Cullumber Co. leased equipment to Union Co. on July 1, 2021, and properly recorded the sales-type lease at $131,000, the present value of the lease payments discounted at 10%. The first of eight annual lease payments of $19,600 due at the beginning of each year of the lease term was received and recorded on July 1, 2021. Cullumber had purchased the equipment for $120,000. What amount of interest revenue from the lease should Cullumber report in its December 2021 income statement

In early january, burger mania acquired 100% of the common stock of the crispy taco restaurant chain. the purchase price allocation included the following items: $4 million, patent; $3 million, trademark considered to have an indefinite useful life; and $5 million, goodwill. burger mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. what is the total amount of amortization expense that would appear in burger mania's income statement for the first year ended december 31 related to these items?

Oliver is the vice president of production at his company and has been managing the launch of new software systems. he worked with a team of individuals who were tasked to create awareness about a specific product and also to approach potential purchasers of the product. which department managers were part of oliver’s team?

Almeda products, inc., uses a job-order costing system. the company's inventory balances on april 1, the start of its fiscal year, were as follows: