## [solution]: 1. Calculating Float In a typical month, the Hampton Corporation receives 80 checks totaling...

More Details:

1.        Calculating Float   In a typical month, the Hampton Corporation receives 80 checks totaling \$139,000. These are delayed four days on average. What is the average daily float? Assume 30 days in a month. 2.        Calculating Net Float   Each business day, on average, a company writes checks totaling \$12,000 to pay its suppliers. The usual 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 \$23,000. The cash from the payments is available to the firm after two days. a.   Calculate the company’s disbursement float, collection float, and net float. b.   How would your answer to part (a) change if the collected funds were available in one day instead of two?

Solution details:
STATUS
QUALITY
Approved

This question was answered on: Dec 18, 2020

Solution~00031147983824.zip (25.37 KB)

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy (Deadline assured. Flexible pricing. TurnItIn Report provided)

STATUS

QUALITY

Approved

Dec 18, 2020

EXPERT

Tutor