On a typical day, a company writes 85 checks worth a total of $10,800 that clear in 3.75 days. The company also collects 98 checks worth a total of $14,830 that clear in 3.25 days. Is this a collection or disbursement float? What is the float value?
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- 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.)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?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?
- 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 O O A disbursement float of $2,115 A collection float of $311 A disbursement float of $311 A collection float of $468The 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.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. )
- 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
- Suppose that on the statement for a money market account, the initial balance was $7744.70, the statement was for 34 days, the final balance was $7770.84, and there were no deposits or withdrawals. Calculate the APY. Give your answer in percent to 2 decimal places.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. 2493.85On a 32 day notice deposit account, if you opt to withdraw funds sooner than the 32 day notice period, there is a fee involved. How are these fees reflected in the GL of the bank?