QuickHelper

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About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 356 Weeks Ago, 4 Days Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Accounting Posted 13 Jun 2017 My Price 10.00

paper M2A2

Question description

 

 

solve the following problem. Norma’s Cat Food of Shell Knob ships cat food throughout the country. Norma has determined that through the establishment of local collection centers around the country, she can speed up the collection of payments by two and one-half days. Furthermore, the cash management department of her bank has indicated to her that she can defer her payments on her accounts by one-half day without affecting suppliers. The bank has a remote disbursement center in Iowa.

  1. If the company has $5 million per day in collections and $3 million per day in disbursements, how many dollars will the cash management system free up?  Justify your answers.
  2. If the company can earn 8 percent per annum on freed-up funds, how much will the income be? Justify your answers.
  3. If the annual cost of the new system is $800,000, should it be implemented? Explain why or why not.

 

Assignment 2 Grading Criteria
Correctly calculated that amount in dollars the cash management system will free up and justified the response.
Correctly calculated income and justified response.
Clearly explained if the new system should be implemented.
Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation.

Answers

QuickHelper
(10)
Status NEW Posted 13 Jun 2017 08:06 PM My Price 10.00

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