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Problem 27-6 Using Weighted Average Delay A mail-order firm processes 6,300 checks per month. Of these, 70 percent are for $53 and 30 percent are for $85. The $53 checks are delayed two days on avera...
A mail-order firm processes 4,500 checks per month. Of these, 60 percent are for $35 and...
A mail-order firm processes 4,500 checks per month. Of these, 60 percent are for $35 and 40 percent are for $67. The $35 checks are delayed two days on average; the $67 checks are delayed three days on average. Assume 30 days per month. a-1. What is the average daily collection float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) a-2. How do you interpret your answer? b-1. What is the weighted...
A mail-order firm processes 5,600 checks per month. Of these, 60 percent are for $46 and...
A mail-order firm processes 5,600 checks per month. Of these, 60 percent are for $46 and 40 percent are for $78. The $46 checks are delayed three days on average; the $78 checks are delayed four days on average. Assume 30 days in a month. a-1. What is the average daily collection float? (Do not round intermediate calculations.) Average daily collection float a-2. How do you interpret your answer? (Do not round intermediate calculations.) On average, there is that is...
Purple Feet Wine, Inc., receives an average of $14,500 in checks per day. The delay in...
Purple Feet Wine, Inc., receives an average of $14,500 in checks per day. The delay in clearing is typically three days. The current interest rate is .017 percent per day. a. What is the company's float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Company's float $ b. What is the most the company should be willing to pay today to eliminate its float entirely? (Do not round intermediate calculations and round...
e. How much should the firm be willing to pay to reduce the weighted average float...
e.
How much should the firm be willing to pay to reduce the
weighted average float to 1.5 days? (Do not round
intermediate calculations.)
A mail-order firm processes 6,100 checks per month. Of these, 60 percent are for $51 and 40 percent are for $83. The $51 checks are delayed two days on average; the $83 checks are delayed three days on average. Assume 30 days in a month. a-1. What is the average daily collection float? (Do not round...
Your neighbor goes to the post office once a month and picks up two checks, one...
Your neighbor goes to the post office once a month and picks up two checks, one for $14,300 and one for $5,300. The larger check takes four days to clear after it is deposited; the smaller one takes three days. Assume 30 days in a month. a. What is the total float for the month? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the average daily float? (Do not...
Problem 17-5 Calculating Float (LO 1) In a typical month, the Pier Corporation receives 100 checks...
Problem 17-5 Calculating Float (LO 1) In a typical month, the Pier Corporation receives 100 checks totaling $132,000. These are delayed five days on average. Assume 30 days in a month. What is the average daily float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Average daily float
Your neighbor goes to the post office once a month and picks up two checks, one...
Your neighbor goes to the post office once a month and picks up two checks, one for $14,300 and one for $5,300. The larger check takes four days to clear after it is deposited; the smaller one takes three days. Assume 30 days in a month. a. What is the total float for the month? b. What is the average daily float? (Round your answer to 2 decimal places, e.g.. 32.16.) c-1. What are the average daily receipts? (Do not...
In a typical month, the Monk Corporation receives 90 checks totaling $132,000. These are delayed three...
In a typical month, the Monk Corporation receives 90 checks totaling $132,000. These are delayed three days on average. What is the average daily float? Assume 30 days in a month. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
The firm receives an average of $20,000 in checks per day. The weighted average delay in...
The firm receives an average of $20,000 in checks per day. The weighted average delay in clearing the checks received is 3 days. Meanwhile, the firm writes an average of $17,000 in checks to pay its suppliers per day. The usual clearing time for the checks the firm wrote is 2 days. The current interest rate is 0.015 percent per day. What is the most the firm should be willing to pay today (in a lump sum today) to eliminate...
The firm receives an average of $20,000 in checks per day. The weighted average delay in...
The firm receives an average of $20,000 in checks per day. The weighted average delay in clearing the checks received is 3 days. Meanwhile, the firm writes an average of $17,000 in checks to pay its suppliers per day. The usual clearing time for the checks the firm wrote is 2 days. The current interest rate is 0.015 percent per day. What is the most the firm should be willing to pay today (in a lump sum today) to eliminate...
A mail-order firm processes 4,500 checks per month. Of these, 60 percent are for $35 and 40 percent are for $67. The $35 checks are delayed two days on average; the $67 checks are delayed three days on average. Assume 30 days per month. a-1. What is the average daily collection float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) a-2. How do you interpret your answer? b-1. What is the weighted...
A mail-order firm processes 5,600 checks per month. Of these, 60 percent are for $46 and 40 percent are for $78. The $46 checks are delayed three days on average; the $78 checks are delayed four days on average. Assume 30 days in a month. a-1. What is the average daily collection float? (Do not round intermediate calculations.) Average daily collection float a-2. How do you interpret your answer? (Do not round intermediate calculations.) On average, there is that is...
e.
How much should the firm be willing to pay to reduce the
weighted average float to 1.5 days? (Do not round
intermediate calculations.)
A mail-order firm processes 6,100 checks per month. Of these, 60 percent are for $51 and 40 percent are for $83. The $51 checks are delayed two days on average; the $83 checks are delayed three days on average. Assume 30 days in a month. a-1. What is the average daily collection float? (Do not round...
Your neighbor goes to the post office once a month and picks up two checks, one for $14,300 and one for $5,300. The larger check takes four days to clear after it is deposited; the smaller one takes three days. Assume 30 days in a month. a. What is the total float for the month? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the average daily float? (Do not...
Problem 17-5 Calculating Float (LO 1) In a typical month, the Pier Corporation receives 100 checks totaling $132,000. These are delayed five days on average. Assume 30 days in a month. What is the average daily float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Average daily float
Your neighbor goes to the post office once a month and picks up two checks, one for $14,300 and one for $5,300. The larger check takes four days to clear after it is deposited; the smaller one takes three days. Assume 30 days in a month. a. What is the total float for the month? b. What is the average daily float? (Round your answer to 2 decimal places, e.g.. 32.16.) c-1. What are the average daily receipts? (Do not...
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