In a typical month, the Saint John Corporation receives 80 cheques totalling $124,000. These are delayed four
Question:
In a typical month, the Saint John Corporation receives 80 cheques totalling $124,000. These are delayed four days on average. What is the average daily float? Assume 30 days in a month.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 20% (5 reviews)
The average daily float is the amount of receipt...View the full answer
Answered By
Issa Shikuku
I have vast experience of four years in academic and content writing with quality understanding of APA, MLA, Harvard and Chicago formats. I am a dedicated tutor willing to hep prepare outlines, drafts or find sources in every way possible. I strive to make sure my clients follow assignment instructions and meet the rubric criteria by undertaking extensive research to develop perfect drafts and outlines. I do this by ensuring that i am always punctual and deliver quality work.
5.00+
6+ Reviews
13+ Question Solved
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781259654756
10th Canadian Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan, Gordon Roberts, J. Ari Pandes, Thomas Holloway
Question Posted:
Students also viewed these Business questions
-
In addition to a Gantt chart, youve drawn Brian a PERT diagram so that you can communicate the necessity to keep an eye on the critical path. Consult Figure which was derived from the data from...
-
The number of traffic fatalities in a typical month in a given state has a normal distribution with mean 125 and standard deviation 31. a. If a person in the highway department claims that there will...
-
A company receives an average of $100,000 in cheques per day from its customers. It takes the company an average of five days to receive and deposit these cheques. The company is considering a...
-
Determine whether each of these statements is true or false. a) x {x} b) {x} {x} c) {x} {x} d) {x} {{x}} e) {x} f) {x}
-
Show that the variance of the finite population {c1, c2, . . . , cN} can be written as Also, use this formula to recalculate the variance of the finite population of Exercise 8.16. i=1
-
J.A. Appliance Company has supplied you with the following data regarding working capital and sales for the years 2009, 2008, and 2007. Required a. Compute the sales to working capital ratio for each...
-
The following contingency table presents observed frequencies. Compute the expected frequencies. 1 2 3 A 13 8 27 B 18 21 35 19 13 15 D 20 17 27
-
PEI Potatoes processes potatoes into potato cuts at its highly automated plant. For many years, it processed potatoes for only the retail consumer market where it had a superb reputation for quality....
-
Assume the Oklahoma City Thunder are sold for $520 million. If there is a 35% flat tax rate, how much would a 5-year double-declining balance depreciation of the sale price save them in taxes over...
-
An inexperienced accountant for Yarnell Company prepared the following income statement for the month of August 2011: Prepare a revised income statement in accordance with generally accepted...
-
Rothesay Submarine Manufacturing is investigating a lockbox system to reduce its collection time. It has determined the following: The total collection time will be reduced by three days if the...
-
Below are the most recent statements of financial position for Tabor Inc. Excluding accumulated depreciation, determine whether each item is a source or a use of cash, and the amount: TABOR INC....
-
The auditor should control and verify all liquid assets simultaneously to prevent: (1) Unrecorded disbursements. (2) Conversion of assets to conceal a shortage. (3) Unauthorized disbursements. (4)...
-
Approximately how much value was lost as a result of the WorldCom collapse?
-
What alternative courses of action, if any, might you have suggested for Cynthia Cooper and her colleagues given the framework of appropriate ethical conduct?
-
From an ethical perspective, did Cynthia Cooper have to report this fraud? Why or why not?
-
What ethical issues, conflicts of interest, and noncompliance with corporate policies and procedures might Cynthia Cooper have faced in the context of her investigation?
-
Do any accounting or payroll personnel or related parties appear on the contractor payroll?
-
We have a variety of theorems about how to create column spaces and row spaces and they frequently involve row-reducing a matrix. Here is a procedure that some try to use to get a column space. Begin...
-
Dr. Chan obtained a $15,000 demand loan at prime plus 1.5% on September 13 from the Bank of Montreal to purchase a new dental X-ray machine. Fixed payments of $700 will be deducted from the dentists...
-
Common versus Preferred Stock Suppose a company has a preferred stock issue and a common stock issue. Both have just paid a $2 dividend. Which do you think will have a higher price, a share of the...
-
Dividend Growth Model Based on the dividend growth model, what are the two components of the total return on a share of stock? Which do you think is typically larger?
-
Dividend Growth Model Based on the dividend growth model, what are the two components of the total return on a share of stock? Which do you think is typically larger?
-
In the context of solid-liquid extraction, how do particle size distribution, porosity, and surface area of the solid matrix impact extraction kinetics and overall efficiency? Provide examples of...
-
Discuss the challenges and opportunities associated with the extraction of bioactive compounds from natural sources using environmentally benign solvents and green extraction techniques, such as...
-
The driver of a car traveling at 31.9 m/s applies the brakes and undergoes a constant deceleration of 1.12 m/s 2 . How many revolutions does each tire make before the car comes to a stop, assuming...
Study smarter with the SolutionInn App