Ace,Inc.had the Following Transactions During June

question 31

Multiple Choice

Ace,Inc.had the following transactions during June:
Performed services for $4,000 on account;received cash on account,$8,000;paid $900 for repair expense;paid $1,800 to a supplier that it owed from the previous month.What is the combined effect on Cash of the June transactions?

• A)$5,300 increase
• B)$5,300 decrease
• C)$8,000 increase
• D)$2,700 decrease

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Definitions:

Polar Molecules

Molecules that have an unequal distribution of charge, resulting in regions of partial positive and negative charges, which affect their interactions and solubility.

Electrons

Subatomic particles with a negative charge, found in all atoms and acting as the primary carrier of electricity in solids.

Synthesis Reaction

A chemical reaction in which two or more substances combine to form a new, more complex compound.

Dipeptide

A molecule consisting of two amino acids joined by a single peptide bond, a basic building block of proteins.