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As of this morning, your firm had a ledger balance of $3,305

24 / 01 / 2019 Assignments

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As of this morning, your firm had a ledger balance of $3,305

4 As of this morning, your firm had a ledger balance of $3,305 with no outstanding deposits or checks. Today, your firm deposited 9 checks in the amount of $392 each and wrote 13 checks in the amount of $637 each. What is the amount of the disbursement float as of the end of the day?5 ABC Corporation currently has an inventory turnover of 13.49, a payables turnover of 13.4, and a receivables turnover of 12.47. How many days are in the cash cycle?6 ABC Corporation currently has an inventory turnover of 40.79, a payables turnover of 7.86, and a receivables turnover of 12.08. How many days are in the operatingcycle?7 As of this morning, your firm had a ledger balance of $3,903 with no outstanding deposits or checks. Today, your firm deposited 4 checks in the amount of $255 eachand wrote a check in the amount of $868. What is the amount of the collection float as of the end of the day?8 ABC Company has a cash cycle of 11.75 days, an operating cycle of 21.08 days, and an average collection period of 7 days. The company reported cost of goods sold of $235,287. What is the company’s average balance in Accounts Payable?9MonthSales $MonthSales $Jan 37,456July 39,124Feb 47,996Aug 47,148Mar 47,148Sep 37,456Apr 39,124Oct 47,148May 37,456Nov 47,996June 47,996Dec 39,124Sales are collected as follows:In the month of Sales: 20%In the next month: 27%After 2 months: 7%After 3 months: remainder is collectedCalculate the cash collection for November.


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