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Agata [3.3K]
3 years ago
5

What is dollar velocity

Business
1 answer:
Tresset [83]3 years ago
8 0
<span>The velocity of money is the frequency at which one unit of currency is used to purchase domestically. produced goods and services within a given time period. In other words, it is the number of times one dollar is spent to buy goods and services per unit of time.</span>
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The _____, which can hold a wide variety of merchandise by means of hardware hung from the vertical spine, is the workhorse fixt
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Answer and Explanation:

gondola.

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Lawrence has been asked to learn how many cars drive by a specific location that his company is considering for a new restaurant
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The answer is  Investigating Primary Sources

Explanation:

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1. What do you call the basic unit of storage for computers?
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You do an extensive survey and learn that 15 out of the 200 people surveyed like to eat out on Tuesdays. You then look only at t
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The family should be less likely to eat out on Tuesday as compared to the general population.

Given that,

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3 0
3 years ago
Suppose Hoosiers, a specialty clothing store, rents space at a local mall for one year, paying $13,800 ($1,150/month) in advance
tigry1 [53]

Answer:

1.

Dec 31    Rent expense                   $3450 Dr

                  Prepaid Rent                       $3450 Cr

2.

Oct 1     Prepaid Rent                        $13800 Dr

                  Cash                                       $13800 Cr

3.

Year end balances at 31 December:

Rent Expense = $3450

Prepaid Rent = $10350

Explanation:

Assumption: The year end for the business in on 31 December.

1.

The rent is paid in advance thus it is an asset. On 31 December the adjusting entry will be made under the accrual principle to match the current period's rent expense and record it in the period to which it belongs to. Thus we will credit the rent expense for 3 months i.e. October, November and December. We will credit the asset account that is Prepaid Rent.

2.

The prepayment of rent is creating an asset account in the title of prepaid rent. The entry would be to record the asset prepaid rent by the full amount of the rent prepaid and credit the other asset account through which the payment is being made.

3.

The adjusted year end balance for rent expense will be the rent expense paid for this period that is $1150 * 3 = 3450

The balance in the prepaid rent account after adjusting the rent expense will be,

Prepaid rent = 13800 - 3450 = $10350

8 0
3 years ago
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