Bi 26/162:

Cu 1: Doanh thu bn hng: 2000

Chi ph bin i: 1.1 * 2000 * 60% = 1320 (Trong bi c ghi l chi ph bin i
bng 60% gi bn hng c tnh theo gi thanh ton tc l DT bn hng gm thu VAT,
m DT bi cho cha c VAT nn phi nhn vi 1.1 hay 110%)
Chi ph c nh : 100
Phng n 1: 30% vn vay, 70% vn c phn
Vn vay: 2000 * 30% = 600 (v mi nm tr mt lng vn vay bng nhau nn
mi nm s vng vay s gim i 200)
Nm 1

Nm 2

Nm 3

KH TSC

1800 * 30% = 540

540

540

Tit kim nh KH

540 * 30% = 162

162

162

Chi ph li vay

600 * 12% = 72

400 * 12% = 48

200 * 12% = 24

LN t bn TSC

200 1800 * 90% = 20

Thu hi Vn lu ng

200

LN sau thu

-32

-8

(16 + 20)*70% +200 = 225.2

Dng tin rng

-32 + 162 = 130

-8 + 162 = 154

162 + 225.2 = 387.2

(Tit kim nh KH +
LN sau thu)
-

Phn LN sau thu: V gi thanh l TSC ln hn so vi gi tr cn li ca n

nn phn li nhun cng b tnh thu TNDN l 30%, ring phn Thu hi
vn lu ng thi khng tnh thu TNDN. Khi LN ca DN b m th khng tnh
thu TNDN

Phn chi ph li vay: Mi nm tr vn vay 200 nn chi ph li vay mi nm

mi khc. Phn vn vay tr mi nm khng phi tr vi LN sau thu ca DN
m s c ly t KH TSC tr nn s ko c mc no trong bng l tr vn
vay.

 Phng n 2: 100% vn c phn

Nm 1

Nm 2

Nm 3

KH TSC

1800 * 30% = 540

540

540

Tit kim nh KH

540 * 30% = 162

162

162

LN t bn TSC

200 1800 * 90% = 20

Thu hi Vn lu ng

200

LN sau thu

40

40

(40 + 20)*70% +200 = 242

Dng tin rng

40 + 162 = 202

40 + 162 = 202

162 + 242 = 404

Cu 2: Phng n 2: Khng c thay i v khng c phn vn vay

Phng n 1:
Nm 1

Nm 2

Nm 3

KH TSC

1800 * 30% = 540

540

540

Tit kim nh KH

540 * 30% = 162

162

162

Chi ph li vay

600 * 12% = 72

72

72

LN t bn TSC

200 1800 * 90% = 20

Thu hi Vn lu ng

200

LN sau thu

-32

-32

-32 + 20 +200 = 188

Dng tin rng

-32 + 162 = 130

-32 + 162 = 154

162 + 225.2 = 350

Phn LN sau thu Nm 3 khng c thu TNDN v tng LN t bn hng v LN t

thanh l vn < 0, tc l vn L. V th nn cng trc tip vo vi Thu hi vn lu ng.
-

Bi 24/161
-

Doanh thu bn hng: 1600

Chi ph bin i: 1600 * 60% = 960

Chi ph c nh: 100

Ti tr bng ton b VCSH

KH TSC

Nm 1

Nm 2

Nm 3

Nm 4

1600/4 = 400

400

400

400

LN t bn TSC

100

Thu hi VL

100

LN sau thu

98

LN sau thu + KH 98 + 400 = 498

TSC

98

98

98+100*70% + 100 = 268

498

498

268 + 400 = 668

Ti tr bng 70% VCSH v 30% vn vay

(Trong c ghi l TS Lu ng c ti tr bng VCSH nn phn vng vay s
c tnh bng 30% gi tr ca TSC)
Vn vay: 1600 * 30% = 480

KH TSC
Chi ph li vay

Nm 1

Nm 2

Nm 3

Nm 4

1600/4 = 400

400

400

400

480*12% = 57.6 360*12% = 43.2 240*12% = 28.8

120*12% = 14.4

LN t bn TSC

100

Thu hi VL

100

LN sau thu

57.68

67.76

77.84

87.92 +100*70% + 100

= 257.92
LN sau thu + 57.68 + 400 =
KH TSC
457.68

467.76

477.84

257.92 + 400 = 657.92

NPV ca phng n 1 tt hn phng n 2 nn chn phng n 1