Answer:
Answer is explained in the explanation section.
Explanation:
Hektic America Inc.
Customer Service Representative
Date: Jan 23rd, 2021 (You can add your date accordingly)
21 Lincoln St., Chester, Mass.
Dear Concern,
This is to inform you that, we have been buying your product Hektik Model 370 Water Stage Manometer order No. 26019 since a long. It is unfortunate to inform you that, it is not working up to the mark. We further can not rely on this product, as it stop working at critical moments. It's spring and drive assembly have been exhausted and it needs replacement. It has broke down several times. Unfortunately, we can not continue using this product, as it has severe repercussions on our company. Therefore, it is highly requested to replace this product with a genuine one and free of charge. Otherwise, we will be compelled to change the supplier of this product for our company.
Your's Truly,
Engineering Technologist,
H. L. Winman and Associates
Answer:
private prison enterprise
Explanation:
A public jail is not a profit-generating enterprise. The eventual objective is to house jailed prisoners in an effort to rehabilitate them or remove them from the streets. A private jail, on the other hand, is administered by a business. That corporation’s final purpose is to profit from everything they deal in.
In order to generate money as a private jail, the firm gets into a contract with the government. This contract should indicate the basis for payment to the company. It might be based on the size of the jail, based on a monthly or annual predetermined sum, or in most situations, it is paid depending on the number of convicts that the prison holds.
As of 2019, there are around 116,000 inmates detained in private prisons, which constitutes 8 percent of the overall federal and state prison population.
Many of these jails save the government money, but others actually cost more per prisoner than a public institution would cost.
Answer:
The amount Laramie should record the purchase of land is <u>$6.2 million</u>.
Explanation:
The costs of a fixed asset refer to the purchase price and other relevant costs which are incurred in order to the location and working condition required to operate the fixed asset in way that it is intended.
The other relevant costs that are added to the purchase price to arrive at the cost of the fixed assets include professional fees, non-refundable taxes or levies, and among others.
If any trade discount or rebate is given, this will be deducted from the purchase price to arrive at the cost.
Any interest required to be paid on the delayed payment in order to reflects the time value of money are not part of the cost of the asset but expensed in the year they are incurred.
From the question, the land acquired is a fixed asset. Based on the explanation above, the total cost of the asset is $6.2 million. The interest from the 6% interest rate on the remaining $5 million will be part of the cost of the land but it will be expensed in the year they are incurred.
Therefore, the amount Laramie should record the purchase of land is <u>$6.2 million</u>.
<span>Conflict
of interest is a very big issue when it comes to business because it may cause
wrong decisions. For example, you are business partners and each one of you
have different interests and ideas, thus you will not be able to formulate
better ideas and create a good business product. It is very important that in a
business, you and your business partner must agree in 1 idea and push it
through until it become a good product.</span>
LIFO uses the last unit costs for Cost of Goods Sold on the income statement and the first unit costs for Inventory on the balance sheet.
<h3>What is LIFO?</h3>
LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.
For example, if beginning inventory consists of 10 units at $10 per unit. In the middle of the month, 10 units were bought at $15 per unit. At the end of the month, 10 units were sold. Using LIFO, the cost of goods sold would be $150 ( 10 x 15). Ending inventory would be $100 ($10 x 10).
To learn more about LIFO, please check: brainly.com/question/13779572
