Problems 7-1 Cats Copiers, Inc shows the following values on its corporate books Corporate books Initial amount $10,000 ,00 Checks 45.000 Balance $65,000 The initial amount on the banks books is $20,000. Only $85,000 in deposits have been recorded and only $18,000 in checks have cleared. Fill in the following table and ind icate the amount of float Bank’ s Books Initial amount 20000 Deposits Balance Flo Solution: Cats Copiers I Bank books Initial amount $20.000 Deposits +85000 18000 Balance $87000 Float $22000* *Based on the balance on the corporate books minus the balance on the bank's books CopyrightC 2005 by The McGray-Hill Companies, Inc.Copyright © 2005 by The McGraw-Hill Companies, Inc. S-244 Problems 7-1. Cats Copiers, Inc. shows the following values on its corporate books. Corporate Books Initial amount $ 10,000 Deposits +100,000 Checks – 45,000 Balance $ 65,000 The initial amount on the bank's books is $20,000. Only $85,000 in deposits have been recorded and only $18,000 in checks have cleared. Fill in the following table and indicate the amount of float. Bank’s Books Initial amount $20,000 Deposits Checks _______ Balance Float Solution: Cats Copiers, Inc. Bank Books Initial amount $20,000 Deposits +85,000 Checks –18,000 Balance $87,000 Float $22,000* *Based on the balance on the corporate books minus the balance on the bank's books