Dandy Haberdashery Company Manager’s Diary For the Year ended, Month 13, Year 3



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Ethan Wong

Professor Albrecht

ACCT 342

21 November 2013



Dandy Haberdashery Company

Manager’s Diary

For the Year ended, Month 13, Year 3

3/1 - Beginning Cash 1619


Landed on Connecticut avenue, owned by me. Safe Haven!
3/2 -

Car company landed on Water Works, received $16

[1619 + 16 = $1635]
Landed on St. James place, owned by Car company

Paid $14.

[1635 – 14 = 1621]
3/3 -

Landed in Indiana Avenue, owned by Car company. Disappointing.

[1621 – 18 = 1603
3/4 - Received Tax refund from excess of prepaid taxes paid last year

[1603 + 63 = 1666]


Landed on Short Line owned by me, but went again due to doubles. Landed on Community Chest , Passed go [1666+ 200 = 1866] but advanced to go AGAIN, receiving $200 more.
[1866+ 200 = $2066]
3/5 -
Car Company Landed on Connecticut avenue, receiving $8 of rent revenue

[2066+ 8= 2074]


Ship Company landed on Atlantic Avenue, receiving $22 of rent revenue.

[2074 +22 = 2096]


Landed on Community Chest, received another income tax refund of $20

[2096 + 20 = 2116]

D

Went again due to Doubles, landed on St. Charles place, owned by Car Company.



Paid $10.

[2116 – 10 = 2106]

3/6 –
Car Company landed on Pennsylvania Railroad paying me $50 of investment revenue

[2106 + 50 = 2156]


The trade to gain all sky blue properties mentioned from Year one has now come to fruition.

Traded with Dog company. Gave him Tennessee Avenue +and $100 to gain Oriental Avenue, and gained a monopoly of sky blue properties.

[2156 – 100= 2056]
Landed on Tennessee Avenue, owned now by Dog Company. Paid him $14

[2056- 14 = 2042]


Purchased 3 houses for my sky blue properties. [2042- 150 = 1892]

Dog Company landed on Short Line, owned by me [1892 + 50 = 1942]


3/7 -
Landed on Kentucky avenue, owned by Do company. Due to color set, I pay him $36

[1942 – 36 = 1906]


3/8 -
Landed on Illinois avenue, owned by Dog company. Disappointing. Paid $40.

[1906 – 40 = 1866]


Dog company landed on Oriental Avenue, owned by me, received $30!

[1866 + 30 = 1896]


3/9 –
landed on Pennsylvania Avenue,, owned by Car company.

Paid a devastating $150

[1896 – 150 = 1746]
3/10
Landed on Boardwalk which is owned by Ship Company.

Paid $200.

[1756- 200 = 1546]

3/11-
Car company lands on Atlantic, still owed by me, giving me $22

[1546 + 22 = 1568 ]
Ship company lands on Water Works, owned by me, giving me $28

[1568 + 28 = 1596]


Landed on Connecticut Avenue wed by me but received $200 by passing go

[1596 + 200 =1796]


3/12-

Landed on St. James Place, owned by Car company.

Paid him $70.

[1796- 70 = 1726]

3/13 - Landed on Atlantic owned by me. No payment.
Ending Entry for Diary

Year 3, Ended Month 13
Dandy Haberdashery Corporation

Properties Owned

Vermont Avenue

Connecticut Avenue

Oriental


Atlantic Avenue

Short Line

Pennsylvania Railroad

Water Works


Ending Cash: $1726

Ending Location: Atlantic Avenue

Free Parking is $950
Dog : 1696

Ship


Hat 1619

Car 1032



Dandy Haberdashery Corporation

List of Assets

For the Year ended Month 13, Year Three


Cash

$1726

Accounts Receivable

$100

Utilities

Water Works

Investments

Short Line, Pennsylvania Railroad

Land

Oriental Avenue




Connecticut Avenue




Ventor Avenue




Atlantic Avenue

Buildings

$150 (3 x $50)



Dandy Haberdashery Corporation

Computations for Adjusting Entries

For the Year ended Month 13, Year Three
Ending point for accrued revenue: Landed on Atlantic Avenue. Accrue $100 for Salary Revenue

Income Tax: Pretax Income: $205

200 x .1 (10% of first thousand)= $20.

5 x .2 (20% of second thousand) = $1

$20 + $1 = $21

Income tax payable = $21
Depreciation Expense: Three buildings worth $50 each .

$50 (Price) – $25 (Salvage Value) ÷ 50 years of life = $0.50 a month.



$0.50 x 6 months (erected month 7) x 3 buildings = $9 for Depreciation Expense

Dandy Haberdashery Corporation

Cash Memo

For the Year ended Month 13, Year Three

Company

Player

Amount

Car

Emu




Hat (Dandy Haberdashery)

Ethan Wong

$1726

Dog

Scott Espanola




Ship

Michael Uruma




Free Parking:




$900


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