Answer:
Debit Credit
Trade payable $300
Cash $300
Explanation:
First we have to reverse the wrong journal entry which has been made by the inexperienced bookkeeper in the Adams Company accounts:
Debit Credit
Trade payable $300
Cash $300
Now we have to record the correct journal entry in the accounts of Adam Company in respect of account settlement with supplier which is given as follow:
Debit Credit
Trade payable $300
Cash $300
When only those applicants who have previously worked in hotels and casinos will be considered eligible for the next step in the hiring process. This best exemplifies a "pre-employment screening process".
<h3>What is a pre-employment screening process?</h3>
Pre-employment screening has several names, including: Background investigations, background screening, and criminal investigations
Some characteristics of pre-employment screening process are-
- Pre-employment screening entails gathering all the data necessary to make a wise hiring decision.
- This entails locating applicants who satisfy established job requirements and confirming the data they supply.
- Pre-employment screening procedure includes reviewing applications and deciding whether to hire someone.
- Various components, such as job screening questions included in the employment application, may be part of the screening process.
- Employing tests that are cognitive, behavioral, or skills-based, conduct pre-employment testing. including phone screenings, video interviews, and in-person meetings with candidates.
- Pre-employment investigations can differ depending on the applicant, the position, etc. However, it typically takes three to four weeks.
To know more about purpose of pre-employment screening, here
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Answer:
$87,120
Explanation:
The calculation of the deferred tax asset for the NOL carryforward is given below:
= (Year 2021 loss - Year 2022 income) × tax rate applicable for all years
= ($600,000 - $358,000) × 36%
= $242,000 × 36%
= $87,120
Since in a year 2021 it is a loss and the income in year 2022 that is to be adjusted and the same is considered in the computation part
Hence, the deferred tax assets for the NOL carryforward is $87,120
Answer:
$33,410
Explanation:
The computation of Ending finished goods inventory after allocation of underapplied or overapplied manufacturing overhead is shown below:-
Ending finished goods inventory after allocation of overapplied manufacturing overhead
= (Total of finished goods - (Manufacturing overhead applied of finished goods ÷ Total of Manufacturing overhead applied) × Overapplied amount
= ($34,530 - ($6,240 ÷ $39,000) × $7,000)
= $34,530 - $1,120
= $33,410
Answer:
the value of the inventory reported is $280,000
Explanation:
The computation of the inventory reported on the balance sheet is shown below:
As we know that the inventory should be recorded at lower cost of cost or market value. So here the same is applied
= Lower amount of market A + Lower amount of market B + Lower amount of market C
= $91,000 + $61,000 + $128,000
= $280,000
hence, the value of the inventory reported is $280,000
