BACC1AMD Accounting for Management Decisions

Question 1 (2 marks)

This is an individual assignment, but you are required to play the board game “Monopoly” in class with other students. Some board games will be available for your use during class time.
You are all required to play the game until the last player has passed GO twice. Please refer to the additional instructions below.
Submission requirements for question 1

• Whilst playing the game you are required to keep a detailed log of all your moves/turns. See sample - appendix 1.
• On completion of the game you will prepare your own chart of accounts. See sample - appendix 2
• Prepare Journal entries for each of your moves/turns. See sample – appendix 3.
  
• Post Journal entries to Ledger Accounts. See sample - appendix 4.
  
• Prepare a Trial Balance - See sample - appendix 5.
  
• Prepare an Income Statement/ Statement of Profit or Loss for the day.
  
• Prepare a Balance Sheet/Statement of Financial Position at the end of the day.