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Ace Builders had the following transactions inJune: earned $4,000 on account that will be collected in cash nextmonth; collected $3,000 from a customer that was
Ace Builders had the following transactions inJune: earned $4,000 "on account" that will be collected in cash nextmonth; collected $3,000 from a customer that was owed from a previousmonth; incurred$500 of repair expense and paid cash to therepairman; paid$1,200 cash to a supplier that it owed from the previousmonth; paid out$800 in cash withdrawals to the owner. For AceBuilders, what is the combined effect onowner's capital from the Junetransactions?
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