Cullumber company buys merchandise on account from oriole company. the selling price of the goods is $1,455 and the cost of the goods sold is $775. both companies use perpetual inventory systems. journalize the transactions on the books of both companies. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when amount is entered. do not indent manually.) account titles and explanation

Peppy knows a lot about marketing, but not much about the legal or financial aspects of starting a new business. he wants to consult with a lawyer and accountant, but his budget is tight with all of the expenses involved in getting peppy's pizzazzeria up and running. peppy should: trust his basic instincts and try to put it together without the advice of lawyers and accountants. delay talking with a lawyer and accountant until the business has established a positive cash flow for at least one year. immediately hire full-time lawyers and accountants for his staff. consult with a lawyer and accountant even though the budget is tight.

Identify the level of the literature hierarchy for u.s. gaap to which each item belongs

Sports leave thousands of college athletes with little time for their studies. this is an example of