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Accounting Assignment | College Homework Help

Author:
March 16th, 2020

The following transactions occurred during March, the first month of operations for Canyon Products, Inc.:College Homework Help

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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.$210,000

b.$390,000

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c.$810,000

d.$600,000 Get Accounting Homework Help Today

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