a) Mira has RM72,909 on deposit with no outstanding cheques or uncleared deposits. If Miradeposit a cheque for RM111,230, does this create a disbursement float or a collection float? Whatis Mira's available balance? What is Mira's book balance?

Disbursement float refers to the time period between when a payment is initiated by a company and…

Answered: Mira has RM72,909 on deposit with no…

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

Section: Chapter Questions

Problem 1PS

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Similar questions

idiyah Co. estimates that RO 6,500 of its accounts receivable to be uncollectible. If Allowance for Doubtful Accounts has a RO 200 debit balance, the company should record a elect one: O a. None of the answers are correct O b. debit to Bad Debt Expense for RO 5,300. O c credit to Allowance for Doubtful Accounts for RO 6,500. O d. debit to Allowance for Doubtful Accounts for RO 5,300. O e. credit to Bad Debt Expense for RO 7,700.
Suppose you have a $10 bill in your pocket. How is this money counted in the Fed balance sheet? A. Asset B. The money does not appear on the Fed balance sheet C. Liability
True (t) or False (f) ______ Savings accounts are usually classified as cash on the balance sheet.
Ss.224.
At the local TD Bank ATM, there is a notice posted. It reads as follows: "Non-customers will be charged a fee of $3 per transaction for withdrawals at this ATM". Where would the fee income from this ATM show up in TD Bank's income statement? A) It would be included in its net interest income B) It would be included in its income from proprietary trading of securities C) It would be included in its income from sale of assets D) It would be included in its non-interest income
When referring to a note receivable or promissory note a.the note cannot be factored to another party b.the note may be used to settle an account receivable c.the note is not considered a formal credit instrument d.the maker is the party to whom the money is due
Please provide correct solution
In the balance sheet, accounts Receivable, where did you get 489,555 from?
A cheque drawn by the business from RM609 for payment of a liability was recorded in the journal as RM906. This item would be included in the bank reconciliation as alan Deduction by the bank Addition by the bank O Deduction by the business O Addition by the business
Charlston Inc. has accounts receivable of $110,000 in an allowance for doubtful accounts of $17,000. If it writes off a customer account balance of $1700 what is the amount of its net accounts receivable? A) 93,000 B) 108,300 C) 91,300 D) 110,000
Which of the following statements is false? a) An entry to write off an uncollectible account does not change the net realizable value of accounts receivable. b)The issuer ofa note records a receivable on their books on the date the note is issued. c)Using the allowance method of accounting for accounts receivables follows the matching concept. d)Recording an accrued asset for interest increases stockholders' equity.
GH Traders wrote off R1 750 which represented 20% of the amount owed by a debtor. The debtor settled the balance on her account by means of an electronic funds transfer. These transactions have not yet been recorded. Which of the following statements is correct in respect of the above transactions? OA. The Debtors Control account will decrease by R7 000. OB. The debtor owed R8 750. OC. The Bank account will be credited with R7 000. OD. The amount received from the debtor was R1 400.

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Mira has RM72,909 on deposit with no outstanding cheques or uncleared deposits. If Mira deposit a cheque for RM111,230, does this create a disbursement float or a collection float? What is Mira's available balance? What is Mira's book balance?