What is the average amount of the collection float

Assignment Help Financial Management

Reference no: EM131361360

On average, your firm receives 62 checks a day from customers. These checks, on average, are worth $39.90 each and clear the bank in 1.5 days. In addition, your firm disburses 38 checks a day with an average amount of $89.50. These checks clear your bank in 2 days. What is the average amount of the collection float?

Reference no: EM131361360

Questions Cloud

Complete the journal entry made by frylock to account : Complete the journal entry made by Frylock to account for an asset purchase of Meat Wad on 12/31/17 by entering the required amounts into the gray shaded cells. When correct, the cells will change color:

Z-score of someone who produces : Suppose the top 15 percent of producers get bonuses and the average production rate is 200 units with a standard deviation of 20. What would be the z-score of someone who produces 240 units?

Estimate the number of quantum states accessible : Using powers of 10, estimate the number of quantum states accessible to an outer electron on an atom, by estimating the size of an atom and knowing that typical binding energies are a few eV. (That is, if the kinetic energy is greater than a few e..

Probability of obtaining an offer from company : An person has applied for positions at company A,company B, and Company C. The probability of obtaining an offer from Company A is 0.4, from company B is 0.3, and from Company C is 0.6. Assume that the three job offers will be independent.

What is the average amount of the collection float : On average, your firm receives 62 checks a day from customers. These checks, on average, are worth $39.90 each and clear the bank in 1.5 days. In addition, your firm disburses 38 checks a day with an average amount of $89.50. These checks clear your ..

Provide detailed information about company performance : There is much information presented in these reports. The primary objective of this assignment is for each team member to become familiar with the depth of information available to them to make marketing decisions, and to accomplish that without..

Find the expression corresponding to the density of states : Using this, find the expression corresponding to the density of states of equation that is correct at all speeds. (Equations only give the answer for kinetic energy, εkin = ε - mc2, in the high- and low-speed extremes.)

Should be communicated to the audit committee : During your review of the sales accounts at 120340 Ontario Inc., you enquired of management about sales to customer account 23-524. The account accumulates sales to a related company. Clearly identify and explain the matters that should be communicat..

Define the canonical correlation statistical procedure : Your assignment is to write a 5-7 page discussion to: (1) define the canonical correlation statistical procedure, discuss how regression analysis plays a central role in canonical correlation, explain how to interpret the canonical correlation;

User Account

All Pages