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ASSUMPTIONS Average Ledger Balance Deposit Float Reserve Requirement Earnings Credit Rate Service Charges for the Month Days in Month $250,000 $ 30,000 5% 1% $1,000 30 А. Use the data above to calculate the Average Collected Balance. Use the data above to calculate the Earnings Credit. Did the company keep sufficient collected balances on deposit to cover the cost of services over the period? С. B.

ASSUMPTIONS Average Ledger Balance Deposit Float Reserve Requirement Earnings Credit Rate Service Charges for the Month Days in Month $250,000 $ 30,000 5% 1% $1,000 30 А. Use the data above to calculate the Average Collected Balance. Use the data above to calculate the Earnings Credit. Did the company keep sufficient collected balances on deposit to cover the cost of services over the period? С. B.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 9SPA: FINANCIAL RATIOS Use the work sheet and financial statements prepared in Problem 15-8A. All sales...
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Answer the question no. ( B)
ASSUMPTIONS Average Ledger Balance Deposit Float Reserve Requirement Earnings Credit Rate Service Charges for the Month Days in Month $250,000 $ 30,000 5% 1% $1,000 30 А. Use the data above to calculate the Average Collected Balance. В. Use the data above to calculate the Earnings Credit. Did the company keep sufficient collected balances on deposit to cover the cost of services over the period? C.
Transcribed Image Text:ASSUMPTIONS Average Ledger Balance Deposit Float Reserve Requirement Earnings Credit Rate Service Charges for the Month Days in Month $250,000 $ 30,000 5% 1% $1,000 30 А. Use the data above to calculate the Average Collected Balance. В. Use the data above to calculate the Earnings Credit. Did the company keep sufficient collected balances on deposit to cover the cost of services over the period? C.
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