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Assignment 2: Cash Management

by | Mar 26

By Wednesday, October 4, 2017 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   Maximum Points    

Correctly calculated that amount in dollars the cash management system will free up and justified the response.  30    

Correctly calculated income and justified response.  30    

Clearly explained if the new system should be implemented.  30    

Wrote in a clear, concise,  and organized manner; demonstrated ethical scholarship in accurate  representation and attribution of sources; displayed accurate spelling,  grammar, and punctuation.  10   

 Total:  100



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