Uniq Works Purchased Raw Materials Amounting to $122,000 on Account

question 163

Multiple Choice

Uniq Works purchased raw materials amounting to $122,000 on account and $19,000 for cash.The materials will be used to manufacture upholstery for furniture manufacturers on a contract basis.Which of the following journal entries correctly records this transaction?

• A) \[\begin{array} { | c | r | r | }
• \hline \text { Accounts Payable } & 122,000 & \\
• \hline \text { Cash } & 19,000 & \\
• \hline \text { Raw Materials Inventory } & & 141,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Finished Goods Inventory } & 141,000 & \\
• \hline \text { Accounts Payable } & & 141,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Work-in-Process Inventory } & 141,000 & \\
• \hline \text { Accounts Payable } & & 141,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Raw Materials Inventory } & 141,000 & \\
• \hline \text { Cash } & & 19,000 \\
• \hline \text { Accounts Payable } & & 122,000 \\
• \hline
• \end{array}\]

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Definitions:

Feature Detectors

Specialized neurons in the brain that respond best to specific stimuli, such as lines, edges, or movement, helping in the process of visual recognition.

Individual Neurons

Single cell units in the nervous system that transmit information through electrical and chemical signals.

Trichromatic Theory

A theory of color vision that proposes the human eye has three types of receptors, each sensitive to red, green, or blue light, which when combined can produce the perception of any color.

Colour Vision

The ability of the visual system to distinguish objects based on the wavelengths of the light they reflect, emit, or transmit.