On January 1, 2019, AJ Co. exchanged equipment for a $400,000 zero-interest-bearing note due on January 1, 2022. The prevailing rate of interest for a note of this type at January 1, 2019 was 10%. The present value of $1 at 10% for three periods is 0.75. What amount of interest revenue should be included in AJ;s 2020 income statement? AJ has a 12/31 fiscal year end and uses the effective interest method.

The leading producer of cell phone backup batteries, jumpstart, has achieved great success because they produce high-quality battery backups that are not too expensive. even so, another company that produces lower-quality batteries at the same price has also achieved some success, but not as much as jumpstart. also, in general, the price of backup batteries has declined because of economies of scale and learning. in addition, jumpstart has added complementary assets, such as a carrying case. considering all of these factors, the backup battery industry is most likely in the introduction stage. growth stage. shakeout stage. maturity stage.

Mesa company produces wooden rocking chairs. the company has two production departments, cutting and assembly. the wood is cut and sanded in cutting and then transferred to assembly to be assembled and painted. from assembly, the chairs are transferred to finished goods inventory and then are sold.mesa has compiled the following information for the month of february: cutting department assemblydepartmentdirect materials $ 73,000 $ 13,000direct labor 73,000 108,000applied manufacturing overhead 159,000 171,000cost of goods completed and transferred out 233,000 255,000required: 1, 2, 3, & 4. prepare journal entries for the transactions in the cutting and assembly departments of mesa company. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

When signing a lease for a retail space, it's important to make sure the lease has a clause, which releases the tenant from the lease if sales don't reach an agreed-upon amount.