Each business day, on averagem a company writes checks totaling $36,000 to pay its suppliers. THe usual clearing time for the checks is four days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $47,000. The cash from the payments is available to the firm after two days. Calculate the company's disbursement float, collection float, and net float Calculate the company's disbursement float, collection float, and net float, if the collected funds were available in one day instead of two.
Q: Required information Use the following information for the Quick Study below. (Algo) [The following…
A: WEIGHTED AVERAGE METHOD :— Under this method, equivalent units is calculated by adding equivalent…
Q: The following are summary financial statement data for a company for 2020 – 2022. ($ thousands)…
A: Answer:- 1. Return on assets = (Net income / Average total assets ) x 1002. Average total asset =…
Q: Accounting for long-term credit sales transactions utilizing notes receivable Multiple Choice A.…
A: In case of credit sales transactions utilizing notes will help us to classify income from sales and…
Q: Discuss the major approaches to accounting theory and their implications for financial reporting.
A: The process of obtaining and providing external stakeholders with financial data about a corporation…
Q: The following data were taken from the statement of realization and liquidation of ABC Corp. for the…
A: To calculate ending balance of cash, following is the formula:-Ending Balance of Cash = Beginning…
Q: Fair value of plan assets, Jan. 1, 2020 PBO Jan. 1, 2020, not including any items below PSC from…
A: Plan assets refer to the investments or assets held by a company's employee benefit plan, such as a…
Q: Determine the amount of cash collected at the time of making a sale 9f $2,999 worth of merchandise…
A: GST is goods and services tax . It is indirect tax imposed on customers.Invoice price includes…
Q: Please avoid solution image based thanku
A: The form of business established by two or more individuals is known as the Partnership form of…
Q: On October 15, 2022, East Company approved a share option plan for key executives. On January 1,…
A: To determine the amount that should be credited to share premium upon the exercise of options in…
Q: Cullumber company has these comparative balance sheet data:
A: The current ratio measures the organization's ability to meet the short-term liabilities due within…
Q: Lendrum Servicing's four employees are paid every two weeks. Atkins runs the office and the…
A: Net pay refers to an amount that is to the employees of the company after deducting all the expenses…
Q: The following are the transactions of Spotlighter, Incorporated, for the month of January. a.…
A: T-Accounts -T-Accounts are T-Shaped accounts called ledgers. These are used to prepare individual…
Q: Yellville Regional Hospital is a small hospital with two service departments and three revenue…
A: Step method - is one of the methods of cost allocations among direct method, and reciprocal method,…
Q: Required Information [The following information applies to the questions displayed below.] Annin…
A: The equivalent units are calculated on the basis of the percentage of the work completed during the…
Q: Vaughn, Inc produces two types of gas grill: a family model and deluxe model. Vaughn’s controller…
A:
Q: Compute the following measures for 2022. (Round earnings per share to 2 decimal places, e.g. 1.83…
A: Accounting ratios are the set of financial ratios which shows the efficiency, activity and…
Q: assume that as of December 31, 10,400 of the $2-off coupons issued during November has been redeemed…
A: To journalize the entry for the remaining unredeemed coupons, we need to record the estimated…
Q: Consolidation on date of acquisition - Equity method with noncontrolling interest and AAP Assume…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: ces Bluefield has decided to use an ABC costing system and has identified the following detailed…
A: Activity Based Costing :— It is one of the method of costing in which overhead is allocated between…
Q: iven the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION…
A: Hi studentSince there are multiple subparts, we will answer only first three subparts.Ratio analysis…
Q: This information is for Blossom Company for the year ended December 31, 2022. Cash received from…
A: Statement of Cash Flow -A statement of Cash Flow is a financial statement that includes the inflow…
Q: Aiden has a 35% capital interest in the Oro Partnership and is entitled to a yearly guaranteed…
A: A partnership is an official agreement between two or more people to run a business and share…
Q: Henna Company produces and sells, two products, Carvings and Mementos. It manufactures these…
A: Cost volume profit analysis is the technique used by management for decision-making. The methods…
Q: Thermal Rising, Incorporated, makes paragliders for sale through specialty sporting goods stores.…
A: Activity Based Costing (ABC Costing)Under the ABC Costing overheads are allocated on the basis of…
Q: Kayla Incorporated uses a job order cost system. Manufacturing overhead is applied on the basis of…
A: Total manufacturing costs :— It is the total costs incurred in the manufacturing of product during…
