Accounting Monopoly

Instructions

To play Accounting Monopoly, you will need the following:

A Monopoly Game with enough pieces for all players, though if you have a large class, I would recommend having teams no larger than 4 players per game board.
One envelope for each student playing. Each player will store his/her money and Monopoly cards in this envelope and leave it in the room each day.
One folder for each student playing. In this folder, each student will need scrap paper for jotting down transactions, journal pages, forms for proving cash, general ledger pages, income statement form, post closing trial balance form, and balance sheet forms. Additionally, students should keep their instructions and chart of accounts in the folder for easy retrieval. (Get these forms from the student's Accounting workbook; make enough copies for each student to have several)

How to Play:

On the first day of play, students will need to distribute cash and record this on their transaction sheet. Students must make one full spin around the board before they may purchase property. Any time money changes hand, students must record the transaction from both ends on their sheet. Run through these example transactions on the first day to show students how to play.
Allow time each day at the beginning or end of class for students to make journal entries and prove cash. This should be done EVERY day. Though I didn't have block scheduling, it would make it much easier for this game.
If students are over or short on cash each day, they must record this in their transaction log. Information on how to use the account "Cash Short and Over" can be found by clicking here.
Be sure to give students class time to journalize and post entries. This can be time consuming if you wait until the very end.