Debit Credit Cash 5,795 Accounts Receivable 50,000 Finished Goods* 29,000 Work in Process 0 Materials* 17,395 Prepaid Insurance 7,200 Building 100,000 Machinery and Equipment 50,000 Office Equipment 60,000 Accumulated Depreciation 137,000 Accounts Payable 10,000 FICA Tax Payable 3,000 FUTA and SUTA Payable Employee Income Tax Payable 300 5,000 Capital Stock Retained Earnings 50,000 114,090 319,390 319,390 Subsidiary Ledger detail: Finished Goods Inventory Direct Materials Direct Labor Factory Overhead Jones Piece Xiong Piece Total $5,000 $10,000 $15,000 $3,000 $7,000 $10,000 $1,000 $3,000 $4,000 $9,000 $20,000 $29,000 Direct Materials Inventory Description Units Silicon dioxide 1,500.00 Unit Cost $8.00 Total $12,000.00 Alumina 150.00 $10.00 $1,500.00 Magnesia 150.00 $12.00 $1,800.00 Boron oxide 60.00 $19.00 $1,140.00 Lead oxide 25.00 $25.00 $625.00 Lime 3.99 $21.02 $83.88 Silver Copper 4.00 $35.00 $140.00 3.79 $28.00 $106.12 $17,395.00