Accounting 305Chapter 5, Homework1. Dylan Corp leases some unused warehouse space to Carter Corp for$5k/month, payable i...

Get help with any kind of assignment - from a high school essay to a PhD dissertation

  1. Order Custom Essay, Course Work, Research and Term Papers

Accounting 305-Dylan Corp leases some unused warehouse space

April 14, 2018

Accounting 305
Chapter 5, Homework
1. Dylan Corp leases some unused warehouse space to Carter Corp for
$5k/month, payable in advance. On 8/01/2013 Dylan received $60k rent
from Carter for the one year period 8/01/2013 – 7/31/2014. Required:
Determine how much of this $60k rent received by Dylan on 8/01/13
should recognize in its:
a) income statement for the year ended 12/31/2013 as rent revenue, and
b) 12/31/2013 balance sheet as unearned rent revenue?

2. Clark Corp began operations on 1/01/14 and has a fiscal year end of
12/31. Clark rebuilds transmissions and provides a 12 month warranty on
all its work. Clark estimates that warranty performance cost will be
approximately 2% of revenue. During 2015, Clark rebuilds transmissions
and charges customers a total of $600,000. Also during 2014, Clark
performs warranty work and in doing so incurs costs totaling $5,600.
Required:
a) Determine the amount of warranty expense to appear in the year-end
12/31/14 income statement, and
b) Determine the amount of estimated warranty liability to appear in the
12/31/14 balance sheet.

3. Assume that on 1/01/2014 Filbeck Corp issues 4 year bonds with a face
value of $5 mil and a stated interest rate of 7% with interest payable
annually on 12/31 and maturing on 12/31/2017.
Required:
Provide amortization tables similar to those in Exhibit 5.1 assuming that:
a) the market rate at issuance was 7%,
b) the market rate at issuance was 6%,
c) the market rate at issuance was 8%.










OUR SERVICE CHARTER






  • Professional Academic Writers

    An academic degree is one of the qualifications that our writers hold. This is only a minimum requirement that we ask from our writers, but the team also has writers who possess higher educational credentials. It means that the team comprises of competent writers who have gone through institutions of higher learning and passed their exams. Subsequently, the writers have a good grasp of what our clients require. It is notable that our writers not only want to apply their acquired knowledge, but they are also willing to help our clients to outperform them. This is a clear indication of a team that is willing to walk an extra mile. We uphold professionalism in our operations, and our clients should look forward to receive services from a team of experts. It is the spirit of value addition that makes us to scale any heights in order to deliver and outperform our clients’ expectations.

  • Better Grades Guarantee

    Our team of writers prides in high-level competence. The writers have the required expertise that enables them to deliver quality papers that match with the requirements of the grading rubric. In the absence of the rubric, we ensure that the writers follow the clients’ instruction brief to the letter. We can confidently assure our clients to expect nothing short of a pass from the papers that we deliver. Importantly, we have qualified writers who handle different areas of study. This diversification enables us to allot clients’ orders to the writer who is well seasoned in the subject area of study. It also enables the team to become more professional due to specialization. Our clients should put their trust in our service delivery and expect to successfully attain high grades at all times. The fact that we offer free revision reflects our dedication in delivering high quality papers that match with our clients’ expectations.

  • 100% Plagiarism-Free Guarantee

    We deliver top-quality essays through employing various measures that seek to improve the content of a given assignment. One of the quality-control systems that we use entails plagiarism checkers. These systems help us to deliver a 100% plagiarism-free papers to our clients. We also value the originality of papers, and we do not resell any submitted paper. It means that every client always gets a unique paper. Additionally, our perfect team of writers is usually keen on the academic writing standards as well as the instructions brief that a client submits. Our team of writers holds matchless competence when it comes to its service delivery. Every member of the team usually has an academic degree, and the team’s diversified skills make it possible for us to have a qualified writer in any client’s area of study. Additionally, our past clients have always given a positive feedback on each of our writers.

  • 24/7 Customer Support

    Our team of writers prides in high-level competence. The writers have the required expertise that enables them to deliver quality papers that match with the requirements of the grading rubric. In the absence of the rubric, we ensure that the writers follow the clients’ instruction brief to the letter. We can confidently assure our clients to expect nothing short of a pass from the papers that we deliver. Importantly, we have qualified writers who handle different areas of study. This diversification enables us to allot clients’ orders to the writer who is well seasoned in the subject area of study. It also enables the team to become more professional due to specialization. Our clients should put their trust in our service delivery and expect to successfully attain high grades at all times. The fact that we offer free revision reflects our dedication in delivering high quality papers that match with our clients’ expectations.




Related Questions