Each business day, on average, a company writes checks totaling $19,500 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 intermediate calculations. ) b. If the collected funds were available in one day instead of two, what would be the company's disbursement float, collection float, and net float? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations.)   a. Disbursement float ______ a. Collection float ______ a. Net float ______   b. Disbursement float ______ b. Collection float ______ b. Net float ______

Q: Each business day, on averagem a company writes checks totaling $36,000 to pay its suppliers. THe…

A: As soon as a cheque is deposited, a bank credits the account of the consumer. However, the process…

Q: Prepare the adjusting entry to record the lifetime expected credit losses for this customer on 31…

A: On 31 December 20X7: Since, The company expects to be able to collect $26,000 from the customer, the…

Q: At the end of February, Williams Productions' accounting records reveal a balance for cash equal to…

A: Bank Reconciliation Statement :- Bank Reconciliation Statement means a statement showing the causes…

Q: The bank statement for Tetra Company contained the following items: a bank service charge of $10; a…

A: The correct options with proper explanation are as follows

Q: The financial manager of JAC Cosmetics is considering opening a lockbox in Pittsburgh. Checks…

A: Increase in per day cash balance due to  box is  (26,000*3days)…

Q: 3. Jumpdisk Co. writes checks averaging P15,000 a day, and it takes five days for these checks to…

A: Net float is calculated as the total of disbursement float and collection float, note that…

Q: At the beginning of the day, a company had a ledger balance and available balance of $3,860. During…

A: Collection float is the sum of deposited checks that are not yet available for use.

Q: A company recorded its August 15 receipts on its books as P142,000. However, the receipts were…

A: Lets understand the basics. When cash receipts recorded in the cash book at wrong amount then…

Q: The following Information Is avalable for Trinkle Company for the month of June: 1 The unadjusted…

A: The bank reconciliation statement is prepared to match the balance of cash book and pass book.

Q: At the end of February, Howard Productions’ accounting records reveal a balance for cash equal to…

A: 1. Reference:

Q: We have a set of 8000 data points representing bank customers' behavior over the past year (each…

A: The confidence of an association rule is a measure of the strength of the relationship between the…

Q: Each business day, on average, a company writes checks totaling $34,500 to pay its suppliers. The…

A: The net float refers to the difference of collection float and disbursement float

Q: The following information is available for Trinkle Company for the month of June: 1. The unadjusted…

A: It is a statement drawn up by the business to verify the cash book balance with the bank statement…

Q: On a typical day, a company writes 48 checks worth a total of $8,925 that clear in 3 days. The…

A: given, write check = $8925 clear days = 3 collects check = $9940 clear days = 2.5 days

Q: in the month of May, Kayak Company Inc. wrote checks in the amount of $81,000. In June, checks in…

A: The outstanding checks refers to the checks written by the company but not presented to bank for…

Q: Solve this problem

A: To determine the amount of outstanding checks at the end of November for Coler Company Inc., it is…

Q: In the month of March, Mazaya Company Inc wrote checks in the amount of R.O 45.620. In April, checks…

A: Outstanding checks at the end of March = Check written in March - Checks presented to the bank…

Q: Please provide solve

A: To determine the amount of outstanding checks at the end of November, we need to account for the…

Q: Each business day, on average, a company writes check totaling $38,500 to pay its suppliers. The…

A: The float discuss about the money within the banking system. Due to time gaps in registering a…

Q: Shannara Manufacturing writes 30 checks a day for an average amount of $497 each that generally…

A: The term "cheque collection float" describes the little delay that occurs between the time one…

Q: calculate its float.

A: Information Provided: Customer Cleared check = $3550 Checks deposited = $4180 Written checks =…

Q: You are the accountant for Georgia Company and you have recently received the bank statement for…

A: Bank reconciliation statement is prepared by almost every organization at a particular time. It is a…

Q: You have $130,000 on deposit with no outstanding.checks or uncleared deposits. One day you write a…

A: a) Does this create a disbursement float or a collection float? This will create Disbursement float…

Q: On a typical day, a company writes 85 checks worth a total of $10,800 that clear in 3.75 days. The…

A: Collection float cost = 14830*3.25 = $48197.5disbusrement float = 10800 * 3.75 =…

Q: For the months of January and February, Crane Ltd. recorded cash deposits in its books of $5,300 and…

A: Bank reconciliation statement is prepared by the management at a particular time period. It helps to…

Q: Each business day, on average, a company writes checks totaling $30,000 to pay its suppliers. The…

A: Answer a)

Q: Each business day, on average, a company writes checks totaling $39,000 to pay its suppliers. The…

A: Here,Total Written Checks is $39,000Clearing time for written checks is 3 daysTotal amount of…

Q: Your firm has an average receipt size of $90. A bank has approached you concerning a lockbox service…

A: Net present value refers to a method used for calculating the present value of cash outflows from…

Q: The LLYOD bank statement for the month of June shows that there is $13,300 difference with the cash…

A: Outstanding check: When company issue the check to the vendor/creditors but they do not present the…

Q: Next, consider the case of Windsor Flooring Company: The management at Windsor Flooring has…

A: A collection float is when a check is received but has not been reflected in the bank statement. A…

Q: You have $13,800 on deposit with no outstanding checks or uncleared deposits. Assume you deposit a…

A: Formula: Book balance = Available balance + Present check deposited.