Cash surplus(deficit) = $1,213 − 260 − 1,000
Cash surplus(deficit) = −$47
The firm needs to borrow $47.
150) D
Cash surplus (deficit) = $1,211 + 4,209 − 3,807 − 1,200
Cash surplus (deficit) = $413
The firm will repay $413 this quarter.
151) B
Loan balance = $527 + 31 − 211
Loan balance = $347
Student name:
1) 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 $330,$695, and $955. The company
also deposited checks for $505 and $910. What is the company's collection float?
1)
A) $2,445
B) $1,980
C) $565
D) $1,415
E) $3,395
Question Details
Difficulty : 1 Basic
Learning Objective : 19-02 Explain how firms manage their cash and some of the collection, concentrat
Section : 19.2 Understanding Float
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Topic : Float costs and management
,2) On an average day, a company writes 47 checks worth a total of $7,900 that clear in 2.75
days. The company also collects 59 checks worth atotal of $9,890 that clear in 2.25 days. What is
the company's average collection float?
2)
A) $9,890
B) $21,725
C) $22,253
D) $17,790
E) $7,900
Question Details
Difficulty : 1 Basic
Learning Objective : 19-02 Explain how firms manage their cash and some of the collection, concentrat
Section : 19.2 Understanding Float
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Topic : Float costs and management
3) Madison Corner writes 23 checks a day for an average amount of $469 each. These
checks generally clear the bank 3 days after they are written. In addition, the firm generally
receives 60 checks with an average amount of $520 each. Deposited amounts are available after
an average of 2.5 days. What is the amount of the firm's collection float?
3)
A) $31,200
B) $78,000
C) $45,639
D) $10,787
E) $32,361
,Question Details
Difficulty : 1 Basic
Learning Objective : 19-02 Explain how firms manage their cash and some of the collection, concentrat
Section : 19.2 Understanding Float
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Topic : Float costs and management
4) At the beginning of the day, a company has a cash balance of $11,250 and no float.
During the day, the company wrote three checks for $600,$935, and $1,300. The company also
deposited checks for $1,165 and $1,800. What is the company's disbursement float?
4)
A) $2,835
B) $130
C) $2,965
D) $8,285
E) $5,800
Question Details
Difficulty : 1 Basic
Learning Objective : 19-02 Explain how firms manage their cash and some of the collection, concentrat
Section : 19.2 Understanding Float
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Topic : Float costs and management
5) On an average day, a company writes 48 checks worth a total of $6,175 that clear in 3.75
days. The company also collects 70 checks worth atotal of $8,440 that clear in 3.25 days. What is
the company's average disbursement float?
5)
, A) $6,175
B) $23,156
C) $8,440
D) $27,430
E) $18,990
Question Details
Difficulty : 1 Basic
Learning Objective : 19-02 Explain how firms manage their cash and some of the collection, concentrat
Section : 19.2 Understanding Float
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Topic : Float costs and management
6) Marston Corporation writes 43 checks a day for an average amount of $458 each. These
checks generally clear the bank 3.25 days after they are written. In addition, the firm generally
receives 55 checks with an average amount of $547 each. Deposited amounts are available after
an average of 2.75 days. What is the firm's disbursement float?
6)
A) $19,694
B) $82,734
C) $18,728
D) $64,006
E) $30,085
Question Details
Difficulty : 1 Basic
Learning Objective : 19-02 Explain how firms manage their cash and some of the collection, concentrat
Section : 19.2 Understanding Float
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Topic : Float costs and management
Cash surplus(deficit) = −$47
The firm needs to borrow $47.
150) D
Cash surplus (deficit) = $1,211 + 4,209 − 3,807 − 1,200
Cash surplus (deficit) = $413
The firm will repay $413 this quarter.
151) B
Loan balance = $527 + 31 − 211
Loan balance = $347
Student name:
1) 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 $330,$695, and $955. The company
also deposited checks for $505 and $910. What is the company's collection float?
1)
A) $2,445
B) $1,980
C) $565
D) $1,415
E) $3,395
Question Details
Difficulty : 1 Basic
Learning Objective : 19-02 Explain how firms manage their cash and some of the collection, concentrat
Section : 19.2 Understanding Float
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Topic : Float costs and management
,2) On an average day, a company writes 47 checks worth a total of $7,900 that clear in 2.75
days. The company also collects 59 checks worth atotal of $9,890 that clear in 2.25 days. What is
the company's average collection float?
2)
A) $9,890
B) $21,725
C) $22,253
D) $17,790
E) $7,900
Question Details
Difficulty : 1 Basic
Learning Objective : 19-02 Explain how firms manage their cash and some of the collection, concentrat
Section : 19.2 Understanding Float
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Topic : Float costs and management
3) Madison Corner writes 23 checks a day for an average amount of $469 each. These
checks generally clear the bank 3 days after they are written. In addition, the firm generally
receives 60 checks with an average amount of $520 each. Deposited amounts are available after
an average of 2.5 days. What is the amount of the firm's collection float?
3)
A) $31,200
B) $78,000
C) $45,639
D) $10,787
E) $32,361
,Question Details
Difficulty : 1 Basic
Learning Objective : 19-02 Explain how firms manage their cash and some of the collection, concentrat
Section : 19.2 Understanding Float
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Topic : Float costs and management
4) At the beginning of the day, a company has a cash balance of $11,250 and no float.
During the day, the company wrote three checks for $600,$935, and $1,300. The company also
deposited checks for $1,165 and $1,800. What is the company's disbursement float?
4)
A) $2,835
B) $130
C) $2,965
D) $8,285
E) $5,800
Question Details
Difficulty : 1 Basic
Learning Objective : 19-02 Explain how firms manage their cash and some of the collection, concentrat
Section : 19.2 Understanding Float
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Topic : Float costs and management
5) On an average day, a company writes 48 checks worth a total of $6,175 that clear in 3.75
days. The company also collects 70 checks worth atotal of $8,440 that clear in 3.25 days. What is
the company's average disbursement float?
5)
, A) $6,175
B) $23,156
C) $8,440
D) $27,430
E) $18,990
Question Details
Difficulty : 1 Basic
Learning Objective : 19-02 Explain how firms manage their cash and some of the collection, concentrat
Section : 19.2 Understanding Float
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Topic : Float costs and management
6) Marston Corporation writes 43 checks a day for an average amount of $458 each. These
checks generally clear the bank 3.25 days after they are written. In addition, the firm generally
receives 55 checks with an average amount of $547 each. Deposited amounts are available after
an average of 2.75 days. What is the firm's disbursement float?
6)
A) $19,694
B) $82,734
C) $18,728
D) $64,006
E) $30,085
Question Details
Difficulty : 1 Basic
Learning Objective : 19-02 Explain how firms manage their cash and some of the collection, concentrat
Section : 19.2 Understanding Float
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Topic : Float costs and management
