Ch 19 Problems 1,2,3,5 pages 631-632

Ch 19 Problems 1,2,3,5 pages 631-632 - xizhou problem1

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xi zhou problem 1 the jeremy corporation receives 80 checks totaling $156,000. There are delay 4 days on average. What  total $156,000  average delay 4 days assuming 30 days in a month average daily float (4*$156,000)/30  $20,800  problem 2 a company writes checks totaling $14,000  clearing time $4  days reveing(in the form of checks) $26,000  the cash from the payments is available to firm after 2 days a. the disbursement float= the average monthly checks written * the average number of days for the check the disbursement float=  4*$14,000  $56,000  the collection float=the average monthly checks received * the average number of days for the checks to collection float= $-26,000*2  $(52,000) net float=disbursement float=the collection float net float=$56000-$52000  $4,000  b. collection float=-$26000*1 ($26,000) net float=$56000-$26000  $30,000  problem 3 reveive an average in check per day
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Ch 19 Problems 1,2,3,5 pages 631-632 - xizhou problem1

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