Q: The total assets and total liabilities (in millions) of ABC Corporation and XYZ Corporation follow:…
A: Stockholders equity :— It is the difference between total assets and total liabilities. Accounting…
Q: On March 1, 2024, Gold Examiner receives $147,000 from a local bank and promises to deliver 100…
A: Deferred revenue is that revenue which is received but not yet earned by the business. Once this is…
Q: The following budgeted production and sales information is for Flushing Company for the month of…
A: The sales revenue is calculated as sales units multiplied by sales price per unit. The sales revenue…
Q: Required information [The following information applies to the questions displayed below) Preble…
A: Lets understad the basics.Direct material price variance is a variance between the rate at which…
Q: U Inventory Number 7649 10824 Mink Clothing Inventory Listing December 31, 2023 Inventory…
A: Ending Inventory:The ending inventory is the amount of inventory that a business must report on its…
Q: In January 2007, the Status Quo Company was formed. Total assets were $502,000, of which $354,000…
A: Depreciation is reduction in the value of assets due to its use, wear or tear.Accumulated…
Q: ! Required information [The following information applies to the questions displayed below.] (a) (a)…
A: Sale of an Asset -The sale of assets is a transaction recorded by the organization on the sale of an…
Q: Celebes Corporation makes a product with the following standard costs: Direct Materials Direct Labor…
A: Material price variance :Difference between the actual costs and standard costs for the actual…
Q: Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and…
A: Perpetual inventory system:The system of material control on a continuous basis is while the…
Q: ability to pay short-term debts (does it have sufficient current assets to pay its current…
A: The financial health and stability of a company are crucial considerations for investors, creditors,…
Q: TB MC Qu. 12-94 Using the "nonworking" spouse method, what should be the life... Using the…
A: The "nonworking" spouse method is one approach to calculate life insurance needs based on the…
Q: Green Grow Incorporated (GGI) manufactures lawn fertilizer. Because of the product’s very high…
A: Total relevant cost of filling the special sales order: The relevant costs include the variable…
Q: A man would like to save to purchase a car. If he save RM9,000 every 6 months starting at the end of…
A: In order to calculate the amount accumulated at the end of a particular period, the future value…
Q: Cullumber Company purchased a new machine on October 1, 2024, at a cost of $186,000. The company…
A: Lets understand the basics.Depreciation is a reduction in value of asset due to wear and tear,…
Q: J-Mark Superstores provides the following selected financial data. Cash and cash equivalents…
A: Return on investment ratio is one of the ratio being used in business. Return on investment ratio…
Q: QUESTION 9 You plan on starting a lawn mowing business by investing $700 of your own money and…
A: The contribution margin provides valuable insights into a company's profitability, pricing…
Q: Loan Capital Drawings Cash at bank Cash at hand The following is the Trial Balance for J. Bright as…
A: Financial statements are those statements which are prepared at the end of accounting period. The…
Q: Sky Ltd acquired all the issued shares of Jupiter Ltd on 1 January 2019. The following transactions…
A: The journal entry can be defined as the process to record the business transaction in the accounting…
Q: 1. Estimate Product XT's break-even point in terms of sales units and sales dollars. (Do not round…
A: BREAKEVEN POINTBreak Even means the volume of production or sales where there is no profit or…
Q: Mercer Asbestos Removal Company removes potentially toxic asbestos insulation and related products…
A: Estimated cost of activity = Sum of (Cost categories *% allocation to activity)Activity rate is…
Q: 3. Using the following answer keys, you are to identify in which activity each of the transactions…
A: Cash flows refer to the movement of money in and out of a business or individual's financial…
Q: You give $2.1 million to your college in an irrevocable trust with the stipulation that you receive…
A: Tax principles refer to fundamental concepts and guidelines that form the basis of a fair and…
Q: The current sections of Pharoah Ine's balance sheets at December 31, 2021 and 2022, are presented…
A: Cash flow statement :— It is one of the financial statement that shows change in cash and cash…
Q: Consumption Ratios: Activity Rates Dienestar Company produces two types of get-well cards: scented…
A: Under Activity based costing method, the cost is allocated to each activity based on their…
Q: ompared to its peers, Nguyen... a. generates less profit per dollar of shareholders' equity.…
A: The accounting ratios makes the accounting figures or absolute results of the…
Each business day, on averagem a company writes checks totaling $36,000 to pay its suppliers. THe usual clearing time for the checks is four days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $47,000. The cash from the payments is available to the firm after two days.
