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:

Depressed

A mental health condition characterized by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in activities.

Interpret

To explain the meaning of something or understand something in a specific way.

Biological Approach

A perspective in psychology and neuroscience that emphasizes the role of genetic, neurological, and physiological factors in behavior and mental processes.

Unconscious Minds

Part of the mind that is not within one's conscious awareness, influencing thoughts and behaviors without one's direct knowledge.