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

question 122

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.
-How much was the Net income in June?

• A) $500
• B) $5,700
• C) $2,700
• D) $3,500

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Definitions:

Power Politics

The strategies used by individuals or groups within political organizations or structures to acquire, maintain, or exercise power and influence.

Outstanding Leader

A person distinguished by their exceptional leadership qualities, inspiring vision, strong communication skills, and the ability to guide others toward success.

Winston Churchill

A British politician, army officer, and writer, who served as Prime Minister of the United Kingdom during World War II and again in the early 1950s.

Influence

The capacity to have an effect on the character, development, or behavior of someone or something, or the effect itself.