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43.
The Miller-Orr model:
44.
Which of the following statements is correct?
45.
The Hobby Shop has a checking account with a ledger balance of $692. The
firm has $1,063 in uncollected deposits and $930 in outstanding checks.
What is the amount of the disbursement float on this account?
46.
On an average day, Plastics Enterprises writes 42 checks with an average
amount of $587. These checks clear the bank in an average of 2 days. What
is the average amount of the disbursement float?
47.
On average, your firm receives 65 checks a day from customers. These
checks, on average, are worth $39.90 each and clear the bank in 1.5 days. In
addition, your firm disburses 38 checks a day with an average amount of
$89.50. These checks clear your bank in 2 days. What is the average
amount of the collection float?
48.
When Chris balanced her business checkbook, she had an adjusted bank
balance of $11,418. She had 2 outstanding deposits worth $879 each and 11
checks outstanding with a total value of $3,648. What is the amount of the
collection float on this account?
49.
Your company has an available balance of $7,911. A deposit of $2,480 that
was made this morning is not yet included in the bank's balance. There are
also 4 checks outstanding with a value of $360 each. What is the net float?
50.
A firm has $16,718 in outstanding checks that have not cleared the bank.
The firm also has $13,450 in deposits that have been recorded by the firm
but not by the bank. The current available balance is $11,407. What is the
status of the net float?
51.
Your firm generally receives 4 checks a month. The check amounts and the
collection delay for each check is shown below. Given this information what
is the amount of the average daily float? Assume a 30 day month.
52.
Hoyes Lumber generally receives 3 checks a month. The check amounts
and the collection delay for each check are shown below. Given this
information, what is the amount of the average daily float? Assume each
month has 30 days.
53.
The Blue Star generally receives only 3 checks a month. The check amounts
and the collection delay for each check are shown below. Given this
information, what is the amount of the average daily float? Assume every
month has 30 days.
54.
The Food Wholesaler generally receives 4 checks a month. The check
amounts and the collection delay for each check are shown below. Given
this information, what is the amount of the average daily float? Assume
every month has 30 days.
55.
Hot Tub Builders sells to three retail outlets. Each retailer pays once a
month in the amounts shown below. The collection delay associated with
each payment is also given below. What is the amount of the average daily
receipts if you assume each month has 30 days?
56.
Atlas Builders deals strictly with five customers. The average amount each
customer pays per month along with the collection delay associated with
each payment is shown below. Given this information, what is the amount
of the average daily receipts? Assume every month has 30 days.
57.
National Exporters deals strictly with two customers. The average amount
each customer pays per month along with the collection delay associated
with each payment is shown below. Given this information, what is the
amount of the average daily receipts? Assume that every month has 30
days.
58.
Cross Country Trucking provides transportation services exclusively for four
customers. The average amount each customer pays per month along with
the collection delay associated with each payment is shown below. Given
this information, what is the weighted average delay? Assume each month
has 30 days.
59.
High Brow Express deals strictly with two customers. The average amount
each customer pays per month along with the collection delay associated
with each payment is shown below. Given this information, what is the
weighted average delay? Assume that every month has 30 days.
60.
The Metallurgical Specialty Co. deals strictly with four customers. The
average amount each customer pays per month along with the collection
delay associated with each payment is shown below. Given this information,
what is the weighted average delay? Assume each month has 30 days.
61.
On an average day, Goose Down Feathers receives $2,400 in checks from
customers. These checks clear the bank in an average of 2.2 days. The
applicable daily interest rate is 0.04 percent. What is the present value of
the float? Assume each month has 30 days.
62.
On an average day, Town Center Hardware receives $2,420 in checks from
customers. These checks clear the bank in an average of 2.1 days. The
applicable daily interest rate is 0.025 percent. What is the maximum amount
this store should pay to completely eliminate its collection float? Assume
each month has 30 days.
