On June 30,William Tellman,Wendy Carlos,and David Wu Started a Partnership $\$ 200,000$

question 60

Essay

On June 30,William Tellman,Wendy Carlos,and David Wu started a partnership.Their investments were as follows:
W. Tellman: Land valued at $\$ 200,000$
W. Carlos: $\quad$ Cash of $180,000
D. Wu: $\quad$ Inventory valued at $\$ 240,000$ , Accounts payable of $\$ 50,000$ Please use the format below to prepare a balance sheet at June 30.
$$\begin{array} { | l | l | l | l | l | } \hline \text { Assets } & & & \text { Liabilities } & \\\hline & & & & \\\hline & & & & \\\hline & & & \text { Owners' Equity } & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline\end{array}$$

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Definitions:

Holmes and Rahe

Refers to the Holmes and Rahe Stress Scale, a tool used to measure the stress load we carry, and predict the risk of becoming ill as a result.

Internal Conflict

A psychological struggle within the mind of an individual, arising from opposing demands or impulses.

Major Types

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Conform to Expectations

The behavior of adjusting one's actions, attitudes, or beliefs to match those of a group or societal standards.