The Hobby Shop has a checking account with an available balance of $617 and a check book balance of $702. There are $238 in uncollected deposits. What is the amount of the disbursement float on this account?

Question

Quizplus · Accepted Answer

Disbursement float is the difference between the checkbook balance and the available balance. In this case, checkbook balance is $702 and available balance is $617, which means there is a disbursement float of $85. 
To calculate the amount of uncollected deposits, we add the uncollected deposits to the available balance: 
$617 + $238 = $855. 
Therefore, the checkbook balance ($702) exceeds the adjusted available balance ($855) by $153, which is the disbursement float.

The Hobby Shop Has a Checking Account with an Available