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

Name: ABC Corp.shows a ledger balance of $50,000 prior to writing a check for $5,000 and depositing $1,000 in checks.What is the amount of its net float?
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Question

Quizplus · Accepted Answer

Net float is calculated as the difference between the checks written and the checks deposited. Here, the check written is $5,000 and the deposit is $1,000, so the net float is $5,000 - $1,000 = $4,000.

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