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avanturin [10]
3 years ago
7

Scarlett has received authorization to add an assistant manager to her department. This person will be working closely with Scar

lett and must have excellent interpersonal as well as technical skills. Scarlett wants to make certain that she maximizes the chance of choosing the correct individual and is trying to decide on the most appropriate selection device. Which of the following is most likely to be used by Scarlett during the initial selection stage to check if an applicant meets the basic qualifications for a job
Business
1 answer:
dalvyx [7]3 years ago
3 0

Answer:

The most likely way to be used by Scarlett during the initial selection stage to check if an applicant meets the basic qualifications for a job is:

Application form

Explanation:

Application Form:

It is such a form that is required by the employer in which the personal contact information, qualification and work experience are asked from the employee.

  • Application forms are used in pre-screening phase of recruitment so that the employer can get the potential candidates for a job.
  • These forms can also the employer to check whether that person is passionate for the job or not.
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Coal Train Mines paid $435000 for the right to extract ore from a 225000​-ton mineral deposit. In addition to the purchase​ pric
Nutka1998 [239]

Answer:

Coal Train Mines

Journal Entries:

A) Record the purchase of the mineral rights.

Date            Accounts               Debit          Credit

         Mineral Rights             $435,000

         Cash Account                                   $435,000

To record the purchase of the mineral rights.

B) Record the payment of fees and other costs.

Journal

Date Accounts                        Debit             Credit

        Fees and other costs    $71,250

        Cash Account                                      $71,250

To record $115 filing fee, $2,000 license fee, and $69,135 for geological survey.

C) Record the depletion for first-year production.

Journal

Date       Accounts                   Debit         Credit

Dec 31    Depletion Expense  $101,250

               Accumulated Depletion             $101,250

To record the depletion charge for the year.

D) Record the sales of ore.

Journal

Date    Accounts             Debit        Credit

           Cash                    $

           Sales Revenue                     $

To record the sale of 45,000 tons of ore

Explanation:

a) Depletion is an accrual accounting technique.  It allocates the cost of extracting natural resources such as timber, minerals, and oil from the earth by using the percentage of extracted resources over the total resources.  Depletion is a non-cash expense, like depreciation and amortization, that lowers the cost value of an asset incrementally through scheduled charges to the income statement.  While depletion is for natural resources, depreciation is for property, plant, and equipment, while amortization is used for intangible assets.

b) The total cost to be capitalized = $506,250 ($435,000 + $71,250)

c) Depletion charge for the first year = $101,250 (45,000/225,000 * $506,250).  Depletion per unit is $2.25

d) The selling price was not indicated, so no sales value was calculated.

e) Ending Inventory = $6,750 (48,000 - 45,000 * $2.25)

3 0
3 years ago
The customer is covered by a company defined benefit plan that will pay about $40,000 per year upon retirement at age 70. This c
Alexeev081 [22]

Answer:

Explanation:

Based on the scenario being described within the question it can be said that the best recommendation would be to invest $10,000 per year for the next 5 years in Treasury Bonds. Then in about 6-10 years when there are no more recurring mortgage payments to be made, follow that up by increasing the annual investment by another $10,800 per year.

5 0
3 years ago
The Physical Inventory Worksheet is used when: Multiple Choice inventory items are physically placed in the warehouse All of the
maw [93]

Answer:

taking a physical count of inventory on hand

Explanation:

The Physical Inventory Worksheet is used when taking a physical count of inventory on hand. This is the only way to tell how many items are really available for sale and allows a business to do it efficiently. An example would be counting the number of steaks the restaurant has on hand on a Saturday afternoon. This also allows the business to analyze the expected sales with the actual inventory in order to determine whether or not they need more.

7 0
3 years ago
Units Unit Cost Inventory, Jan. 1 8,000 $11 Purchase, June 19 13,000 12 Purchase, Nov. 8 5,000 13 If 9,000 units are on hand at
Lostsunrise [7]

Answer:

The answer is: $100,000

Explanation:

Under LIFO (last in, first out) costing method, we use the oldest costs are used to determine the ending inventory:

We were given the following data:

  • Jan. 1: 8,000 purchased at $11 per unit
  • June 19: 13,000 purchased at $12 per unit
  • Nov. 8: 5,000 purchased at $13 per unit

If the ending inventory had 9,000 units, then its total cost is:

Ending inventory = (8,000 units x $11 per unit) + (1,000 units x $12 per unit)

Ending inventory = $88,000 + $12,000 = $100,000

3 0
3 years ago
On July 1, 2015, Friedman Inc. invested $717,963 in a mine estimated to have 806,700 tons of ore of uniform grade. During the la
yaroslaw [1]

Answer:

The computations are shown below:

Explanation:

(a) Depletion cost per unit

Depletion cost per unit

= $717,963 ÷ 806,700 tons

= $0.89 per ton

(b) The Journal entry to record depletion expense is

Depletion Expense                   A/c Dr     $ 92,293     (103,700 tons × $0.89)

          To To Accumulated Depletion      A/c   $ 92,293

(Being the depletion expense is recorded)

(c) The cost applicable is

= 16,700 unsold units × $0.89

= $14,863  

5 0
2 years ago
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