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?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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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?

 

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