Determining of netfloat by clearing of checks received and paid out

Question # 00496691
Subject: Business    / Accounting

21. ABC Company writes 30 checks a day for an average amount of $793 each. These checks generally clear the bank in 6 days. In addition, the firm generally receives an average of $8,225 a day in checks that are deposited immediately. Deposited funds are available in 2 days. What is the firm’s netfloat?

24. ABC Company has projected Sales of$16,030in January.The sales are expected to grow by7%each month.ABC’s collection schedule is as follows:

ABC collects 82 percent of its sales in the month of sale and the remainder is collected in the following month. What is the amount of the March cash collections?

25. You are given the following quotes:



U.S dollar/Chinese Yuan=0.1794

What is the BrazilianReal/Chinese Yuancross rate?