1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
posledela
3 years ago
7

Each business day, on average, a firm writes checks totaling $17000 to pay its suppliers. The usual clearing time for the checks

is 4 days. Meanwhile, the firm is receiving payments from its customers each day, in the forms of checks, totaling $22000. The cash from the payments is available to the firm after two days. What is the firm’s disbursement float, collection float, and net float?
Business
1 answer:
BaLLatris [955]3 years ago
7 0

Answer:

The disbursement float is $ 68,000, collection float is -$44,000 and net float is $24,000.

Explanation:

DISBURSEMENT FLOAT -

Formula that can be used to calculate the disbursement float is  =

Amount of average monthly check written X Average number of days it

                                                                             takes to clear check

Where, amount of average monthly check = $17,000

and average number of days for it to be cleared = 4 days

Disbursement float = $17,000 x 4

                                = $68,000

COLLECTION FLOAT -

Formula that can be used to calculate the collection float is  =

Amount of average monthly check received X Average number of days it

                                                                             takes to clear check

Where, amount of average monthly check =-$22,000

and average number of days for it to be cleared = 2 days

Collection float = -$22,000 x 2

                         = -$44,000

NET FLOAT -

Formula that can be used to calculate the NET float is  =

DISBURSEMENT FLOAT - COLLECTION FLOAT

= $68,000 - $44,000

= $24,000

You might be interested in
Tara has found a CTSO she’s interested in joining. How can Tara become a member of the CTSO? Tara can become a member of the CTS
ICE Princess25 [194]

membership fee. should be correct

3 0
3 years ago
Read 2 more answers
Scarcity is the most basic problem in economics true or false
Rasek [7]
True.

I hope this helps! :)
5 0
2 years ago
Read 2 more answers
Rangle contracts with Siena to buy a certain horse for her. Rangle makes a deal with Timberline Stables, the owner of the horse,
Ann [662]

Answer: indemnification

   

Explanation: The indemnification clause is essentially the other party's obligation to compensate your damages if they do something that hurts you or allows you to be sued by a third party.

Indemnifying and keeping innocent means the same thing — making it whole after a defeat. Usually, but not always, the obligation to indemnify is reconcilable with the contractual obligation to "keep harmless" or "save harmless.

Hence from the above we can conclude that Rangle has right of indemnification.

6 0
3 years ago
Recommendations for a successful pitch include all of these except:​
Inga [223]
The answer is letter a, it is because when doing a successful pitch or in order to achieve one, a person is not even required to stand behind a podium as it does not necessarily need or refer to a specific place to stand on when delivering a pitch but it is more important to show the product or service to attract the consumers.
8 0
3 years ago
Stephanie is a twelve-year-old who often assists neighbors on weekends by babysitting their children. Calculate the 2013 standar
Delicious77 [7]

Answer:

a) $1,200

b) $1,850

c) $6,200

Explanation:

First ,we are to determine Stephanie's claims based on different circumstances using the 2013 standard deduction

a) Reported $850 earnings from babysitting - claim 1,200

For 2013, the minimum standard deduction is $1,000, hence Stephanie is able to claim the greater of the following two: The minimum standard deduction of $1,000 or her earned income of $850 + $350 which is $1,200. Stephanie can claim $1,200

b) Reported $1500 - Claim $1,850

For 2013, the minimum standard deduction is $1,000, hence Stephanie is able to claim the greater of the following two: The minimum standard deduction of $1,000 or her earned income of $1500+ $350 which is $1,850. Stephanie can claim $1,850

c) reported $6,200 - Claim $6,200

For 2013, the minimum standard deduction is $1,000, hence Stephanie is able to claim the greater of the following two: The minimum standard deduction of $1,000 or her earned income of $6200+ $350 which is $6,550. However, she can only claim $6,200 because as a 2013 the maximum standard deduction for a single person which is her filing status is $6,200

8 0
3 years ago
Other questions:
  • A company has only two divisions: division a and division
    14·1 answer
  • Reactive firms do not consider exporting until their domestic market is saturated.
    13·1 answer
  • Which of the following items would be a way to manipulate the cash flow from operating activities amount on the statement of cas
    5·2 answers
  • Should the United States acced to the United Nations Law of the Seas without reservations?
    15·1 answer
  • In 1932, the U.S. government imposed a two-cent tax on checks written on deposits in bank accounts. This action would be expecte
    11·1 answer
  • cost formula is expressed as follows: Y = $17PH + $760,000 where PH is defined as process hours. What budgeted dollar amount wou
    6·1 answer
  • Morgana Company identifies three activities in its manufacturing process: machine setups, machining, and inspections. Estimated
    7·1 answer
  • Henry David Thoreau believed that a. economic independence was essential for freedom. b. government was the ultimate expression
    13·1 answer
  • What would you like to be when you grow up?
    11·1 answer
  • How do those who study workplace ergonomics help decrease workplace injury?.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!