[The Following Information Applies to the Questions Displayed Below

question 58

Multiple Choice

[The following information applies to the questions displayed below.]
The following transactions occurred during May,the first month of operations for Hunter Products,Inc.:
* Issued 50,000 shares of capital stock to the owners of the corporation in exchange for $600,000 cash.
* Purchased a piece of land for $400,000,making a $150,000 cash down payment and signing a note payable for the balance.
* Made a $60,000 cash payment on the note payable from the purchase of land.
* Purchased equipment on credit from BBW,Inc.for $63,000.
-What is the balance in the Cash account at the end of May?

• A)$210,000
• B)$390,000
• C)$600,000
• D)$810,000

---

Definitions:

Freud

refers to Sigmund Freud, an Austrian neurologist who founded psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Physical Focus

The emphasis on or concentration of resources and efforts on bodily or material aspects of existence.

Identification

A psychological process in which an individual assimilates an aspect, property, or attribute of another and is transformed, wholly or partially, by the model the other provides.

Freud

Sigmund Freud was an Austrian neurologist who founded psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.