oration receives checks that amount to P400,000 each day, whereas the amount of checks the company writes each day averages P350,000. It normally takes three days for incoming checks to clear through the banking system, and outgoing checks generally clear in four days. What is the firm’s net float? No decimal point. Use comma.
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Tokyo Corporation receives checks that amount to P400,000 each day, whereas the amount of checks the company writes each day averages P350,000. It normally takes three days for incoming checks to clear through the banking system, and outgoing checks generally clear in four days. What is the firm’s net float? No decimal point. Use comma.
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- 3. Jumpdisk Co. writes checks averaging P15,000 a day, and it takes five days for these checks to clear. The firm also receives checks in the amount of P17,000 per day, but the firm loses three days while its receipts are being deposited and cleared. The firm's net float is? С. Р32,000 E. P126,000 А. Р16,000 В. Р24,000 D. P75,000You 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 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?
- The Malibu Corporation has annual credit sales of $28 million. The average collection period is 30 days. What is the average investment in accounts receivable as shown on the balance sheet? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.)Company Deli writes checks averaging P30,000 per day that require 4 days to clear. By what amount will its book balance be less than its bank balance? a. P30,000.00b. P60,000.00c. P90,000.00d. P120,000.00e. P150,000.00You 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. )
- The Malibu Corporation has annual credit sales of $25 million. The average collection period is 27 days. What is the average investment in accounts receivable as shown on the balance sheet? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.) Average receivablesNext, consider the case of Windsor Flooring Company: The management at Windsor Flooring has determined that it takes an average of 8 days for checks the company writes to clear its bank account. Cash receipts from customers are reflected in Windsor's bank account an average of 2 days after the checks are received. On an average day, Windsor writes checks that total $10,000, and it receives checks from customers that total $20,000. Compute the collection float, the disbursement float, and the net float in dollars in the following table. (Note: By definition, collection float is always considered negative, and disbursement float is always positive. Both should be shown as positive numbers here. The net float, however, should be shown as positive if it is favorable and as negative if it is unfavorable.) Windsor Flooring Company Float Calculations Collection float Disbursement float Net float Given this information, you can deduce that on an average day, Windsor Flooring's bank balance is…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?
- You have been given the banking and financial data in the following table. Your boss wants you to calculate the M1 money multiplier (using the U.S. laws and regulations) but forgets to tell you which year the data pertain to. You call your boss and she tells you that the data is for 2018. In that case, you calculate the following for your boss: Currency in Circulation Demand Deposits Savings Deposits Small Time Deposits (Less than $100,000) Large Time Deposits (Greater than $100,000) Money Market Mutual Funds Deposits Owned by Individuals Money Market Mutual Funds Deposits Owned by Institutions Total Reserves in the Banking System a. m = 0.30 b. m = 0.50 O c. m = 0.75 d. m = 1.50 e. m = 2.50 $100 $1,000 $4,400 $2,000 $4,000 $1,000 $5,000 $2,100Assume the following facts for Taehyung Company: The month-end bank statement shows a balance of P40,000; outstanding checks total P2,000; a deposit of P8,000 is in transit at month-end; and a check for P400 was erroneously charged against the account by the bank. What is the correct cash balance at the end of the month?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