CHART OF ACCOUNTS

GenX Furnishings

General Ledger

	ASSETS
110	Cash
121	Accounts Receivable
125	Notes Receivable
126	Interest Receivable
131	Materials
132	Work in Process
133	Factory Overhead
134	Finished Goods
141	Supplies
142	Prepaid Insurance
143	Prepaid Expenses
181	Land
191	Factory
192	Accumulated Depreciation-Factory

	LIABILITIES
210	Accounts Payable
221	Utilities Payable
231	Notes Payable
236	Interest Payable
241	Lease Payable
251	Wages Payable
252	Consultant Fees Payable

	EQUITY
311	Common Stock
340	Retained Earnings
351	Dividends
390	Income Summary

GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric Polyester filling Lumber Glue $67,910 19,920 151,860 6,750 The materials purchased during June are summarized from the receiving reports as follows: Fabric Polyester filling $338,580 470,870 Lumber 901,370 Glue 31,670 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $126,370 $161,120 $397,120 $ 684,610 Job 602 98,480 146,210 370,720 615,410 Job 603 93,880 115,240 205,800 414,920 Factory overhead-indirect materials $35,520 35,520 Total $318,730 $422,570 $973,640 $35,520 $1,750,460 The glue is not a significant cost, so it is treated as indirect materials (factory overhead). JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 2 3 4 5 C. Determine the June 30 balances that would be shown in the materials ledger accounts. Fabric Polyester Filling Lumber Glue Balance, June 30 $