Is anyone able to help and guide me through this assignment I was out of school sick and do not understand it at all?
SCOTS FEDERAL CREDIT UNION Statement of Account Account Number 8900-14-124-106 Statement Date December 31,20XX BALANCE THIS STATEMENT Checks and Other Deposits and Debits BALANCE LAST STATEMENT Other Credits No. Total No. Total $22,866.00 12 $18,607.00 5 $48,762.00 $53,021.00 Date 12/1/20XX 12/3/20XX Check #150 12/7/200 Check #151 12/9/200. Check #154 12/12/20XX Check #152 12/16/20XX Check #153 12/17/20XX Check #155 12/18/20XX Check #156 12/19/20X Check #157 12/20/20XX Check #158 12/24/20XX 12/28/20XX Check #160 12/31/20X2X Checks Cleared Deposits Made Other Transactios Daily Balance $22,866.00 $32,386.00 30,086.00 $28,836.00 $40,136.00 $39,136.00 S36,136.00 $50,636.00 $49,436.00 $48,174.00 $59,436.00 $53,021.00 $480.00 $10,000.00 $2,300.00 $1,250.00 $1,200.00 $12,500.00 $1,000.00 $3,000.00 $500.00$15,000.00 $1,200.00 $1,000.00 NSF check (S 262) EFT deposit $1,000 Service Charge ( 15) $10,262.00 69 Project #11: Bank Reconciliation Fido's Food Mart-TAccount CASH BB12/1/20xx $22,866.00 480.00 $2,300.00 $1,200.00 $1,000.00 $1,250.00 $3,000.00 8500.00 $1,200.00 $1,000.00 $600.00 $6,400.00 $1,100.00 Check #150 Check #151 Check #152 Check #153 Check #154 |Check #155 Check #156 Check #157 Check #158 Check #159 Check #160 Check #161 Check #162 Check #163 $10,000.00 $12,500.00 $15,000.00 $10,262.00 $700.00 $3,000.00 $4,500.00 $56,273.00 $1,125.00 EB12/31/20XX The bank statement arrived in the mail. Now, the accountant has to complete the following tasks: Required Reconcile the bank statement with the Cash T-Account. See the worksheets provided at the end of this project. Record the journal entry to show the changes that need to be made to the Cash T-account. a. Show the balancing effects on the accounting equation b. Record the adjusting journal entry in two-line format using a debit and a credit. c. Show T-Accounts with beginning balances, transactions, and end balances. 1. 2. 3. Calculate the change in cash for the month of December 4. Prepare a new Adjusted Trial Balance and highlight the accounts and amounts changed. 5. Using the Updated Trial Balance prepared in step 4,prepare the following a. Multi-Step Income Statement b. Statement of Retained Earnings c. Classified Balance Sheet SCOTS FEDERAL CREDIT UNION Statement of Account Account Number 8900-14-124-106 Statement Date December 31,20XX BALANCE THIS STATEMENT Checks and Other Deposits and Debits BALANCE LAST STATEMENT Other Credits No. Total No. Total $22,866.00 12 $18,607.00 5 $48,762.00 $53,021.00 Date 12/1/20XX 12/3/20XX Check #150 12/7/200 Check #151 12/9/200. Check #154 12/12/20XX Check #152 12/16/20XX Check #153 12/17/20XX Check #155 12/18/20XX Check #156 12/19/20X Check #157 12/20/20XX Check #158 12/24/20XX 12/28/20XX Check #160 12/31/20X2X Checks Cleared Deposits Made Other Transactios Daily Balance $22,866.00 $32,386.00 30,086.00 $28,836.00 $40,136.00 $39,136.00 S36,136.00 $50,636.00 $49,436.00 $48,174.00 $59,436.00 $53,021.00 $480.00 $10,000.00 $2,300.00 $1,250.00 $1,200.00 $12,500.00 $1,000.00 $3,000.00 $500.00$15,000.00 $1,200.00 $1,000.00 NSF check (S 262) EFT deposit $1,000 Service Charge ( 15) $10,262.00 69 Project #11: Bank Reconciliation Fido's Food Mart-TAccount CASH BB12/1/20xx $22,866.00 480.00 $2,300.00 $1,200.00 $1,000.00 $1,250.00 $3,000.00 8500.00 $1,200.00 $1,000.00 $600.00 $6,400.00 $1,100.00 Check #150 Check #151 Check #152 Check #153 Check #154 |Check #155 Check #156 Check #157 Check #158 Check #159 Check #160 Check #161 Check #162 Check #163 $10,000.00 $12,500.00 $15,000.00 $10,262.00 $700.00 $3,000.00 $4,500.00 $56,273.00 $1,125.00 EB12/31/20XX The bank statement arrived in the mail. Now, the accountant has to complete the following tasks: Required Reconcile the bank statement with the Cash T-Account. See the worksheets provided at the end of this project. Record the journal entry to show the changes that need to be made to the Cash T-account. a. Show the balancing effects on the accounting equation b. Record the adjusting journal entry in two-line format using a debit and a credit. c. Show T-Accounts with beginning balances, transactions, and end balances. 1. 2. 3. Calculate the change in cash for the month of December 4. Prepare a new Adjusted Trial Balance and highlight the accounts and amounts changed. 5. Using the Updated Trial Balance prepared in step 4,prepare the following a. Multi-Step Income Statement b. Statement of Retained Earnings c. Classified Balance Sheet
