why it is PART VI

Part V - Notes Receivable (15 points) Prepare journal entries to record the following events: Jul. 1 Grand Company accepted a 12%, 5-month, $12,000 note dated July 1 from Lucas Company for the balance due on Lucas's account Jul. 31 Grand accrued interest on the above note for the month of July. Oct. 1 Collected Lucas Company note in full. Assume interest was correctly accrued on August 31 and September 30 Part VI - Depreciation Methods (15 points) The following information is available for Uniquilo Company, which has an accounting year-end of December 31, 2019. 1. A delivery truck was purchased on June 1, 2017 for $40,000. It was estimated to have a $4,000 salvage value after being driven 60,000 miles. During 2019, the truck was driven 22,000 miles. The units-of-activity method of depreciation is used. 2. A building was purchased on January 1, 2001, for $6,600,000. It is estimated to have a $60,000 salvage value at the end of its 40-year useful life. The straight-line method of depreciation is being used. 3. Store equipment was purchased on January 1, 2019, for $60,000. It was estimated that the store equipment would have a $1,000 salvage value at the end of its 5-year useful life. The double-declining-balance method of depreciation is being used. Instructions: Present information on table below. Show computations supporting your answer Accumulated Depreciation Depreciation Expense for 2019 Book Value at 12/31/19