Problem 27-4 Float and Weighted Average Delay Your neighbor goes to the post office once a month and picks up two checks, one for $13,000 and one for $4,000. The larger check takes five days to clear after it is deposited; the smaller one takes four days. Assume 30 days in a month. 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 round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c-1. What are the average daily receipts? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. c-2. What is the weighted average delay? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Total float b. Average daily float c-1. Average daily receipts c-2. Weighted average delay days

Problem 27-4 Float and Weighted Average Delay Your neighbor goes to the post office once a month and picks up two checks, one for $13,000 and one for $4,000. The larger check takes five days to clear after it is deposited; the smaller one takes four days. Assume 30 days in a month. 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 round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c-1. What are the average daily receipts? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. c-2. What is the weighted average delay? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Total float b. Average daily float c-1. Average daily receipts c-2. Weighted average delay days

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter15: Managing Short-term Assets

Section: Chapter Questions

Problem 4PROB

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