User Account

All Pages

Should rogers switch to the wire transfer system

Assignment Help Financial Accounting
Reference no: EM132603988

Currently Rogers Corporation is using a decentralized collection system whereby customers mail their checks to one of the firm's ten regional locations. Its annual sales are $200 million. Checks are deposited each business day in a local bank and the amount of the deposit is sent to the firm's concentration bank in Dallas. The average time between deposit in the local bank and the availability of those funds, in Dallas, to Rogers is 5 days. Rogers has determined that the use of wire transfers would reduce the float by three days, but the transfer will cost $25.00.

Question 1: If transfers will be made on each of the 250 days that banks are open, should Rogers switch to the wire transfer system? Assume that Rogers can earn 6% on the funds released through this more efficient transfer.

Reference no: EM132603988

Questions Cloud

Is Hogan correct in his way of thinking : Hogan claims he will have "less income and more expenses, so he will owe less in taxes." Is Hogan correct in his way of thinking
Prepare the required volume and concentration of buffer : What is the volume of 50X buffer that is needed to prepare the required volume and concentration of buffer.
How do you see the given being applied in your workplace : According to the textbook, nurses in various settings are adopting a research-based (or evidence-based) practice that incorporates research findings into their.
About current and emerging issues : Analyze and think critically about current and emerging issues in the US healthcare system and the policy environment in which the system operates.
Should rogers switch to the wire transfer system : Currently Rogers Corporation, If transfers will be made on each of the 250 days that banks are open, should Rogers switch to the wire transfer system?
Question - Journalize and post transactions : Question - Journalize and post transactions, under the equity method. Determine the amount to be reported as an investment in Helbert stock at December 31
What if contraindications identified for patient with liver : It has become common practice for people to supplement their diets with pills, smoothies, teas, herbals, and other complementary practices. Select two from the.
Explain the significance of financing with accounts payable : Explain the significance of financing with accounts payable. Also, explain the rationale of taking a cash discount, such as 2/10, net/30.
How dividend revenue and gain on sale should be reported : Journalize transactions. Explain how dividend revenue and the gain (loss) on sale should be reported in the income statement

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd