Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have $ 1 2 7 , 0 0 0 on deposit with no outstanding checks or uncleared deposits. One day you write a check

You have $127,000 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $57,000.
a. Does this create a disbursement float or a collection float?
b.
What is your available balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g.,32.)
c. What is your book balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g.,32.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Step: 3

blur-text-image

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

Money Locates You

Authors: Joan Ekobena

1st Edition

1774821257, 978-1774821251

More Books

Students also viewed these Finance questions

Question

3. Contrast relational contexts in organizations

Answered: 1 week ago

Question

2. Describe ways in which organizational culture is communicated

Answered: 1 week ago

Question

1. Describe and compare approaches to managing an organization

Answered: 1 week ago