Multiple Choice
The following transactions occurred during March, the first month of operations for Canyon Products, Inc.:
1. Issued 50,000 shares of capital stock in exchange for $600,000 cash.
2. Purchased land for $400,000, using a $150,000 cash down payment and signing a note payable for the balance.
3. Made a $60,000 cash payment on the note payable from the purchase of land.
4. Purchased equipment on credit from Burton, Inc. for $63,000.
What is the balance in the Cash account at the end of March?
A) $810,000
B) $210,000
C) $600,000
D) $390,000
Correct Answer:
Verified
Correct Answer:
Verified
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