what is the Integrated Automated Fingerprint Identification System (IAFIS)? what are the steps for utilizing the IAFIS? Explain.
January 5, 2018
The subsidiary has issued 15 pr cent preference shares of the face value of Rs.100, to be redeemed at year-end 9. Flotation costs are expected to be 5 per cent; these costs can be amortized for tax purpose during 8 years at a uniform rate
January 5, 2018

If Clearwater Glass has an opportunity cost equal to 10 percent, how much would it be willing to spend each year to reduce collection delay (float) by two days?

Clearwater Glass Company examined its cash management policy and found that it takes an average of five days for checks that the company writes to reach its bank and thus to be deducted from its checking account balance. On the other hand, an average of four days elapses from the time Clearwater Glass receives payments from its customers until the funds are available for use at its bank. On an average day, Clearwater Glass writes checks that total $70,000, and it receives checks from customers that total $80,000. (a) Compute the disbursement float, collection float, and net float in dollars. (b) If Clearwater Glass has an opportunity cost equal to 10 percent, how much would it be willing to spend each year to reduce collection delay (float) by two days?

 

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