Required information [The following information applies to the questions display

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Required information [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 54,000 shares of capital stock to the owners of the corporation in exchange for $648,000 cash. Purchased a piece of land for $440,000, making a $170,000 cash down payment and signing a note payable for the balance Made a $64,000 cash payment on the note payable from the purchase of land Purchased equipment on credit from BBW, Inc. for $67,000. What is the total of Hunter Products' liabilities at the end of May? Multiple Choice $273,000 $67000. $337000 $206.000

Explanation / Answer

ans)273000$

liabilities not include owners equity

liabilites amount$ notes payable    440000-170000 270000 less:cash paid (64000) net notes payable 206000 206000 equipment purchased on credit 67000 total liabilities 273000

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