César Iván Carranza A01334512

Fecha 2/6/2022

Tarea 5

Introducción a las Finanzas Corporativas

ITEM Beginning Ending Average
Inventory 16,284.00 19,108.00 17,696.00
Accounts Receivable 11,219.00 13,973.00 12,596.00
Accounts Payable 13,960.00 16,676.00 15,318.00
Net Sales 219,320.00
Cost of Goods Sold 168,420.00

Inventory turnover 9.5174050633 times Payables turnover 10.99491 times

Inventory period 38.350789692 days Payables period 33.19719 days

Receivables turnover 17.411876786 times

Receivables period 20.9627029 days

Operating cycle 59.313492592 days Cash cycle 26.11631 days

This tells us, on average, 59 days elapse between the There is a 26 fay delay between the time
time we aquire inventory, having it sold, collect for we pay or merchandise and the time we
the sale. collect on sale
 Previous Quarter January February March
Sales budget 325,000.00 373,800.00 384,600.00
Accounts Receivable 149,680.00
Unollected in December 94,340.00

Credit sales 65% in the month of the sale

20% in the month after the sale
15% in the second month after the sale

a) November sales 368,933.33

b)December sales 269,542.86
c) January collections 320,498.57
February Collections 348,401.43
March Collections 373,500.00
 March April May June
Credit Sales 266,112 481,250 501,840 555,032
Credit purchases 197,680 186,280 222,320 253,904
Cash disbursements
Wages, taxes, and expenses 50,371 61,091 63,736
Interest 14,450 14,450 14,450
Equipment purchases 105,100 115,360 -
Credit sales never collected 5%
Sales Collected in month of sale 35%
Collected in the next month of sale 60%

March April May June

Beginning cash balance 354,800.00 315,303.70 402,516.70
Cash receipts
Cash collections from credit sales 328,104.70 464,394.00 495,365.20
Total cash available 682,904.70 779,697.70 897,881.90
Cash disbursements
Purchases 197,680.00 186,280.00 222,320.00
Wages, taxes and expenses 50,371.00 61,091.00 63,736.00
Interest 14,450.00 14,450.00 14,450.00
Equipment purchases 105,100.00 115,360.00 -
Total cash disbursements 367,601.00 377,181.00 300,506.00
Ending cash balance 315,303.70 402,516.70 597,375.90
Checks processes 5850 per month a)
70% 50 dollars
delayed 2 days on average
30% 75 dollars b)
delayed 3 days on average

c)

d)

e)
Average daily collection float
26,812.50 uncollected and not available for the company

Total collections 336,375.00

Weighted average delay 2.39 days
Average daily float 26,812.50

The most a firm should pay is the average daily float 26,812.50

Average daily interest rate 0.0185%

Daily coast of the float 4.97

The most a firm should pay is the amount the average daily float is reduced

Average daily float reduction 16,818.75

Floyd Bank
Collections a day 2,700,000.00
Compensating balance 425,000.00

Banks A and B
Collections each 1,350,000.00 NPV 2,665,000.00
Compensating balance 230,000.00 Net Savings 133,250.00

Tbill rate 5%
should proceed with new system