Porky's Sausage Co. shows the following values on its corporate books. Corporate Books: Initial amount ............................... .$10,000
Question:
Porky's Sausage Co. shows the following values on its corporate books.
Corporate Books:
Initial amount ............................... .$10,000
Deposits ......... . ............................+80,000
Cheques......................................... -50,000
Ba lance .........................................$40,000
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......................................__________
Ba lance........................................_________
Float..........................................___________
Step by Step Answer:
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta