Ace Builders Had the Following Transactions in June: Earned $4,000

question 85

Multiple Choice

Ace Builders had the following transactions in June: Earned $4,000 "on account;" 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 to a supplier that it owed from the previous month; paid out $800 in cash drawings to the owner.
-What is the combined effect on Cash of the June transactions?

• A) Up $500
• B) Down $5,700
• C) Down $2,700
• D) Up $4,500

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Definitions:

Preferences

An individual's choices or inclinations regarding alternatives in various contexts, such as consumer behavior, personal tastes, or decision-making.

Main Entrees

The primary dishes of a meal, typically more substantial and complex than appetizers or side dishes.

Manager's Estimates

Approximations or judgments made by managers regarding future operational performances or outcomes.

Chicken

A domesticated fowl, Gallus gallus domesticus, raised worldwide for its meat and eggs.