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






  • 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.

  • Money Back Guarantee

    If any of our writers deliver an incomplete or ambiguous paper that is off the topic, our clients can claim for a refund in regard to the oversight. We do not compromise our service delivery through submission of a paper that does not follow our clients’ instructions. We also mind about the interest of our customers, and we always give them value for their money. However, our clients have a choice to request for a free revision within 14-30 days, or depending on the length of the submitted paper. A client who needs a refund should send a request for it within 14 days after receiving the completed paper. If a client decides not to download the paper, then they can request for 100% refund. Any refunded amount usually goes to the client’s Bonus Balance as store credit. There is always extra compensation when the refund takes the form of store credit. Alternatively, the refunded amount can also go the client’s credit card.

  • 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.

  • Excellent Quality Work

    Grammar is one of the elements that we take seriously in our service delivery. Beside the use of spell checkers, we progressively take our writers through the essentials of a quality paper that features information clarity. Importantly, we encourage our writers to avoid coming up with a paper that deviates from the elements that appear on the client’s instruction brief. It means that the papers that we deliver denote well researched information that is rich in details. Additionally, the papers usually contain exhaustive details on any instruction that a client submitted. It is the tireless application of our writers’ efforts that makes us stand out when it comes to the delivery of excellent quality work. Notably, our writers use quality resources when digging up information that a paper requires. They are usually aware of the sources that contain rich information. Our past clients have proved that we give nothing short of quality work through giving us a positive feedback.




Related Questions