Question

Using the ledger balances and additional data given, do the following for Cross Lumber for the year ended December 31, 201X:
1. Prepare the worksheet.
2. Prepare the income statement, statement of owner’s equity, and balance sheet.
3. Journalize and post adjusting and closing entries. (Be sure to put beginning balances in the ledger first.)
4. Prepare a post-closing trial balance.
5. Journalize the reversing entry for wages accrued.


Additional Data

a./b. Merchandise inventory, December 31 ....... $5,000
c. Lumber supplies on hand, December 31 ....... 90
d. Insurance expired ............... 160
e. Depreciation for the year ............. 270
f. Accrued wages on December 31 .......... 100


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  • CreatedApril 24, 2014
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