Problem 27-4 Float and Weighted Average Delay Your neighbor goes to the post office once a month and picks up two checks, one for $13,000 and one for $4,000. The larger check takes five days to clear after it is deposited; the smaller one takes four days. Assume 30 days in a month. What is the total float for the month? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the average daily float? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c-1. What are the average daily receipts? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. c-2. What is the weighted average delay? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Total float b. Average daily float c-1. Average daily receipts c-2. Weighted average delay days
Problem 27-4 Float and Weighted Average Delay Your neighbor goes to the post office once a month and picks up two checks, one for $13,000 and one for $4,000. The larger check takes five days to clear after it is deposited; the smaller one takes four days. Assume 30 days in a month. What is the total float for the month? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the average daily float? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c-1. What are the average daily receipts? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. c-2. What is the weighted average delay? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Total float b. Average daily float c-1. Average daily receipts c-2. Weighted average delay days
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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At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.
Accounts Receivable
The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.
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Transcribed Image Text:Problem 27-4 Float and Weighted Average Delay
Your neighbor goes to the post office once a month and picks up two checks, one for
$13,000 and one for $4,000. The larger check takes five days to clear after it is
deposited; the smaller one takes four days. Assume 30 days in a month.
What is the total float for the month? (Do not round intermediate calculations and
round your answer to the nearest whole number, e.g., 32.)
b. What is the average daily float? (Do not round intermediate calculations and round
your answer to 2 decimal places, e.g., 32.16.)
c-1. What are the average daily receipts? (Do not round intermediate calculations and
round your answer to 2 decimal places, e.g., 32.16.)
c-2. What is the weighted average delay? (Do not round intermediate calculations and
round your answer to 2 decimal places, e.g., 32.16.)
a.
a. Total float
b. Average daily float
c-1. Average daily receipts
c-2. Weighted average delay
days
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