FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

During a normal month, hanks receive a total of nine checks with a total value of $148,500 on average, it takes 1 day from the

During a normal month, hanks receive a total of nine checks with a total value of $148,500 on average, it takes 1 day from the date of deposit for the funds from these checks to be available to the firm assume each month has 30 days what is the average daily float

Step by Step Solution

★★★★★

3.42 Rating (149 Votes )

There are 3 Steps involved in it

Step: 1

Average daily floattot... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles of Corporate Finance

Principles of Corporate Finance

Authors: Richard Brealey, Stewart Myers, Franklin Allen

12th edition

978-1259692178, 1259692175, 1259144380, 978-1259144387

More Books

Students also viewed these Finance questions

Question

★★★★★
A production analyst has found that on average it takes a new person T(x)minutes to perform a particular assembly operation after x performances of the operation, where T(x)=10 - 10- 3x 0 125. (A)...

Answered: 1 week ago

Question

★★★★★
Which one of the following is not a characteristic of the Public Company Accounting Oversight Board? a. Minimizes self-regulation in the accounting profession b. Has the authority to amend, modify,...

Answered: 1 week ago

Question

★★★★★
It takes Carlson Corp. 30 days on average to collect its accounts receivable. The company began the year with $10,500 in accounts receivable. Sales on credit for the year amounted to $150,000....

Answered: 1 week ago

Question

★★★★★
One of the key aspects of the Risk Management Process which the Health Care Providers should be using as an essential tool is risk modeling. It can be argued that for the sustainability of the Health...

Answered: 1 week ago

Question

★★★★★
Give common or systematic names for each of the following compounds: (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) CH3N+H3 CH3CO2 - (l) (m) (n) NH2 HIN NH2 CH3 NH2 OCH NIH N NH2 SO NH2 NH2 CH3

Answered: 1 week ago

Question

★★★★★
What is defined as the likelihood of disruption that would impact the ability of a company to continuously supply products or services?

Answered: 1 week ago

Question

★★★★★
What would you do about the verbal homophobic insults?

Answered: 1 week ago

Question

★★★★★
You have been assigned to the audit of the financial statements of Equality Coffee Roasters Limited (ECR) for its year ending December 31, 20X2. The company started five years ago and is in the...

Answered: 1 week ago

Question

★★★★★
Can someone help me with detailed answers for these two questions? E4-4 Recording Adjusting Entries Elana's Traveling Veterinary Services, Inc..completed its first year of operations on December the...

Answered: 1 week ago

Question

★★★★★
Company is a small but growing manufacturer of telecommunications equipment. The company has no sales force of its own; rather, it relies completely on independent sales agents to market its...

Answered: 1 week ago

Question

★★★★★
You are a Financial Analyst for a large corporation. The Chief Financial Officer (CFO) of the company has just reviewed preliminary 3" quarter earnings with the company CEO. The meeting did not go...

Answered: 1 week ago

Question

★★★★★
Hi-Tech Commerce Co. (HTC) sells and provides service of efficient end-to-end communications and IT systems and solutions. One of the company's key products and services includes Telecom and IT...

Answered: 1 week ago

Question

★★★★★
2) See each part for the question to answer. a) Paulette is looking to decide which of two online ad campaigns (lets call them A and B) would generate the highest purchase conversion. Describe how...

Answered: 1 week ago

Question

★★★★★
1. BaCo opens its business in 20X2 and purchases merchandise on account for $88,000. In 20X2, BaCo pays $67,000 cash on the $88,000 due, sales are $145,000, and ending inventory is $24,000. BaCo's...

Answered: 1 week ago

Question

★★★★★
Miller Company's contribution format income statement for the most recent month is shown below: Total Sales (25,800 units) Variable expenses $ 232,200 139,320 Contribution margin 92,880 Per Unit $...

Answered: 1 week ago

Question

★★★★★
Tired of her current home's high electric bills, Sandra decides that her next home will have oil heat, but she is concerned about the liability hazards this might involve. To avoid a major pollution...

Answered: 1 week ago

Question

★★★★★
On January 2, 2021, Pharoah Hospital purchased a $97,000 special radiology scanner from Foress Inc. The scanner has a useful life of five years and will have no disposal value at the end of its...

Answered: 1 week ago

Question

★★★★★
You are interested in investing and are considering a portfolio comprised of the following two stocks. Their estimated returns under varying market conditions are provided: (note: it is difficult to...

Answered: 1 week ago

Question

★★★★★
Between 1999 and 2008, the returns on Microfund averaged 4% a year. In his 2008 discussion of performance, the fund president noted that this was nearly 6% a year better than the return on the U.S....

Answered: 1 week ago

Question

★★★★★
Your eccentric Aunt Claudia has left you $50,000 in BP shares plus $50,000 cash. Unfortunately her will requires that the BP stock not be sold for one year and the $50,000 cash must be entirely...

Answered: 1 week ago

Question

★★★★★
In 2006 agency bonds sold at a yield of 5.32%, while high-grade tax-exempts of comparable maturity offered 3.7% annually. If an investor receives the same after-tax return from corporate and...

Answered: 1 week ago

Question

★★★★★
3. Do you know of people from different cultures than your own who are different in how they interact with others? Treat their friends and families differently? How are those behaviors adaptive for...

Answered: 1 week ago

Question

★★★★★
4. Masculinity versus Femininity. Hofstedes original definition of this dimension was not so related to sex differences as it was to competitiveness and achievement orientation and was labeled simply...

Answered: 1 week ago

Question

★★★★★
2. Power Distance. Organizations need hierarchies based on status and power, and differentiating people according to roles, functions and positions is vital to the successful operation of any...

Answered: 1 week ago

Previous Question Next Question