Question

can someone help me with my homework PV and PVI

NU PIHU inventory method. What is the dollar value of the ending U julu uuring November? inventory on November 30? What is the dollar value of the cost of goods sold during November? Problem V - Notes Receivable (15 points) Instructions Prepare journal entries to record the following events: Jul. 1 TL Company accepted a 8%, 4-month, $10,000 note dated July 1 from TH Company for the balance due on TL's account. Jul. 31 TL accrued interest on the above note for the month of July. Oct. 1.Collected TH Company note in full. Assume interest was correctly accrued on August 31 and September 30. Oct. 1 Assume instead that the note is dishonored and that no interest has been accrued. TH Company is expected to eventually pay the amount owed. Problem VI - Plant Asset Disposal Entries (15 points) Prepare the necessary journal entries to record the following transactions in 2016 for BCTH Co. March 1 Discarded old store equipment that originally cost $20,000 and had a book value of $4,000 on the date of disposal. Assume depreciation on the equipment has already been recorded for the current year. July 31 Sold a delivery truck for $8,000. The delivery truck originally cost $30,000 and had accumulated depreciation of $24,000 on the date of sale. Assume the depreciation on the truck has already been recorded for the current year. Sept. 30 Equipment with a 4-year useful life was purchased on January 1, 2012, for $16,000 and was sold for $5,000. The equipment had been depreciated using the straight-line method with an estimated salvage value of $4,000. Depreciation Expense was last recorded on December 31, 2015. Problem VII - Depreciation Methods (15 points) labla for RC&TL Company, which has an accounting year-end

Answer 1

		Debit	Credit
july 1	Notes receivable	10000
	Accounts receivables - TH company		10000
july 31	Interest receivable [10000*0.08*1/12]	66.67
	Interest revenue		66.67
august 31	Interest receivable	66.67
	Interest revenue		66.67
september 30	Interest receivable	66.67
	Interest revenue		66.67
october 1	cash	10200
	Interest receivable		200
	Notes receivable		10000
october 1	accounts receivable - TH company	10200
	Notes receivable		10000
	interest revenue		200
	[dishonored note]

Note: it is mentioned that note is for 4 months but then date is given for collection and dishonor is on oct 1 which is 3 months; so 3 months is calculated for interest.

		Debit	Credit
march 1	Accumulated depreciation	16000
	Loss from disposal of equipment	4000
	Equipment		20000
July 31	cash	8000
	Accumulated depreciation -delivery truck	24000
	Delivery truck		30000
	gain on asset disposable or sale of asset		2000