Question

These are a list of the transactions I have from playing Monopoly. I need to create a balance sheet, income statement, and cash flow.

STOCK- Issued $1500 common stock

LAND/STOCK- $600 issued for purchase of Land

1 RENT REVENUE- $16.00 From New York Ave

2 CONSULTING REV(ACCTS REC.) - Collected $200 for passing Go

3 LAND - Purchase Kentucky Ave $220.00

4 RENT EXPENSE - $200.00 for landing on Railroad

5 CONSULTING REV(ACCTS REC.) - Collected $200 for passing Go

6 DIVIDENDS - Paid $200 to bank for landing on Income Tax

7 RENT REVENUE - $2.00 from Mediterranean Ave.

8 UTILITIES - Purchase Electric Company $150.00

9 INVESTMENT INCOME - Earned $20.00 from Electric Company

10 RENT EXPENSE - $26.00 for landing on Pacific Ave.

11 RENT REVENUE - $16.00 from New York Ave.

12 DIVIDENDS - Paid $75.00 for Luxury Tax

13 CONSULTING REVENUE - $200.00 For Passing Go

14 LAND - Purchased Oriental Ave. for $100.00

15 RENT REVENUE - Movie Company to use property as set, collected $200.00

16 LAND - Purchased Atlantic Ave. for $200.00

17 LAND - Purchased Indiana Ave. for $200.00

18 BUILDINGS - Purchased a house for Kentucky Ave. For $150.00 19 DIVIDENDS - Paid $75.00 for Luxury Tax

20 CONSULTING REVENUE - $200.00 For Passing Go

21 TRAVEL EXPENSE - Paid $100 for landing on Pacific Railroad

22 RENT REVENUE - $40 from Illinois Ave.

23 BUILDINGS - Purchased a house for Indiana Ave. For $150.00

24 RENT EXPENSE - Paid $12.00 from landing on Virginia Ave.

25 RENT EXPENSE - Paid $14.00 for landing on St. James Place

26 RENT REVENUE - Earned $10 from States Ave.

27 RENT EXPENSE - Paid $56.00 for landing on Pennsylvania Ave.

28 RENT REVENUE - Earned $90 from Kentucky Ave.

29 CONSULTING REVENUE - $200.00 For Passing Go

30 TRAVEL EXPENSE - Paid $100 for landing on Pacific Railroad

31 RENT REVENUE - Earned $90.00 from Indiana Ave.

32 RENT EXPENSE - Paid $56.00 for landing on Pennsylvania Ave.

33 DIVIDENDS - Paid $75.00 for Luxury Tax

34 FINE EXP - Paid $50.00 Fee to get out of Jail

Answer 1

Income Statement
Particulars	$	$
Revenue
Rent Revenue	464		=16+2+16+200+40+10+90+90
Consulting Revenue	1000		=200+200+200+200+200
Investment Income	20
Total Revenue		1484
Expenses
Rent Expense	364		=200+26+12+14+56+56
Dividends	425		=200+75+75+75
Travel Expense	200		=100+100
Fine Expense	50
Total Expenses		1039
Net Income		445

Balance Sheet
Assets	$	$
Non-Current Assets:
Land	720		=220+100+200+200
Building	300		=150+150
Investment in Electric Company	150	1170
Current Assets:
Cash	1375	1375	=1500+600+16+200-220-200+200-200+2-150+20-26+16-75+200-100+200-200-200-150-75+200-100+40-150-12-14+10-56+90+200-100+90-56-75-50
Total Assets		2545
Equity & Liabilities	$	$
Common Stock	2100		=1500+600
Retained Earnings	445	2545
Total Equity		2545
Liabilities:
Current Liabilities:		0
Total Equity & Liabilities		2545

Cash Flow
Cashflow from Operating Activities:	$	$
Net Income	445
-Investment Income	-20	425
Cashflow from Investing Activities:	$	$
Purchase of Land	-720
Purchase of Building	-300
Investment in Electric Company	-150
Investment Income	20	-1150
Cashflow from Financing Activities:	$	$
Issue of Common Stock	2100	2100
Net Cashflow		1375
+Opening Cash Balance		0
Closing Cash Balance		1375