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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Account Balances for Cross Lumber Acct. No 110 Cash 111 Accounts Receivable 112 Merchandise Inventory 113 Lumber Supplies 114 Prepaid Insurance 121 umber Equipment 122 Accum. Dep., Lumber Equipment 220 Accounts Payable 221 Wages Payable 330 J. Cross, Capital 331 J. Cross, Withdrawals 332 Income Summary 440 Sales 441 Sales Returns and Allowances 550 551 Purchases Discount 552 Purchases Returns and Allowances 660 ages Expense 661 Advertising Expense 662 Rent Expense 663 Dep. Expense, Lumber Equipment 664 umber Supplies Expense 665 Insurance Expense 1,390 1,380 4,500 279 223 3,000 500 1,190 7,097 2,700 23,000 250 15,100 305 320 2,300 430 860 Purchases