total Current Asset $ 932.93
Non-current Asset $ 680.00

Land $ 1,612.93
Total Assets
LIABILITY AND OWNER'S EQUITY

Current Liability
Owner's Equity
Total Liability and Owner's Equity $ 1,612.93
23
XI. CLOSING ENTRIES

GAME 1 (MAY)
GENERAL JOURNAL
DATE Particulars (Account Titles and Debit Credit
Explanation)
Income Summary $ 1,434.00
To close revenue accounts

To close expense accounts
Income Summary $ (950.00)

Group 1, Capital $ (950.00)
To close net loss
GAME 2 (JUNE)
GENERAL JOURNAL
DATE Particulars (Account Titles and Debit Credit
Explanation)
6/31/2024 Pass Go Revenue $ 750.00
Rent Revenue - Undeveloped Property $ 1,186.03
To close revenue accounts

24
To close expense accounts
Income Summary $ (680.00)

Group 1, Capital $ (680.00)
To close net loss
25
XII. POST-CLOSING TRIAL BALANCE

GAME 1 (MAY)
Monopoly Group 1
Post-Closing Trial Balance
Cash $ 1,018.60
Group 1, Capital $ 550.00
Totals $ 1,018.60 $ 1,018.60
GAME 2 (JUNE)
Monopoly Group 1
Post-Closing Trial Balance
Cash $ 52.90
Group 1, Capital $ 820.00
Total $ 932.93 $ 932.93
26
XIII. RECOMMENDATIONS
Monopoly is a game that integrates strategy, negotiation, and financial management.

During our second game, we ended up with fewer properties compared to our first game
because we rolled the dice last. This left us with fewer available properties to purchase
and forced us to pay more rent to other players, resulting in a lower cash balance. Based
on this experience, we would like to share our insights on how to enhance the gameplay
experience and increase the chances of winning for future players.
They should prioritize early property acquisition where in the initial stages of the game,
they should acquire as many properties as possible. This will increase their potential to
form monopolies and generate rental income. They should also focus on acquiring the
Orange and Red properties, as these are landed on more frequently due to their position
on the board relative to the Jail.
They should develop monopolies and optimize building strategies. They should aim to
complete color groups to enable property development. Forming a monopoly allows you
to build houses and hotels, significantly boosting your rental income. Consider also
investing in building up to three houses on each property within your monopolies. This
level of development offers the highest return on investment before the cost of a fourth
house or hotel.
Players should also know the effective cash flow management. They should always
keep sufficient cash reserves to cover potential rent payments and avoid bankruptcy.
Player can also consider mortgaging properties that do not contribute to a monopoly or
generate significant income. This will provide you with the necessary cash flow without
significantly hampering your long-term strategy.
They should also engage in strategic trading to complete monopoles. Ensure that
trades benefit you without excessively empowering your opponents. Players can also
consider proposing trades that offer tangible benefits to both parties. This increases the
likelihood of acceptance and helps maintain balance in the game.
Players should recognize the value of high-rent properties such as Boardwalk and Park
Place and balance these with properties that have moderate rent but higher landing
frequency can optimize your income. Players should also acquire all four railroads or both
utilities as these can provide a steady income stream, especially when held in conjunction.
By adhering to these recommendations based on what we have learned on our
Monopoly journey, players can enhance their strategic gameplay, increase their chances
of winning, and ensure a more enjoyable and engaging experience in Monopoly.

Group 1 Monopoly

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1

University of Southeastern Philippines

FM 227: Banking and Financial Institutions

Barao, Frecy Mae H

May 31, 2024

II. Cash Disbursements………………………………………………………………… 5

III. General Journal……………………………………………………………………… 7

IV. General Ledger………………………………………………………………………. 15

VI. Adjusting Entries…………………………………………………………………….. 17

VII. Adjusted Ledger……………………………………………………………………… 18

VIII. Adjusted Trial Balance……………………………………………………………. 19

IX. Income Statement…………………………………………………………………… 20

XI. Closing Entries……………………………………………………………………….. 23

XII. Post-Closing Entries………………………………………………………………… 25

DATE DESCRIPTION AMOUNT

DATE DESCRIPTION AMOUNT

II. Cash Disbursements

DATE DESCRIPTION AMOUNT

DATE DESCRIPTION AMOUNT

III. GENERAL JOURNAL

Real Estate Investment $ 100.00

3- Real Estate Investment $ 220.00

Fines and Penalties Expense $ 50.00

Rent Expense $ 16.00

7- Real Estate Investment $ 150.00

To record purchase of Water Works property

Rent Expense $ 26.00

Income Tax Expense $ 100.00

11- Income Tax Expense $ 200.00

Rent Expense $ 26.00

Rent Expense $ 25.00

12- Cash $ 200.00

Real Estate Investment $ 260.00

To record purchase of Coventry St. property

14- Rent Expense $ 16.00

Fines and Penalties $ 50.00

15- Cash $ 100.00

Rent Expense $ 16.00

Rent Expense $ 20.00

17- Rent Expense $ 25.00

Real Estate Investment $ 160.00

To record purchase of Northumberland Avenue

19- Cash $ 18.00

Fines and Penalties $ 50.00

21- Rent Expense $ 20.00

Rent Expense $ 26.00

23- Rent Expense $ 26.00

Real Estate Investment $ 60.00

25- Cash $ 12.00

Rent Revenue - Undeveloped Property $ 12.00

27- Income Tax Expense $ 200.00

3-JUN Rent Expense $ 6.00

Miscellaneous Expense $ 50.00

5-JUN Rent Expense $ 22.00

Real Estate Investment $ 200.00

Rent Expense $ 35.00

7-JUN Income Tax Expense $ 200.00

Real Estate Investment $ 140.00

Real Estate Investment $ 220.00

9-JUN Cash $ 50.00

11- Rent Expense $ 24.00

Income Tax Expense $ 100.00

Income Tax Expense $ 200.00

13- Cash $ 10.00