Solution-Determining the amount of the collection float

Determining the amount of the collection float

Reference no: EM131402108

As of this morning, your firm had a ledger balance of $3,532 with no outstanding deposits or checks. Today, your firm deposited 4 checks in the amount of $274 each and wrote a check in the amount of $701. What is the amount of the collection float as of the end of the day?

Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box.

Reference no: EM131402108

Questions Cloud

How technology in the laboratory has been used medical care : Your initial outline for your course project paper is due this module. Prepare a 1-2 page document containing your outline. Your outline will be the skeleton from which you will write your project. Your outline should contain an idea for your intr..

Growth factor for the entire week : If the Dow Jones Industrial Average increases by 1.2% on Monday, by 0.7% on Tuesday, 2.4% on Wednesday, 1.8% on Thursday, and 0.2% on Friday, what is the growth factor for the entire week?

Determining the real risk-free rate : You read in The Wall Street Journal that 30-day T-bills are currently yielding 5.4%. Your brother-in-law, a broker at Safe and Sound Securities, has given you the following estimates of current interest rate premiums:

Description of the communicable disease : Description of the communicable disease (causes, symptoms, mode of transmission, complications, treatment) and the demographic of interest (mortality, morbidity, incidence, and prevalence).Describe the determinants of health and explain how those ..

Determining the amount of the collection float : As of this morning, your firm had a ledger balance of $3,532 with no outstanding deposits or checks. Today, your firm deposited 4 checks in the amount of $274 each and wrote a check in the amount of $701. What is the amount of the collection float..

What is the purpose genetic engineering of domestic animals : What is the purpose genetic engineering of crop plants and domestic animals? Briefly explain how GMOs are created. What foods in your supermarket contain GMOs? Are foods that contain GMOs safe for human consumption?

Determining the inventory turnover : ABC Corporation currently has an inventory turnover of 11.84, a payables turnover of 14.76, and a receivables turnover of 10.84. How many days are in the cash cycle?

Firm to collect its accounts receivable : ABC Company has annual sales of $460,319 and cost of goods sold of $198,600. The average accounts receivable balance is $119,858. How many days on average does it take the firm to collect its accounts receivable? Assume 365 days.

Select an online article and summarize the article : Select an online article (professional health care source) or professional website which focuses on infectious diseases of global concern.Summarize the article, and explain its significance to the course content and global health. Include the lin..

User Account

All Pages

Determining the amount of the collection float

Reference no: EM131402108

Reference no: EM131402108

Questions Cloud

Reviews

Write a Review

Finance Basics Questions & Answers

Financial reporting and analysis

A report on financial accounting

Describe the types of financial ratios

Differences between sole proprietorship and corporation

Prepare a cash budget statement

What are the implied interest rates

State pricing theory and no-arbitrage pricing theory

Small business administration

Effect of financial leverage

Evaluate the basis for the payment to the lender

Importance of opps, ipps, mpfs and dmepos

Time value of money

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT