On a typical day, a company writes 52 checks worth a total of $8,025 that clear in 2.25 days. The company also collects 64 checks worth a total of $10,140 that clear in 1.75 days. Is this a collection or disbursement float? What is the amount of the float? Multiple Choice A disbursement float of $2,115 A collection float of $311 A disbursement float of $311 A collection float of $468

On a typical day, a company writes 52 checks worth a total of $8,025 that clear in 2.25 days. The company also collects 64 checks worth a total of $10,140 that clear in 1.75 days. Is this a collection or disbursement float? What is the amount of the float? Multiple Choice A disbursement float of $2,115 A collection float of $311 A disbursement float of $311 A collection float of $468

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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At the beginning of the day, a company has a cash balance of $11,300 and no float. During the day, the company wrote three checks for $610, $945, and $1,310, The company also deposited checks for $1,175 and $1,820. What is the company's disbursement float? Multiple Choice O O O $2.995 $2.865 $8.305 $5.860 $130
On a typical day, a company writes 48 checks worth a total of $8,925 that clear in 3 days. The company also collects 60 checks worth a total of $9,940 that clear in 2.5 days. Is this a collection or disbursement float? What is the amount of the float?
At the beginning of the day, a company had a ledger balance and available balance of $3,860. During the day, the company wrote three checks for $350, $715, and $975. The company also deposited checks for $545 and $930. What is the company's collection float?
If the company accounting records indicate the following for the bank: Opening amount $10,000 Deposits 30,000 Cheques-22,000 Closing balance $18,000 The bank statement indicates that the opening amount is $10,000, the deposits are 22,000 and the cheques that have cleared are 2,000, what is the amount of the float?
You have $19,700 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $4,300 and then deposit a check for $4,600. What are your disbursement, collection, and net floats? Note: 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. Disbursement float Collection float Net float
You have $141,000 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $43,000. a. Does this create a disbursement float or a collection float? b. What is your available balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c. What is your book balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
2) At the beginning of the day, a company has a cash balance of $12,150 and no float. During the day, the company wrote three checks for $780, $1,115, and $1,480. The company also deposited checks for $1,345 and $2,160. What is the company's disbursement float? A) $130 B) $6,880 C) $8,645 D) $3,375 E) $3,505.
You have $13,800 on deposit with no outstanding checks or uncleared deposits. Assume you deposit a check for $5,400 . a. Does this create a disbursement float or a collection float? b. What is your available balance? (Do not round Intermediate calculations and round your answer to the nearest whole number, e.g. 32.) c. What is your book balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. )
Problem A: Net FloatABC Corporation has daily cash collections of P50,000 and daily cash disbursements of P60,000. A customer check is creditedon the bank statement an average of 5 days from the issue date. Company checks remain outstanding an average of 3 daysfrom the issue date.Required:1. Collection float2. Disbursement float3. Net Float (Place answer in parenthesis if unfavorable.)
On December 15, you recieved your bank statement showing a balance of $2270.32. Your checkbook shows a balance of $2433.33. Outstanding checks are $225.50 and $356.20. The account earned $77.52. Deposits in transit amount to $805.23, and there is a service charge of $17.00. Calculate the reconciled balance. options are: a. 163.01 b. 2046.79 c. 2372.81 d. 2493.85
7. Your checkbook shows you have a $10,000 balance in your account. You write checks totaling $4,000 and make a deposit of $6,000. What is your disbursement float? 8. Your checkbook shows you have $10,000 balance in your account. You write checks totaling $4,000 and make a deposit of $6000 What is your collection float?
The deposit in transit balance for the previous and current months are P200,000 and P100,000, respectively. If the total deposits acknowledged by the bank is P1,100,000 compute the book’s total deposits.

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