Table 1-3 Ace Builders Had the Following Transactions in June: Earned $4,000

question 72

Multiple Choice

Table 1-3
Ace Builders had the following transactions in June: earned $4,000 "on account" that will be collected in cash next month; collected $3,000 from a customer that was owed from a previous month; incurred $500 of repair expense and paid cash to the repairman; paid $1,200 cash to a supplier that it owed from the previous month; paid out $800 in cash withdrawals to the owner.
-For Ace Builders, what is the combined effect on cash from the June transactions?

• A)Down $800
• B)Down $2,500
• C)Up $4,500
• D)Up $500

---

Definitions:

Cortex

The outer layer of the cerebrum in the brain, playing a key role in memory, attention, perception, cognition, awareness, thought, language, and consciousness.

Forebrain

The anterior part of the brain, responsible for complex behaviors and functions, including thought, emotion, and sensory processing.

Hypothalamus

A region of the brain below the thalamus that coordinates both the autonomic nervous system and the activity of the pituitary, controlling body temperature, thirst, hunger, and other homeostatic systems.

Amygdala

A region of the brain within the temporal lobe, crucial for the processing of emotions, especially fear and pleasure.