Cullumber corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. during the last part of 2022, cullumber had the following transactions related to notes payable. sept. 1 issued a $15,600 note to pippen to purchase inventory. the 3-month note payable bears interest of 7% and is due december 1. (cullumber uses a perpetual inventory system.) sept. 30 recorded accrued interest for the pippen note. oct. 1 issued a $18,000, 8%, 4-month note to prime bank to finance the purchase of a new climbing wall for advanced climbers. the note is due february 1. oct. 31 recorded accrued interest for the pippen note and the prime bank note. nov. 1 issued a $25,200 note and paid $8,100 cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes. this note bears interest of 8% and matures in 12 months. nov. 30 recorded accrued interest for the pippen note, the prime bank note, and the vehicle note. dec. 1 paid principal and interest on the pippen note. dec. 31 recorded accrued interest for the prime bank note and the vehicle note. prepare journal entries for the transactions noted above.

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.)

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)

Best burger is a major fast food chain. its managers are motivated to grow the firm in order to increase their market power and change the industry structure in their favor. which of the following strategies is most associated with their motive for growth? a. employing celebrity spokespeople b. implementing automated burger-making machinery c. purchasing competitors d. increasing executive salaries