ABC Delivery Service Had the Following Transactions in June: Earned

question 127

Multiple Choice

ABC Delivery Service had the following transactions in June: Earned $4,000 cash for services rendered; collected $2,500 from a customer "on account;" paid out $200 cash for plumbing services; received $3,500 of supplies and promised to pay one month later; paid out $1,000 in cash drawings to the owner.
-What is the combined effect on Owner's capital of the June transactions?

• A) Up $2,800
• B) Down $300
• C) Down $6,300
• D) Up $5,300

---

Definitions:

Motor Skill

The learned abilities to move some part of the body, in actions ranging from a large leap to a flicker of the eyelid. (The word motor here refers to movement of muscles.)

Facilitation

The process of making tasks easier to perform, often by providing assistance or resources that support the achievement of a goal.

Instinct

The innate inclination of a living organism towards a particular complex behavior.

Reflex

An unlearned, involuntary action or movement in response to a stimulus. A reflex occurs without conscious thought.