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Finger [1]
3 years ago
14

alculating Net Float [LO1] Each business day, on average, a company writes checks totaling $17,000 to pay its suppliers. The usu

al clearing time for the checks is four days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $22,000. The cash from the payments is available to the firm after two days
Business
1 answer:
Grace [21]3 years ago
5 0

Answer:

A.Collection Float ($44,000)

Disbursements Float $68,000

Net Float $24,000

B.Collection Float ($44,000)

Disbursement Float $68,000

Net Float $24,000

Explanation:

A. Calculation the company's disbursement float, collection float, and net float

Per Day Clearing Days Float

Collection Float ($22,000) ×2days = ($44,000)

Disbursements Float $17,000 × 4days = $68,000

Net Float $24,000

($68,000-$44,000)

B. Calculation for the company's disbursement float, collection float, and net float if the collected funds were available in two days instead of four

Per Day Clearing Days Float

Collection Float ($22,000) ×2 days =($44,000)

Disbursement Float $41,500 ×4days= $68,000

Net Float $24,000

($68,000-$44,000)

Hence,

A.Collection Float ($44,000)

Disbursements Float $68,000

Net Float $24,000

B.Collection Float ($44,000)

Disbursement Float $68,000

Net Float $24,000

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Explanation:

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3 years ago
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1 year ago
How is goodwill calculated? A. The amount paid to purchase a business in excess of the market value of its net assets. B. An est
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For example, If a business is purchased for $100 whose net assets, which are Total assets less total liabilities, are worth $80. Then the goodwill is the $20 that is the difference of the amount paid to purchase the business and the value of its net assets.

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Answer:

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