loat is defined as the difference between the balance shown on the books and the balance in the bank account. A lag often occurs between the time receipts and disbursements are recorded on the company’s books and when the transactions clear the bank.   Consider the following scenario: Sandberg Industries received a $100,000 check from one of its customers, deposited it into its bank account, and recorded it in its bank register. The funds were reflected in Sandberg’s bank account two days later. What type of float does this scenario describe?   a)Collection float   b)Disbursement float   c)Net float     Next, consider the case of Windsor Flooring Company: The management at Windsor Flooring has determined that it takes an average of eight days for checks the company writes to clear its bank account. Cash receipts from customers are reflected in Windsor’s bank account an average of four days after the checks are received. On an average day, Windsor writes checks that total $30,000, and it receives checks from customers that total $40,000.   Compute the collection float, the disbursement float, and the net float in dollars in the following table. (Note: By definition, collection float is always considered negative, and disbursement float is always positive. Both should be shown as positive numbers here. The net float, however, should be shown as positive if it is favorable and as negative if it is unfavorable.)   Windsor Flooring Company Float Calculations Collection float     ? Disbursement float     ? Net float     ?   Given this information, you can deduce that on an average day, Windsor Flooring’s bank balance is (___)  its book balance.

loat is defined as the difference between the balance shown on the books and the balance in the bank account. A lag often occurs between the time receipts and disbursements are recorded on the company’s books and when the transactions clear the bank.
 
Consider the following scenario:
Sandberg Industries received a $100,000 check from one of its customers, deposited it into its bank account, and recorded it in its bank register. The funds were reflected in Sandberg’s bank account two days later.
What type of float does this scenario describe?
 
a)Collection float
 
b)Disbursement float
 
c)Net float
 
 
Next, consider the case of Windsor Flooring Company:
The management at Windsor Flooring has determined that it takes an average of eight days for checks the company writes to clear its bank account. Cash receipts from customers are reflected in Windsor’s bank account an average of four days after the checks are received. On an average day, Windsor writes checks that total $30,000, and it receives checks from customers that total $40,000.
 
Compute the collection float, the disbursement float, and the net float in dollars in the following table. (Note: By definition, collection float is always considered negative, and disbursement float is always positive. Both should be shown as positive numbers here. The net float, however, should be shown as positive if it is favorable and as negative if it is unfavorable.)
 
Windsor Flooring Company
Float Calculations
Collection float     ?
Disbursement float     ?
Net float     ?
 
Given this information, you can deduce that on an average day, Windsor Flooring’s bank balance is (___)  its book balance.
Tired of numerous paper assignments?
Rely on us and receive professional paper writing assistance!
Professional paper Writing Assistance

Who We Are

We are a professional website for customized writing. If you searched a question and stumbled into our website, you are in the right place to receive assistance with your coursework.

Do you handle any type of coursework?

Yes. We have displayed prior orders to demonstrate our experience. We can answer this question for you as we have previously. Please fill out our Order Form so that we may ensure its flawlessness. Correctly completing the order form will help our staff with reference, requirements, and future communication.

Is it hard to Place an Order?

  1. Click on the “Order Now” tab at the top menu or “GET A FREE QUOTE” icon at the bottom and a new page will appear with an order form to be filled
  2. Fill in the initial requirements in the small order form located on the home page and press “continue” button to proceed to the main order form or press “order” button in the header menu. Starting from there let our system intuitively guide you through all steps of ordering process. Submit detailed paper instructions, upload necessary files if needed and provide your contact information – you are almost done!
  3. Proceed with the payment- click on “PROCEED TO CHECKOUT” at the bottom of the page. From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it. All your payments are processed securely through PayPal. This enables us to guarantee a 100% security of your funds and process payments swiftly.
  4. Delivery- Once finished, your final paper will be available for download through your personal dashboard. You will also receive an email notification with a copy of your paper attached to it.