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BAF 3M Monopoly Quest
By Brittany Goldsborough
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Last updated over 1 year ago
25 questions
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Question 1
1.
Who developed the game "Monopoly"?
Milton Bradley
Charles Darrow
The Parker Brothers
The Monopoly Man
Question 2
2.
Name 3 skills you would need to play this game successfully?
Question 3
3.
Explain briefly why this project is called "Accounting Monopoly".
Question 4
4.
How many days do you play the game?
1
2
3
4
Question 5
5.
Question 6
6.
What is the object of the game?
The object of the game of Monopoly Accounting is to rent or sell properties profitably and earn the highest return of Net Income among all students in the group/class.
The object of the game of Monopoly Accounting is to buy, rent or sell properties profitably and earn the lowest return of Net Income among all students in the group/class.
The object of the game of Yahtzee Accounting is to buy, rent or sell properties profitably and earn the highest return of Net Income among all students in the group/class.
The object of the game of Monopoly Accounting is to buy, rent or sell properties profitably and earn the highest return of Net Income among all students in the group/class.
Question 7
7.
Select the absence rules that apply:
Students who are absent for two consecutive days of game play (without parent excuse), automatically forfeit all property holdings back to the bank for other members to purchase in future rounds.
Any day you are absent, your team members will not have to pay rent when they land on your property.
Question 8
8.
Is this the correct denomination of each bill you will receive to start the game?
$1500 consists of:
2 x $500= $1000
2 x $100= $200
2 x $50= $100
6 x $20= $120
5 x $10= $50
5 x $5= $25
5 x $1= $5
True
False
Question 9
9.
On what sheet do you record which property you have purchased?
General Journal
Genearl Journal, Investment Portfolio
General Journal, Ledger, and Investment Portfolio
Question 10
10.
Write an example journal explanation for the following:
You rolled a 7. You landed on Park Place, which you own. You decide to purchase a house at a cost of $200.
Bought a sweet little house for property on Park Place, $200.
Purchased house for property on Park Place, $200.
Purchased house for property, $200.
Purahsed a house for Park Place.
Question 11
11.
Question 12
12.
a. Account #110 belongs to the _______ account.
b. Mortgage payable account number is _______.
c. Account #550 belongs to the _______ account.
d. Gain on Sale of property is account number _______.
Question 13
13.
Select the rules for Journal Entries.
Each role of the dice will result in either no journal entry, one player making an entry, or in two players making an entry.
All journal entries MUST have an explanation.
Question 14
14.
Select the rules for Jail.
By your third roll in jail, you MUST pay $50 to exit and then move the number of spaces rolled with the dice.
You must wear a prison coat for the duration of your visit in jail.
If in jail, you can collect rent and/or sell properties.
To exit, you MUST roll doubles (but can’t move) or pay $50 to Free Parking.
Question 15
15.
Select the rules for Passing Go.
Get $2.
Get $2000.
Get $200.
Question 16
16.
Select the rules for Income Tax.
Pay $2000, not 100% of total worth.
Pay $200, not 10% of total worth.
Question 17
17.
Select the rules for Bankruptcy.
Players cannot borrow money from the bank UNLESS you mortgage a property you own. Mortgage prices are on the back of each card.
Interest is charged from the second you mortgage property and counted using a YouTub timer.
No interest is charged on mortgaged properties.
Question 18
18.
Select the rules for Double Dice.
If you roll a double, you are to roll again (get another turn).
If you roll a double, you must eat a piece of Double Bubble Bubble Gum.
If you roll a double, you must run around the table twice.
Question 19
19.
Select the rules for Free Parking.
All money has to be paid to Free Parking (in the middle) except for property related purchases (i.e. if you buy property). Example: “School tax”, “Doctor’s Fee” and “Poor Tax” go into the middle/Free Parking.
All money has to be paid to Jail (in the middle) except for property related purchases (i.e. if you buy property). Example: “School tax”, “Doctor’s Fee” and “Poor Tax” go into the middle/Free Parking.
Free Parking is $500 to start which comes from the bank.
Question 20
20.
Select the rules for Properties/Land.
Essentially, the rules of Monopoly Accounting mirror those of the regular game of Monopoly,
except that players do not need to own all properties of a given set in order to purchase buildings for them
.
Question 21
21.
Question 22
22.
Question 23
23.
What is the most expensive property?
Park Place
Boardwalk
Mediterranean Ave.
Baltic Ave.
Question 24
24.
What is the leaset expensive property?
St. Charles Place
Mediterranean Ave.
St. James Place
Reading Railroad
Question 25
25.
What kind of information is found in the Investment Portfolio sheet?
The total cost of the property
How much you paid for each hotel.
Select all the kinds of documents you will include in your summative report.
Six-Column Worksheet
Ledger
Daily Cash Count Sheet
General Journal
1 Formal Income Statement
Investment Portfolio Sheet
1 Formal Balance Sheet - Business Owner: Your Name, Monopoly Accounting
Souvenir Hat
Professionally themed Title Page
Trial Balance
Selfie after every day played
Errors Sheet
There are six tasks you must complete at the end of each day. Select all the tasks you must do:
Unfortunately, if Total Debits DO NOT EQUAL Total Credits, you must find your errors before your game play may continue.
You must wear the top hat for at least 5 minutes.
Trial Balance (total Dr = total Cr)
Daily Cash Count Sheet
Your Cash count MUST be the same as the Cash Balance in your Ledger
General Journal
Income Statement
General Ledger (from Journal) with Final Balances
Balance Sheet
If you're in the lead, you must wear a monocle for the next game play day.
Free Parking is $5000 to start which comes from the bank.
Students must pass GO at least once prior to purchasing any property.
You do NOT need to build evenly.
Prices of houses and hotels are stated on the card and MUST be followed. Do not create your own price.
You can sell your property for CASH ONLY. You cannot trade properties.
What are the five types of expense accounts?
410 - Rent Income
420 - "GO" Income
430 - Gain on Sale of Property
440 - "Free Parking" Income
450 - Other Income
510 - Rent Expense
520 - Interest Expense
530 - Tax Expense
540 - Utility Expense
550 - Miscellaneous Expense
560 - Loss on Sale of Property
570 - Cash Short or Over
What are the five types of revenue accounts?
410 - Rent Income
420 - "GO" Income
430 - Gain on Sale of Property
440 - "Free Parking" Income
450 - Other Income
510 - Rent Expense
520 - Interest Expense
530 - Tax Expense
540 - Utility Expense
550 - Miscellaneous Expense
560 - Loss on Sale of Property
570 - Cash Short or Over
How much each property cost.
What property you purchased.
How much you paid for each house.