Purchase Solution

Float for a check deposit.

Not what you're looking for?

Ask Custom Question

You have $125,000.00 on deposit with no outstanding checks or uncleared deposits. If you deposit a check for $110,000.00 does this create a disbursement float or a collection float? What is your available balance? Book balance?

Purchase this Solution

Solution Summary

This problem determines the float for a check deposit.

Solution Preview

A collection float occurs when you deposit a check that is not cleared immediately. When you receive (and subsequently deposit) a check, the money is not available immediately since the funds need to be transferred from the check writer's account to the check collector's account. In the meantime the amount of the check you deposited is called a collection float. ...

Purchase this Solution

Free BrainMass Quizzes
Basics of corporate finance

These questions will test you on your knowledge of finance.

Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

Managing the Older Worker

This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce

Social Media: Pinterest

This quiz introduces basic concepts of Pinterest social media

Transformational Leadership

This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.