Students will play a game of Monolopoly and then prepare, analyze and interpret financial Statements.
To obtain all necessary materials for this unit, go to http://www.lymansite.net/Acct/RealEstateGame/indexRealEstateGame.htm
- Students will work as a team to collaboratively to play a real estate board game like Monopoly™.
- Students will generate their own accounting problems as they play the real estate board game using checks and receipts instead of cash.
- Students will analyze the transactions from their source documents into their debit and credit parts, journalize the transaction, and post the entries to the ledgers.
- Students will prepare a trial balance, six-column worksheet, and compute the net income or loss.
- Students will prepare an income statement and a balance sheet.
- Students will analyze the financial statements, the playing of the game, and compose a multiple page an annual report using web page creation software.
- Students will create a brochure exploring a career that uses accounting and what a person needs to do to prepare for that career.
- Students will reflect on their abilities, skills, and goals then prepare a multimedia presentation exploring where they want to go in life.
The student will:
- Play an accounting real estate game like Monopoly™ in groups of 3 or 4 using checks and receipts instead of money.
- Record journal entries for all transactions generated playing real estate board game.
- Post entries to the General Ledger.
- Create a trial balance and worksheet from the ledger. (May be done on a spreadsheet.)
- Create financial statements: Income Statement and Balance Sheet on a spreadsheet.
- Analyze the financial statements and use them to compose an annual report to be published as web pages.
- Prepare a brochure about a possible career that uses accounting.
- Reflect on personal skills and abilities then create a multimedia presentation about their goals and possible careers that use accounting.