Homework Answers
Disbursement Float = Amount of the check written by you = $4,300
Collection Float = Amount of the check deposited = -$4,900
Net Float = Disbursement Float + Collection Float = $4,300 - $4,900 = -$600
Add Answer to:
You have $21,400 on deposit with no outstanding checks or uncleared deposits. One day you write...
You have $141,000 on deposit with no outstanding checks or uncleared deposits. One day you write...
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? What is your available balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) What is your book balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Disbursement float a. Type of float b....
You have $143.000 on deposit with no outstanding checks or uncleared deposits. One day you write...
You have $143.000 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $41,000. a. Does this create a disbursement float or a collection float? What is your available balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) What is your book balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Type of float Available balance c. Book...
You have $138,000 on deposit with no outstanding checks or uncleared deposits. One day you write...
You have $138,000 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $46,000. a. Does this create a disbursement float or a collection float? What is your available balance? (Do not round intermediate calculations and round *** your answer to the nearest whole number, e.g., 32.) What is your book balance? (Do not round intermediate calculations and round your ** answer to the nearest whole number, e.g., 32.) Type of float b. Available...
You have $13,500 on deposit with no outstanding checks or uncleared deposits. Assume you deposit ...
You have $13,500 on deposit with no outstanding checks or uncleared deposits. Assume you deposit a check for $5,100. Does this create a disbursement float or a collection float? What is your available balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Available balance $ What is your book balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Book balance
You have $11,900 on deposit with no outstanding checks or uncleared deposits. Assume you deposit a...
You have $11,900 on deposit with no outstanding checks or uncleared deposits. Assume you deposit a check for $2,200. a. Does this create a disbursement or 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.) Float type Available balance b. Book balance
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 calculat
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.)PLEASE ANSWER ALL
Problem 17-1 Calculating Float (LO 1) You have $126,000 on deposit with no outstanding checks or...
Problem 17-1 Calculating Float (LO 1) You have $126,000 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $58,000. a. Does this create a disbursement float or a collection float? What is your available balance? (Do not round intermediate calculations and round ** your answer to the nearest whole number, e.g., 32.) What is your book balance? (Do not round intermediate calculations and round your ** answer to the nearest whole number, e.g.,...
Each business day, on average, a company writes checks totaling $13,600 to pay its suppliers. The...
Each business day, on average, a company writes checks totaling $13,600 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...
Each business day, on average, a company writes checks totaling $13,400 to pay its suppliers. The...
Each business day, on average, a company writes checks totaling $13,400 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 $24,400. 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...
I need help with the deposits in transit, outstanding checks, and that one joirnal entry please....
I need help with the deposits in transit, outstanding checks,
and that one joirnal entry please.
Teal Mountain Inc's bank statement from Main Street Bank at August 31, 2022, gives the following information Balance, August 1 $18,665 Bank debit memorandum: August deposits 71,265 Safety deposit box fee $85 Checks cleared in August 68,618 Service charge 1 110 Bank credit memorandum: Balance, August 31 21.222 Interest earned 105 A summary of the Cash account in the ledger for August shows the...
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? What is your available balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) What is your book balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Disbursement float a. Type of float b....
You have $143.000 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $41,000. a. Does this create a disbursement float or a collection float? What is your available balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) What is your book balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Type of float Available balance c. Book...
You have $138,000 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $46,000. a. Does this create a disbursement float or a collection float? What is your available balance? (Do not round intermediate calculations and round *** your answer to the nearest whole number, e.g., 32.) What is your book balance? (Do not round intermediate calculations and round your ** answer to the nearest whole number, e.g., 32.) Type of float b. Available...
You have $11,900 on deposit with no outstanding checks or uncleared deposits. Assume you deposit a check for $2,200. a. Does this create a disbursement or 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.) Float type Available balance b. Book balance
Problem 17-1 Calculating Float (LO 1) You have $126,000 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $58,000. a. Does this create a disbursement float or a collection float? What is your available balance? (Do not round intermediate calculations and round ** your answer to the nearest whole number, e.g., 32.) What is your book balance? (Do not round intermediate calculations and round your ** answer to the nearest whole number, e.g.,...
I need help with the deposits in transit, outstanding checks,
and that one joirnal entry please.
Teal Mountain Inc's bank statement from Main Street Bank at August 31, 2022, gives the following information Balance, August 1 $18,665 Bank debit memorandum: August deposits 71,265 Safety deposit box fee $85 Checks cleared in August 68,618 Service charge 1 110 Bank credit memorandum: Balance, August 31 21.222 Interest earned 105 A summary of the Cash account in the ledger for August shows the...
Most questions answered within 3 hours.
-
The average amount of money spent for lunch per person in the
college cafeteria is $7.09...
asked 15 seconds ago -
You follow the lab procedure and at the end of Part 4C, you used
an average...
asked 19 minutes ago -
Write 250-450 words, about the following: • Analyze how a
servant leader in your organization or...
asked 22 minutes ago -
3. American and Japanese workers can each produce 4 cars a
year. An American worker can...
asked 25 minutes ago -
On October 1, 20X1, a company purchased a piece of land by
agreeing to pay the...
asked 37 minutes ago -
Jamie is doing a survey at her school about whether the students
feel the cafeteria food...
asked 42 minutes ago -
What are the roles of 3' and 5' untranslated regions in
mRNAs?
asked 44 minutes ago -
A domestic television receives antenna delivers a sky noise
power of -105 dBm to a matched...
asked 42 minutes ago -
What do you think are the chemical reactions involved in the
breathalyzer tests administered to potentially...
asked 57 minutes ago -
A random sample of 120 observations produces a mean of
38.2 from a population with a...
asked 1 hour ago -
The average area of land burned by forest fires every year in
Canada is 2.5 million...
asked 1 hour ago -
36. The basic difference between government bureaus and market
firms is that bureaus:
a. can...
asked 1 hour ago