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Reeder Printing has a balance of $100,000 in its checkbook and a $100,000 available balance at its bank. When Reeder makes a deposit, funds are available in one day. When Reeder prepares a check, it takes three day for the check to clear and for funds to be removed from the available bank balance. Assume that Reeder makes daily deposits of $20,000 and prepares daily checks of $10,000 for the next 10 days. Then, for the following 10 days, Reeder makes daily deposits of $10,000 and prepares daily checks of $20,000. Prepare a table showing the daily amounts for : checks written, check deposited, the book balance, the available balance, disbursement float, collection float, and total float.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M946201

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