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faust18 [17]
1 year ago
8

On average, a firm collects checks totaling $250,000 per day. It takes the firm approximately 4 days from the day the checks wer

e mailed until they result in usable cash for the firm. Assume that (1) a lockbox system could be employed which would reduce the cash conversion procedure to 2 1/2 days and (2) the firm could invest any additional cash generated at 6% after taxes. The lockbox system would be a good buy if it costs $25,000 annually.
a. True
b. False
Business
1 answer:
Pachacha [2.7K]1 year ago
5 0
Hi! I don’t know what any of this means but I hope you have an amazing day and I hope god/allah/etc. blesses you :)
sorry I couldn’t answer
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Swinnerton Clothing Company's balance sheet showed total current assets of $2,250, all of which were required in operations. Its
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Answer: $1,530

Explanation:

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Accounts Payables and Accrued wages need to be deducted because they came about as a result of operations and are neither of debt or equity financing so are considered free.

So, in calculating we have,

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