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$1,100.00 $700.00 $1,125.00 Chek 10 Check #162 Check #163 $3,000.00 $4,500.00 $56,273.00 EB12/31/20XX 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. 2. 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. 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 BB12/1/20XX Fido's Food Mart -T Account CASH $22,866.00 $480.00 $10,000.00 $2,300.00 $1,200.00 $1,000.00 $12,500.00 $1,250.00 $3,000.00 $500.00 $15,000.00 $1,200.00 $1,000.00 $600.00 $10,262.00 $6,400.00 $1,100.00 $3,000.00 $700.00 $4,500.00 $1,125.00 $56,273.00 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 EB12/31/20XX The bank statement arrived in the mail. Now, the accountant has to complete the follow SCOTS FEDERAL CREDIT UNION Statement of Account Account Number Statement Date 8900-14-124-106 December 31, 20XX Checks and Other Deposits and BALANCE LAST BALANCE THIS Debits Other Credits STATEMENT STATEMENT No. Total No. Total $22,866.00 12 $18,607.00 5 $48,762.00 $53,021.00 Checks Cleared Deposits Made Other Transactions Daily Balance 12/1/20XX $22,866.00 12/3/20XX Check #150 $480.00 $10,000.00 $32,386.00 12/7/20XX $30,086.00 $2,300.00 Check #151 12/9/20XX $28,836.00 $1,250.00 Check #154 $40,136.00 12/12/20XX Check #152 $1,200.00 $12,500.00 $39,136.00 12/16/20XX Check #153 $1,000.00 $36,136.00 12/17/20XX Check #155 $3,000.00 $50,636.00 $500.00 $15,000.00 12/18/20XX Check #156 $49,436.00 12/19/20XX Check #157 $48,174.00 NSF check ($ 262) 12/20/20XX Check #158 $1,000.00 $59,436.00 $10,262.00 EFT deposit + $1,000 12/24/20XX $53,021.00 Service Charge ($15) $6,400.00 12/28/20XX Check #160 12/31/20XX $1,200.00 Fido's Food Mart djusted Trial Balance Debits Credits 52,898 10,250 1,260 Account Title December 31, 20XX Cash Accounts Receivable Less: Allowance for Doubtful Accounts Inventory Supplies Prepaid Insurance Equipment Vehicle Less: Accumulated Depreciation - Equipment & Vehicle Accounts Payable Interest Payable Unearned Revenue (Gift Cards) Dividends Payable Bonds Payable (mature 12/31/XX) Common Stock (200 shares @ $210/share, par $210) Additional Paid In Capital - Common Stock Dividends Declared 20,390 650 320 30,550 12,250 1,780 62,128 400 275 12,000 42,000 134,725 Treasury Stock Retained Earnings Sales Revenue Less: Sales Discount Cost of Goods Sold Operating Expenses Bad Debt Expense Depreciation Expense Insurance Expense Interest Expense Rent Expense Supplies Expense Wages Expense Totals 64,330 34,840 3,260 1,780 160 400 5,750 1,200 15,500 254,568 254,568

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