Each business day, on average, a company writes checks totaling $38,500 to pay its suppliers. the usual clearing time for the checks is five days. meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $49,500. the cash from the payments is available to the firm after three days.

required:

(a)

calculate the company’s disbursement float, collection float, and net float. (negative amounts should be indicated by a minus sign.)

disbursement float $

collection float $

net float $

(b)

calculate the company's disbursement float, collection float, and net float, if the collected funds were available in one day instead of three. (negative amounts should be indicated by a minus sign.)

disbursement float $

collection float $

net float

2standard deviation a particular telephone number is used to receive both voice calls and fax messages. suppose that 25% of the incoming calls involve fax messages, and consider a sample of 25 incoming calls. (a) what is the expected number of calls among the 25 that involve a fax message?

Grant, inc., acquired 30% of south co.’s voting stock for $200,000 on january 2, year 1, and did not elect the fair value option. the price equaled the carrying amount and the fair value of the interest purchased in south’s net assets. grant’s 30% interest in south gave grant the ability to exercise significant influence over south’s operating and financial policies. during year 1, south earned $80,000 and paid dividends of $50,000. south reported earnings of $100,000 for the 6 months ended june 30, year 2, and $200,000 for the year ended december 31, year 2. on july 1, year 2, grant sold half of its stock in south for $150,000 cash. south paid dividends of $60,000 on october 1, year 2. before income taxes, what amount should grant include in its year 1 income statement as a result of the investment?

"in my opinion, we ought to stop making our own drums and accept that outside supplier's offer," said wim niewindt, managing director of antilles refining, n.v., of aruba. "at a price of $21 per drum, we would be paying $4.70 less than it costs us to manufacture the drums in our own plant. since we use 70,000 drums a year, that would be an annual cost savings of $329,000." antilles refining's current cost to manufacture one drum is given below (based on 70,000 drums per year):