The following transactions occurred during the year: a. Received $36,000 cash from the company's founders in exchange for common stock.
b. Purchased land for $10,500, signing a two-year note (ignore interest).
c. Bought two used delivery trucks at the start of the year at a cost of $12,000 each; paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest).
d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks.
e. Stockholder Jonah Lee paid $250,000 cash for a house for his personal use.

Required:
a. Show the effects of the Journal entries by account, using the T-account.
b. Prepare a classified balance sheet for Laser Delivery Services, Inc., at the end of December.

Suppose that two firms produce differentiated products and compete in prices. as in class, the two firms are located at two ends of a line one mile apart. consumers are evenly distributed along the line. the firms have identical marginal cost, $60. firm b produces a product with value $110 to consumers.firm a (located at 0 on the unit line) produces a higher quality product with value $120 to consumers. the cost of travel are directly related to the distance a consumer travels to purchase a good. if a consumerhas to travel a mile to purchase a good, the incur a cost of $20. if they have to travel x fraction of a mile, they incur a cost of $20x. (a) write down the expressions for how much a consumer at location d would value the products sold by firms a and b, if they set prices p_{a} and p_{b} ? (b) based on your expressions in (a), how much will be demanded from each firm if prices p_{a} and p_{b} are set? (c) what are the nash equilibrium prices?