2) At the beginning of the day, a company has a cash balance of $12,150 and no float. During the day, the company wrote three checks for $780, $1,115, and $1,480. The company also deposited checks for $1,345 and $2,160. What is the company's disbursement float? A) $130 B) $6,880 C) $8,645 D) $3,375 E) $3,505.

2) At the beginning of the day, a company has a cash balance of $12,150 and no float. During the day, the company wrote three checks for $780, $1,115, and $1,480. The company also deposited checks for $1,345 and $2,160. What is the company's disbursement float? A) $130 B) $6,880 C) $8,645 D) $3,375 E) $3,505.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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On a typical day, a company writes 85 checks worth a total of $10,800 that clear in 3.75 days. The company also collects 98 checks worth a total of $14,830 that clear in 3.25 days. Is this a collection or disbursement float? What is the float value?
At the beginning of the day, a company had a ledger balance and available balance of $3,860. During the day, the company wrote three checks for $350, $715, and $975. The company also deposited checks for $545 and $930. What is the company's collection float?
The following information relates to M Park Corporation for the month of March 2022:1. Cash balance per books, March 31 was $20,647.002. Deposits in transit, March 31 were $8,140.003. The March bank service charge was $34.00 and has not been recorded by the company.4. Outstanding checks, March 31 were $3,905.005. An electronic funds transfer (EFT) collected by the bank was $590. The collection has not been recorded by M Park Corporation.6. The bank made an error and recorded a $3,000 deposit twice.7. Cash balance per bank, March 31 was $19,968.00 After analyzing the data, prepare a bank reconciliation for M Park Corporation at March 31st. Reconcile the cash balance per the bank first and list items that increase the cash balance first. Also, round amounts to two decimal places.
On a typical day, a company writes 48 checks worth a total of $8,925 that clear in 3 days. The company also collects 60 checks worth a total of $9,940 that clear in 2.5 days. Is this a collection or disbursement float? What is the amount of the float?
On a typical day, a company writes 52 checks worth a total of $8,025 that clear in 2.25 days. The company also collects 64 checks worth a total of $10,140 that clear in 1.75 days. Is this a collection or disbursement float? What is the amount of the float? Multiple Choice O O A disbursement float of $2,115 A collection float of $311 A disbursement float of $311 A collection float of $468
A company shows an ending balance of $790. The bank statement shows a $14 service charge and an NSF check for $150. A $280 deposit is in transit, and outstanding checks total $310. What is their adjusted cash balance?
Assume the following facts for Taehyung Company: The month-end bank statement shows a balance of P40,000; outstanding checks total P2,000; a deposit of P8,000 is in transit at month-end; and a check for P400 was erroneously charged against the account by the bank. What is the correct cash balance at the end of the month?
The book balance of a cash in bank account of Stands Corp. is P1,090,00O. As of this date, outstanding checks totaled P60,000 while deposits in transit amount to P120,00O. The accountant of Stands determined that debit memos and credit memos for the month amounting to P30,000 and P200,000 has not yet been recorded. What is the adjusted cash in bank balance? * A.P920,000 B.P1,030,000 O C.P1,090,000 O D.P1,260,000
If the company accounting records indicate the following for the bank: Opening amount $10,000 Deposits 30,000 Cheques-22,000 Closing balance $18,000 The bank statement indicates that the opening amount is $10,000, the deposits are 22,000 and the cheques that have cleared are 2,000, what is the amount of the float?
3. Calculate the adjusted company book cash balance from the following information: On July 31st , after all transactions have been recorded, the balance in the company's Cash account has a balance of $27,202. A credit memo included with the bank statement indicates that the bank collected $770 on a note receivable. A debit memo included with the bank statement shows a $67 NSF check from a customer ,Noora. Examination of the checks on the bank statement with the entries in the accounting records reveals that check #3445 for the payment of an account payable was correctly written for $2,450, but was recorded in the accounting records as $2,540. Included with the bank statement was a debit memorandum in the amount of $25 for bank service charges. It has not been recorded on the company's books.
On November 30, Brown Sugar Plc has the below information related to cheques and cash: The bank balance as per the accounting records of the company, amounts to $42,500 and the bank balance as per the bank statement amounts to $37,758 Collected cash of $6244 on November 30 will be transferred to the Bank on December 1. In the Bank Statement there is a credit of $167 showed as Interest Earned for November. There are two outstanding cheques #921 of amount $964 and #925 of amount $1085. In the Bank Statement, there is a debit of $14 shown as Bank Service Charges, Non-Sufficient-Funds Cheque of Mr. Sweet with $700. Required: Prepare a Bank Reconciliation statement on November 30 Prepare the necessary journal entries after the preparation of the Bank Reconciliation
Modos Company has deposited $4,180 in checks received from customers. It has written $1,530 in checks to its suppliers. The initial bank and book balance was $470. If $3,550 of its customers' checks have cleared, but only $430 of its own, calculate its float.

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