The Trial Balance of WM Partnership Is as Follows

question 8

Multiple Choice

The trial balance of WM Partnership is as follows:
Wilfred and Mike decide to incorporate their partnership.The partnership's books will be closed,and new books will be used for W & M Corporation.The following additional information is available:
1.The estimated fair values of the assets follow:
2.All assets and liabilities are transferred to the corporation.
3.The common stock is $10 par.Wilfred and Mike receive a total of 10,000 shares.
4.The partners share profits and losses in the ratio 7:3.
-Based on the preceding information,the journal entry on the partnership's books to record distribution of stock to prior partners will include a debit to Mike,Capital for:

• A)$38,010.
• B)$31,500.
• C)$42,000.
• D)$44,300.

Recognize the role of nonverbal cues in communication and their interpretation.

Understand the impact of gender on communication patterns.

Comprehend the theory of speech accommodation and its implications in real-life scenarios.

Analyze the relationship between speech behaviors and the perception of intimacy or dislike.

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Definitions:

Implicit Costs

Implicit costs refer to the opportunity costs of using resources that a company already owns, without any direct payment, for its own production purposes.

Explicit Costs

Direct, out-of-pocket payments for wages, rent, materials, and other inputs required for the production of goods or services.

Total Cost

The total amount of money spent on creating goods or services, encompassing both constant and fluctuating expenses.

Implicit Cost

Represents the opportunity costs of using resources owned by the firm for its own production processes, without direct payment.