According to your chequebook, you have a $3,000 balance in your account. You write cheques totaling $4,500 and make a deposit of $3,500. What is your net float?

Question

Quizplus · Accepted Answer

The net float is calculated by adding the deposit to the initial balance and then subtracting the total of the cheques written: $3,000 + $3,500 - $4,500 = $2,000. However, the net float refers to the difference between the available balance and the ledger balance, which is $1,000.

According to Your Chequebook, You Have a $3,000 Balance in Your