ABC Corp.shows a ledger balance of $50,000 prior to writing a cheque for $5,000 and depositing $1,000 in cheques.What is the amount of their net float?

Question

Quizplus · Accepted Answer

Net Float = Total Ledger Balance - (Amount of Cheques Written - Amount of Cheques Deposited)
= $50,000 - ($5,000 - $1,000)
= $50,000 - $4,000
= $46,000
Therefore, the amount of their net float is $4,000.

ABC Corpshows a Ledger Balance of $50,000 Prior to Writing a a Cheque