[The Following Information Applies to the Questions Displayed Below

question 54

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 are total assets of Hunter Products at the end of May?

• A)$913,000
• B)$790,000
• C)$853,000
• D)$916,000

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Definitions:

Pie Chart

A circular statistical graphic divided into slices to illustrate numerical proportion, where the arc length of each slice is proportional to the quantity it represents.

Bilateral Column Chart

A graphical representation of data where columns on two sides of a central axis compare related entities.

Simple Bar

In data visualization, a representation of data in which individual values are shown as horizontal or vertical rectangles of varying lengths.

Sales Manager

A sales manager is responsible for directing and guiding a sales team, setting sales goals, analyzing data, and developing training programs to improve sales performance.