Received $1,500 cash in exchange for common stock Purchased Marvin Gardens for $
ID: 2334317 • Letter: R
Question
Received $1,500 cash in exchange for common stock Purchased Marvin Gardens for $280 cash PurchasedPark Place for S350 This purchase was done 50% n cash and 50% on acount credit Purchased North Carolina Avenue for $300 cash. - lead back the amount owed from the purchase on account in transaction #3 Passed Go and Collected $200 Received $35 rent payment for Park Place 8 Paid $18 rent payment for Indiana Avenue, which is owned by Boss Moss In 9 Purchased St Charies Place for $140 on account/credit and Passed Go (ollected $2 10 Mortgaged St. Charies Place and received $100 from the bank as well as paid a $600 rent payment for Connecticut Avenue 11 Received $100 cash due to Holiday Fund Maturing. Your Company has classified this as miscellaneous revenue 12 Received $2,000 cash in exchange for common stock and spent $400 purchasing Boardwalk 13 Passed Go (collected $200) and Paid $1,000 on account/credit for houses on Boardwalk and Park Place 14 Paid a $200 Luxury Tax and paid $100 in repairs to your house on Park Place 15 Sold North Carolina Avenue for $350 on account/credit (hint -reed instruction/activity rules on outright sale to another 16 You have decided to exchanged Marvin Gardens (cost you $280) for Boss Moss Inc.'s New York Avenue (cost to was Boss Moss $200), (hint -read instruction/activity rules on exchanges with another player) Received $50 rent payment for New York Avenue and Passed Go (Collected $200) 18 19 Paid a $25 speeding fine in cash 20 Paid $750 rent payment for Baltic Avenue 21 Landed on Chance-Went to Jail and Paid $1,000 fine 22 Purchased Tennessee Avenue for $150 on account/credit 23 Paid back the mortgage payable from transaction #10 Collected the amount owed to you from transaction #15 24 Received $2,500 cash rent payment for Boardwalk 25 Received $1,500 rent payment for Park Place on account/credit 26 Paid $300 to local charity. You classified this as a miscellaneous expense Paid $200 for Reading Railroad 27 28 9 On October 31,2017, you prepaid $1,500 cash to cover rent on various propertes for the period Nov 1,2017. Jan. 1,2018 (3 months) 30 On October 31,2017 you received advanced rent payments of $6,000 Paid $200 for Waterworks Utility cash to cover tenants rent forperiod Nov. 1,2017. Jan. 1,2018(3 motExplanation / Answer
ASSETS LIABILITIES EQUITY Income Statement Remark Cash A/R Invest Build P.Rent M/P A/P F/P T/P URR CS RE Revenue Gain/Expense Loss Classification Assmed Tennessee Avenue is a building 22 $150 $150 23 ($100) ($100) 24 $2,500 $2,500 $2,500 Rental income 25 $1,500 $1,500 $1,500 Rental income 26 ($300) ($300) ($300) Misc.expense Assuming Reading Railroad is a building 27 ($200) $200 28 ($200) ($200) ($200) Utilities expense 29 ($1,500) $1,500 30 $6,000 $6,000 URR Unearned Revenue
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