WPS Office Menu V $ H W Assignment 2 (2).docx Assignment 2.pdf 8 e Home Insert Comment Edit Page Protect Tools Edit Content" Insert pictures Change fluid Crop Page Split Page Header and Footer Background Watermark Try WPS Premium to unlock all PDF benefits, including unlimited PDF editing and saving. Free trial O PROBLEMS 1. Porky's Sausage Co. shows the following values on its corporate books. Corporate Books: Initial amount $10,000 Deposits +80,000 Cheques -50,000 Balance $40,000 O The initial amount on the bank's books is also $10,000. However, only $70,000 in deposits has been recorded and only $25,000 in cheques have cleared. Fill in the table below and indicate the amount of float. Bank Books: Initial amount $10,000 Deposits Cheques Balance Float O 2. Sheila's Society Clothing Manufacturer has collection centres around the country to speed up cash collections. The company also makes its disbursements from remote disbursement centres, so cheques written by Sheila's take longer to clear the bank. Collection time has been reduced by two and one-half days and disbursement time has been increased by one and one-half days because of these policies. Excess funds are being invested in short-term instruments yielding 6 percent per annum. a. If the firm has $4 million per day in collections and $3 million per day in disbursements, how many dollars has the cash management system freed up? 1/2 > > H prime Si video Edit PDF Navigation K > H prime Si video Edit PDF Navigation K