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andre [41]
3 years ago
11

Identify three types of customers that a business serves.

Business
1 answer:
12345 [234]3 years ago
6 0
<h2>Answer One<u>:</u></h2>

1. Cheap customers

The first one is the cheap customers. These type of customers buy based on price. They compare products and buy the lowest price. These are the type of people who continuously look for coupons and discounts.

2. Educated customers

These customers buy based on value. These people are educated about the things they buy. They research the topic and read reviews about the product. They are willing to spend a significant amount of money, but they need time before buying. They want to know if they really need this product or service.

3. Driven customers

These people buy based on emotions. “It needs to feel right” that’s what they think of when purchasing. For these type of customers, money is not an issue. These are the type of people who want to work with the best, buy the best, and be the best.

<h2><u>Answer Two:</u></h2>

1. Your Current Customers

These are the most important because they’ve already made a commitment to you. They’re less likely to leave your organisation if they receive great customer service and, in reality, it costs less to keep them happy than it does to solicit new business.

2. Brand New Customers

These are the people who are currently purchasing products and services from your competitors. What can you do to show them that your products and services are of a higher quality and would benefit them more than the products they’re currently purchasing?

3. Lost Customers

Lost customers left your organisation for a reason, but you may be able to win them back. You should, of course, consider this on a case by case basis. You obviously don’t want to try to regain a customer who had a terrible payment history. You should, however, try to regain customers who left because of price, because they thought you didn’t have what they needed, or who may suddenly find the service at the new organisation isn’t as great as they thought it would be.

<h2><u>Final Notes:</u></h2>

Make sure your team members understand the three types of customers and how important each is to the growth and success of your organisation. Focus on these three main types of customer and you’re bound to see significant growth in your work group.

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A company purchased 300 units for $60 each on January 31. It purchased 150 units for $25 each on February 28. It sold a total of
Daniel [21]

Answer:

Weighted-average inventory costing method Ending Inventory = $ 9666.67= $ 9667

Explanation:

Date           Particulars       Units   Unit Cost        Total Cost

January 31  Purchases          300             $ 60        $ 18,000

February 28   Purchases       150             $ 25          $3750

Total                                       450                               $ 21,750

Weighted-average inventory costing method=  Total Cost/ Total Units=

                                    $ 21,750/450= $48.33 purchase price per unit

Sales              250 units       at     $ 70    =      $ 17500

Ending Units =  Purchases-Sales = 450-250= 200

Weighted-average inventory costing method Ending Inventory = $ 9666.67

200 units at 448.33=  $ 9666.67= $ 9667

3 0
3 years ago
Read 2 more answers
Juniper Co uses a perpetual inventory system and the gross method of accounting for purchases. The company purchased $9750 of me
KatRina [158]

Answer:

D) Debit Accounts Payable $1500; Credit Merchandise Inventory $1500

Explanation:

The journal entry to record the merchandise return is shown below:

Account payable A/c Dr $1,500

                To Merchandise inventory A/c $1,500

(Being returned inventory is recorded)

For recording the returned inventory we debited the account payable and credited the merchandise inventory account so that the proper posting could be done

6 0
3 years ago
Vaughn Manufacturing purchased machinery for $980000 on January 1, 2017. Straight-line depreciation has been recorded based on a
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Answer:

selling price= $199,633

Explanation:

<u>First, we need to calculate the book value at the moment of the sale:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (980,000 - 56,500) / 5

Annual depreciation= $184,700

Accumulated depreciation= (4*184,700) + (184,700/12)*4

Accumulated depreciation= $800,367

<u>Book value on May 1st:</u>

Book value= purchase price - accumulated depreciation

Book value= 980,000 - 800,367

Book value= $179,633

<u>Now, if the company makes a profit, the selling price was higher than the book value:</u>

<u></u>

Gain= selling price - book value

20,000= selling price  - 179,633

selling price= $199,633

4 0
3 years ago
When Patey Pontoons issued 10% bonds on January 1, 2021, with a face amount of $640,000, the market yield for bonds of similar r
IRINA_888 [86]

Answer and Explanation:

According to the scenario, computation of the given data are as follow:-

1) Semiannually Rate of interest = 11% ÷ 2 = 5.50% = 0.055

Number of years (half yearly) = 4 × 2 = 8 years

PVIF Value = 1 ÷ (1 + Interest Rate)^Number of years

=1 ÷ (1 + 0.055)^8

= 1 ÷ 1.5347

= 0.65160

PVIFA Value = [1 -1 ÷ (1 + Interest Rate)^Number of years ÷  Interest Rate

= [1 - 1 ÷ (1 + 0.055)^8]  ÷ 0.055

= [1 - 0.65160] ÷ 0.055

= 6.33457

Particular  PV table value Multiply Amount  ($) PV value

Principle value  0.65160 × 640,000                          $417,024

Annually interest Value 6.33 ×     32,000                          $202,706

($640,000 × 6 ÷ 12 × 10%)  

Present Bond’s Price                                      $619,730

2).  

Journal Entry

On Jan.1,2021

Cash A/c         Dr.  $619,730

Discounts on bond payable A/c      Dr.  $20,270

 To Bond payable A/c         $640,000

(Being bond issued at discount is recorded)

3. The amortizable schedule is presented on the attachment below

4).

Journal Entry

June 30,2021

Interest expense A/c      Dr.  $34,085  

     To Cash A/c         $32,000

     To Discount on bond payable A/c    $2,085  

(Being interest expenses is recorded)  

5) On December 31,2021 Amount of bonds reported = $624,015

6). Interest expenses reported in income statement

= $34,085 + $34,200

= $68,285

7).

Journal Entry

On Dec. 31,2024

Interest expense A/c      Dr.  $35,032

   To Cash A/c         $32,000

   To Discount on bond payable A/c      $3,032

(Being interest expense is recorded)

On Dec.31,2024

Bond payable A/c       Dr.  $640,000

  To Cash A/c        $640,000

(Being interest expense is recorded)

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Answer:

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