Ellcrys Corp. writes 67 checks a day for an average amount of $521 each. These checks...
Ellcrys Corp. writes 67 checks a day for an average amount of $521 each. These checks generally clear the bank 2.75 days after they are written. In addition, the firm generally receives 64 checks with an average amount of $598 each. Deposited amounts are available after an average of 2.25 days. Is this a disbursement or collection float? What is the value of the float?
a. A collection float of $9,882
b. A disbursement float of $9,882
c. A collection float of $11,677
d. A disbursement float of $7,735
e. A disbursement float of $11,677
Homework Answers
b. A disbursement float of $9,882
Disbursement float = 67 × $521 × 2.75 = $95,994
Collection float = 64 × $598 × 2.25 = $86,112
This is a disbursement float of $95,994 - $86,112 = $9,882
Add Answer to:
Ellcrys Corp. writes 67 checks a day for an average amount of
$521 each. These checks...
Marston Corp. writes 43 checks a day for an average amount of $458 each. These checks...
Marston Corp. writes 43 checks a day for an average amount of $458 each. These checks generally clear the bank 3.25 days after they are written. In addition, the firm generally receives 55 checks with an average amount of $547 each. Deposited amounts are available after an average of 2.75 days. What is the firm's disbursement float? $64,006 $82,734 $19,694 $30,085 $18,728
Marston Corp. writes 47 checks a day for an average amount of $474 each. These checks...
Marston Corp. writes 47 checks a day for an average amount of $474 each. These checks generally clear the bank 25 days after they are written. In addition, the firm generally receives 59 checks with an average amount of $559 each. Deposited amounts are available after an average of 2 days. What is the firm's disbursement float Η Ο Ο S10,267 Ο SS5695 Ο 565 962 Ο Silver Eyes, Inc., has an average collection period of 2375 days and its...
Spice it Up! writes 57 checks a day with an average amount of $289 each. These...
Spice it Up! writes 57 checks a day with an average amount of $289 each. These checks generally clear the bank in 2.7 days. In addition, the firm generally receives an average of $20,900 a day in checks that are deposited immediately. Deposited funds are available in an average of .5 days. What is the firm's net float? A. Net disbursement float of $34,027.10 B. Net disbursement float of $36,318 C. Net disbursement float of $34,750.30 D. Net collection float...
Madison Corner writes 23 checks a day for an average amount of $469 each. Madison Corner writes 23 checks a day f...
Madison Corner writes 23 checks a day for an average amount of
$469 each.
Madison Corner writes 23 checks a day for an average amount of $469 each. These checks generally clear the bank 3 days after they are written. In addition, the firm generally receives 60 checks with an average amount of $520 each. Deposited amounts are available after an average of 2.5 days. What is the amount of the firm's collection float? Multiple Choice Ο 570000 Ο 532.361...
ABC Company writes 305 checks a day for an average amount of $572 each. These checks...
ABC Company writes 305 checks a day for an average amount of $572 each. These checks generally clear the bank in 3 days. In addition, the firm generally receives an average of $139453 a day in checks that are deposited immediately. Deposited funds are available in 1 days. What is the firm's net float?
On a typical day, a company writes 66 checks worth a total of $8,850 that clear...
On a typical day, a company writes 66 checks worth a total of
$8,850 that clear in 2.25 days. The company also collects 78 checks
worth a total of $10,840 that clear in 1.75 days. Is this a
collection or disbursement float? What is the amount of the
float?
On a typical day, a company writes 66 checks worth a total of $8,850 that clear in 2.25 days. The company also collects 78 checks worth a total of $10,840 that...
On a typical day, a company writes 67 checks worth a total of $10.440 that clear...
On a typical day, a company writes 67 checks worth a total of $10.440 that clear in 275 days. The company also collects 80 checks worth a total of $14560 that clear in 225 days. Is this a collection or disbursement float? What is the float value? Multiple Choice Ο A collection fout of $4120 Ο A collection float of 54.207 Ο A disbursement float of $4,050 O A disbursement float of 54320 Ο O A collection float of $1.050
On a typical day, a company writes 54 checks worth a total of $8,440 that clear in 2.75 days. The company also collects...
On a typical day, a company writes 54 checks worth a total of $8,440 that clear in 2.75 days. The company also collects 66 checks worth a total of $10,240 that clear in 2.25 days. Is this a collection or disbursement float? What is the amount of the float?
On an average day, a company writes 59 checks worth a total of $6,450 that clear...
On an average day, a company writes 59 checks worth a total of $6,450 that clear in 3 days. The company also collects 81 checks worth a total of $8,990 that clear in 2.75 days. What is the company's average disbursement float?
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...
Marston Corp. writes 47 checks a day for an average amount of $474 each. These checks generally clear the bank 25 days after they are written. In addition, the firm generally receives 59 checks with an average amount of $559 each. Deposited amounts are available after an average of 2 days. What is the firm's disbursement float Η Ο Ο S10,267 Ο SS5695 Ο 565 962 Ο Silver Eyes, Inc., has an average collection period of 2375 days and its...
Madison Corner writes 23 checks a day for an average amount of
$469 each.
Madison Corner writes 23 checks a day for an average amount of $469 each. These checks generally clear the bank 3 days after they are written. In addition, the firm generally receives 60 checks with an average amount of $520 each. Deposited amounts are available after an average of 2.5 days. What is the amount of the firm's collection float? Multiple Choice Ο 570000 Ο 532.361...
On a typical day, a company writes 66 checks worth a total of
$8,850 that clear in 2.25 days. The company also collects 78 checks
worth a total of $10,840 that clear in 1.75 days. Is this a
collection or disbursement float? What is the amount of the
float?
On a typical day, a company writes 66 checks worth a total of $8,850 that clear in 2.25 days. The company also collects 78 checks worth a total of $10,840 that...
On a typical day, a company writes 67 checks worth a total of $10.440 that clear in 275 days. The company also collects 80 checks worth a total of $14560 that clear in 225 days. Is this a collection or disbursement float? What is the float value? Multiple Choice Ο A collection fout of $4120 Ο A collection float of 54.207 Ο A disbursement float of $4,050 O A disbursement float of 54320 Ο O A collection float of $1.050
Most questions answered within 3 hours.
-
Le Terroir Winery is considering an expansion project to produce
fine wines. The trial expansion will...
asked 2 minutes ago -
The Bahraini public budget experiences deficit in the last
seven years, what are procedures are taken...
asked 9 minutes ago -
You invested $30,000 in a mutual fund at the beginning of the
year when the NAV...
asked 12 minutes ago -
Would you expect the price elasticity of supply for guitars to
be more inelastic in the...
asked 14 minutes ago -
A snowmobile is originally at the point with position vector
30.1 m at 95.0° counterclockwise from...
asked 14 minutes ago -
MAN3240 Organizational Behavior
In one to two paragraphs
6.) How can understanding emotions make me more...
asked 22 minutes ago -
Identify one individual who, in your opinion, is an excellent
leader. List the qualities that this...
asked 20 minutes ago -
For the data set shown below, complete parts (a) through (d)
below. x 3 4 5...
asked 26 minutes ago -
A university administrator working in student housing wants to
determine if the percentage of students residing...
asked 40 minutes ago -
3). Describe human population growth that has occurred in the
past 400 years. Use terms learned...
asked 37 minutes ago -
A
projectile is blue at a target. The distance from the point of
impact to the...
asked 1 hour ago -
Given a 32 bit processor, with 2 MB of physical RAM split into 512
frames. What...
asked 51 minutes ago