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

Barbara jones opened barb’s book business on february 1, 2010. the company specilizes in editing accounting textbooks. you have been hired as manager. your duties include maintaining the company’s financial records. the following transactions occurred in february , the first month of operations. a. received shareholders' cash contributions on february 1 totaling $16,000 to form the corporation; issued 1,000 shares of common stock. b. paid $2,400 cash on february 2 for three months' rent for office space. tip: for convenience, simply record the full amount of the payment as an asset (prepaid rent). at the end of the month, this account will be adjusted to its proper balance. c. purchased and received supplies on february 3 for $300 cash. d. signed a promissory note on february 4, payable in two years; deposited $10,000 in the company's bank account. e. on february 5, paid cash to buy equipment for $2,500 and land for $7,500. f. placed an advertisement in the local paper on february 6 for $425 cash. g. recorded sales on february 7 totaling $1,800; $1,525 was in cash and the rest on accounts receivable. h. collected accounts receivable of $50 from customers on february 8. i. on february 9, repaired one of the computers for $120 cash. tip: most repairs involve costs that do not provide additional future economic benefits. j. incurred and paid employee wages on february 28 of $420.required: set up appropriate t-accounts for cash, accounts receivable, supplies, prepaid rent, equipment, furniture and fixtures, notes payable, contributed capital, service revenue, advertising expense, wages expense, and repair expense. all accounts begin with zero balances.tip: when preparing the t-accounts, you might find it useful to group them by type: assets, liabilities, stockholders’ equity, revenues, and expenses.2. record in t-accounts the effects of each transaction in february, referencing each transaction in the accounts with the transaction letter. show the unadjusted ending balances in the t-accounts. 3. prepare an unadjusted trial balance at the end of february.4. refer to the revenues and expenses shown on the unadjusted trial balance. based on this information, write a short memo offering your opinion on the results of operations during the first month of business.

Suppose that: 1. malaysia requires 1 hour of labor to produce 1 pound of rice and 2 hours of labor to produce 1 pencil; 2. indonesia requires 2 hours of labor to produce 1 pound of rice and 4 hours of labor to produce 1 pencil; 3. each country has 10,000 hours of labor to allocate between the production of rice and pencils; and 4. in autarky, malaysia consumes 5,000 pounds of rice and 2,500 pencils. which country has an absolute advantage in rice production? in pencil production? which country has a comparative advantage in rice production? in pencil production? will trade between the two countries be mutually beneficial?

Suppose that xtel currently is selling at $40 per share. you buy 500 shares using $15,000 of your own money, borrowing the remainder of the purchase price from your broker. the rate on the margin loan is 8%. a. what is the percentage increase in the net worth of your brokerage account if the price of xtel immediately changes to (a) $44; (b) $40; (c) $36? (leave no cells blank - be certain to enter "0" wherever required. negative values should be indicated by a minus sign. round your answers to 2 decimal places.) b. if the maintenance margin is 25%, how low can xtel’s price fall before you get a margin call? (round your answer to 2 decimal places.) c. how would your answer to requirement 2 would change if you had financed the initial purchase with only $10,000 of your own money? (round your answer to 2 decimal places.) d. what is the rate of return on your margined position (assuming again that you invest $15,000 of your own money) if xtel is selling after one year at (a) $44; (b) $40; (c) $36? (negative values should be indicated by a minus sign. round your answers to 2 decimal places.) e. continue to assume that a year has passed. how low can xtel’s price fall before you get a margin call? (round your answer to 2 decimal places.)