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You have $130,000 on deposit with no outstanding.checks or uncleared deposits. One day you write a check for $54,000. a. Does this create a disbursement float or a collection float? What is your available balance? (Do not round intermediate calculations and round b. your answer to the nearest whole number, e.g., 32.) What is your book balance? (Do not round intermediate calculations and round your C. answer to the nearest whole number, e.g., 32.)

You have $130,000 on deposit with no outstanding.checks or uncleared deposits. One day you write a check for $54,000. a. Does this create a disbursement float or a collection float? What is your available balance? (Do not round intermediate calculations and round b. your answer to the nearest whole number, e.g., 32.) What is your book balance? (Do not round intermediate calculations and round your C. answer to the nearest whole number, e.g., 32.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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You have $130,000 on deposit with no outstanding.checks or uncleared deposits. One day you write a check for $54,000. a. Does this create a disbursement float or a collection float? What is your available balance? (Do not round intermediate calculations and round b. your answer to the nearest whole number, e.g.., 32.) What is your book balance? (Do not round intermediate calculations and round your C. answer to the nearest whole number, e.g., 32.) a. Type of float b. Available balance C. Book balance Prev De hero to coa
Transcribed Image Text:You have $130,000 on deposit with no outstanding.checks or uncleared deposits. One day you write a check for $54,000. a. Does this create a disbursement float or a collection float? What is your available balance? (Do not round intermediate calculations and round b. your answer to the nearest whole number, e.g.., 32.) What is your book balance? (Do not round intermediate calculations and round your C. answer to the nearest whole number, e.g., 32.) a. Type of float b. Available balance C. Book balance Prev De hero to coa
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