The Following Transactions Occurred During May, the First Month of Operations

question 126

Multiple Choice

The following transactions occurred during May, the first month of operations for Hunter Products Limited:
* Issued 50,000 shares of share capital 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 Limited for $63,000.

-Refer to the above data. 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.

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Definitions:

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The physical and hormonal transformations that occur in the human body during puberty, marking the transition from childhood to adulthood.

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