A) What is the float and how can a company use it for working capital? Provide an example that illustrates how it happens.

B) If the company records indicate the following:

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?