Calculate the company's disbursement float, collection float, and net float
Calculate the company's disbursement float, collection float, and net float, if the collected funds were available in one day instead of two.
Step by step
Solved in 4 steps with 6 images
- Each business day, on average, a company writes checks totaling $37,500 to pay its suppliers. The usual clearing time for the checks is six days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $48,500. The cash from the payments is available to the firm after four days. a. Calculate the company’s disbursement float, collection float, and net float. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) b. Calculate the company's disbursement float, collection float, and net float, if the collected funds were available in two days instead of four. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)Each business day, on average, a company writes check totaling $38,500 to pay its suppliers. The usual clearing time for the checks is five days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $49,500. The cash from the payments is available to the firm after three days. a. Calculate the company's disbursement float, collection float, and net float. Disbursement float _____________ Collection float ________ Net float ___________ b. Calculate the company's disbursement float, collection float, and net float, if the collected funds were available in one day instead of three. Disbursement float _________ Collection float _____________ Net float _____________Each business day, on average, a company writes checks totaling $36,500 to pay its suppliers. The usual clearing time for the checks is five days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $47,500. The cash from the payments is available to the firm after three days. a. Calculate the company’s disbursement float, collection float, and net float. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) b. Calculate the company's disbursement float, collection float, and net float, if the collected funds were available in two days instead of three. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
- Each business day, on average, a company writes checks totaling $41,000 to pay its suppliers. The usual clearing time for the checks is three days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $52,000. The cash from the payments is available to the firm after two days. a. Calculate the company's disbursement float, collection float, and net float. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) b. Calculate the company's disbursement float, collection float, and net float, if the collected funds were available in one day instead of two. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)Each business day, on average, a company writes checks totaling $14000 to pay its suppliers. The usual clearing time for the checks is four days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $25000. The cash from the payments is available to the firm after two days. a. Calculate the company’s disbursement float, collection float, and net float.Each business day, on average, a company writes checks totaling $30,000 to pay its suppliers. The usual clearing time for the checks is four days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $50,000. The cash from the payments is available to the firm after two days. a) Calculate the company’s disbursement float and net float. b) How would your answer to part (a) change if the collected funds were available in one day instead of two?
- Suppose that the company has a balance sheet as follows at the beginning of the year. In that single year, the following transactions occur. One of the customers pays his 1.400 TL amount of debt by check. The company immediately pays its 1.200 TL amount of debt by endorsing these checks. After a while, another customer pays 900 TL cash for an outstanding debt. The company deposits 800 TL of this amount to its bank. Then, the company decides to pay one half of its debts via EFT, and the other half of its debts by issuing its own checks. Lastly, the payee cashes these checks from the bank. Assuming that there are no more transactions throughout the year, what would be the total asset at the end of that year? A) 1.000 TL B) 1.400 TL C) 1.800 TL D) 2.000 TLEach business day, on average, a company writes checks totaling $39,000 to pay its suppliers. The usual clearing time for the checks is three days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $50,000. The cash from the payments is available to the firm after two days. a. Calculate the company's disbursement float, collection float, and net float. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) b. Calculate the company's disbursement float, collection float, and net float, if the collected funds were available in one day instead of two. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) a. Disbursement float Collection float Net float b. Disbursement float Collection float Net floatYoxo Company writes checks totaling P3,000. These checks clear in 7 days. Simultaneously, the company receives P1,700. The cash is available in 2 days on average. Calculate the disbursement, the collection, and the net float.
- Each business day, on average, a company writes checks totaling $19,500 to pay its suppliers. The usual clearing time for the checks is four days. Meanwhile, the company is receiving payments from its customers each day in the form of checks totaling $24,600. The cash from the payments is available to the firm after two days. a. Calculate the company’s disbursement float, collection float, and net float. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations. ) b. If the collected funds were available in one day instead of two, what would be the company's disbursement float, collection float, and net float? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations.) a. Disbursement float ______ a. Collection float ______ a. Net float ______ b. Disbursement float ______ b. Collection float ______ b. Net float ______Each business day, on average, a company writes checks totaling $34,500 to pay its suppliers. The usual clearing time for the checks is five days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $45,500. The cash from the payments is available to the firm after three days.A company’s accounts receivable balance after posting net collections from customers is $150,000. Management has determined the following: $100,000 of the accounts that are 1 to 30 days past due are 2% uncollectible; and $50,000 of the accounts that are 31 to 60 days past due are 10% uncollectible. What is the net realizable value of the accounts receivable? $150,000 $148,000 $145,000 $143,000