Each of the following should be presented as a separate page (or worksheet) in the Excel...

  

 

 

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Each of the following should be presented as a separate "page" (or worksheet) in the Excel workbook. • A cover page. The cover page should be the first sheet of your project. It should include your name, the name of your company (if different), and the name of the other members of your group. Also list on this page the amount of cash on hand when you ended the game as well as the place your token ended on. (It is not necessary to include the name of the other members of your group if you are playing individually per my instructions). • The general journal (example provided in Illustration 3-7 of the text). 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 (example provided in Illustration 3-8). Set up the general ledger using the chart of accounts I've provided. Post all transactions to the general ledger. An unadjusted trial balance (example provided in Illustration 3-20). Year-end adjusting entries. . An adjusted trial balance (example provided in Illustration 3-35). • Year-end financial statements including a multi-step income statement (Illustration 4-2), and a classified balance sheet (Illustration 5-16) and a Statement of Retained Earnings (Illustration 3-36). (See note under Project Format.) Closing entries. (Please use the Income Summary method of closing accounts, Illustration 3-38) A post-closing trial balance (example, Illustration 3-40). Reversing entries, where appropriate (Chapter 3, Appendix 3B). . . . Please do not use a worksheet format. Instead, present the trial balances and adjusting entries on individual sheets. The sheets must be in order of the accounting cycle. All journal entries should be dated by turn. One of the main purposes of this project is to show me that you understand the accounting processing cycle. Therefore, make sure everything is in proper order. Additionally, beginning with the unadjusted trial balance, each sheet should be connected by a formula—again illustrating your knowledge of the accounting processing cycle as well as your understanding of the relationships between the data. Please use formulas on each individual sheet as well; for example, to calculated subtotals on the income statement and balance sheet. 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 15 free 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 Pay $100 tax Ending balance $38 CASH Each of the following should be presented as a separate "page" (or worksheet) in the Excel workbook. • A cover page. The cover page should be the first sheet of your project. It should include your name, the name of your company (if different), and the name of the other members of your group. Also list on this page the amount of cash on hand when you ended the game as well as the place your token ended on. (It is not necessary to include the name of the other members of your group if you are playing individually per my instructions). • The general journal (example provided in Illustration 3-7 of the text). 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 (example provided in Illustration 3-8). Set up the general ledger using the chart of accounts I've provided. Post all transactions to the general ledger. An unadjusted trial balance (example provided in Illustration 3-20). Year-end adjusting entries. . An adjusted trial balance (example provided in Illustration 3-35). • Year-end financial statements including a multi-step income statement (Illustration 4-2), and a classified balance sheet (Illustration 5-16) and a Statement of Retained Earnings (Illustration 3-36). (See note under Project Format.) Closing entries. (Please use the Income Summary method of closing accounts, Illustration 3-38) A post-closing trial balance (example, Illustration 3-40). Reversing entries, where appropriate (Chapter 3, Appendix 3B). . . . Please do not use a worksheet format. Instead, present the trial balances and adjusting entries on individual sheets. The sheets must be in order of the accounting cycle. All journal entries should be dated by turn. One of the main purposes of this project is to show me that you understand the accounting processing cycle. Therefore, make sure everything is in proper order. Additionally, beginning with the unadjusted trial balance, each sheet should be connected by a formula—again illustrating your knowledge of the accounting processing cycle as well as your understanding of the relationships between the data. Please use formulas on each individual sheet as well; for example, to calculated subtotals on the income statement and balance sheet. 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 15 free 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 Pay $100 tax Ending balance $38 CASH

Answer rating: 100% (QA)

Cover Page Name Company Name if different Group Members Cash on Hand when Ended Token Ended On General Journal The general journal is a record of all transactions that occur during the game Each journ... View the full answer