solucionario evaluacion de inversiones de largo plazo

MODULO DE VENTAS
Unidades
10,400.00 Valor de venta
IGV 18%
Precio de Venta

Ao 1
100.00
1,040,000.00
187,200.00
1,227,200.00

Ao 2
120.00
1,248,000.00
224,640.00
1,472,640.00

Ao 3
144.00
1,497,600.00
269,568.00
1,767,168.00

Ao 4

Ao 2

Ao 3

173.00
1,799,200.00
323,856.00
2,123,056.00

MODULO DE INVERSIONES,COSTOS Y GASTOS EN EFECTIVO

Ao 0
INVERSIONES

Ao 1

111,600.00

Mobiliario yequipos

20,000.00

Camioneta

50,000.00

Capital de trabajo

41,600.00

8,320.00

9,984.00

12,064.00

8,320.00

9,984.00

12,064.00

800,000.00
168,900.00

960,000.00
170,980.00

1,152,000.00
173,476.00

Alquiler de local

38,500.00

38,500.00

38,500.00

Planilla de sueldos

90,000.00

90,000.00

90,000.00

Gastos de Publicidad

10,400.00

12,480.00

14,976.00

Gastos de Seguros

12,000.00

12,000.00

12,000.00

Gastos generales

18,000.00

18,000.00

18,000.00

111,600.00

977,220.00

1,140,964.00

1,337,540.00

Ao 0

Ao 1

Ao 2

8,000.00 COSTO DE LA MERCADERIA

GASTOS OPERATIVOS

TOTAL SIN IGV

INVERSIONES

124,200.00

8,320.00

Ao 3

9,984.00

12,064.00

Mobiliario

23,600.00

Equipos diversos

59,000.00

Capital de trabajo

41,600.00

8,320.00

9,984.00

12,064.00

0.00
0.00

944,000.00
183,102.00

1,132,800.00
185,941.40

1,359,360.00
188,886.68

Alquiler de local

45,430.00

45,815.00

45,815.00

Planilla de sueldos

90,000.00

90,000.00

90,000.00

Gastos de Publicidad

12,272.00

14,726.40

17,671.68

Gastos de Seguros

14,160.00

14,160.00

14,160.00

Gastos generales

21,240.00

21,240.00

21,240.00

1,135,422.00

1,328,725.40

1,560,310.68

COSTO DE LA MERCADERIA
GASTOS OPERATIVOS

TOTAL CON IGV

124,200.00

MODULO DE LIQUIDACION DEL IGV

Ao 0

Ao 1

IGV VENTAS

Ao 2

Ao 3

187,200.00

224,640.00

269,568.00

IGV COMPRAS

12,600.00

158,202.00

187,761.40

222,770.68

Liquidacin IGV

-12,600.00

28,998.00

36,878.60

46,797.32

Crdito Fiscal

-12,600.00

16,398.00

36,878.60

46,797.32

Neto a Pagar

0.00

MODULO DE LA PROYECCION DEL ESTADO DE RESULTADOS

Ao 1

Ao 2

1,040,000.00

1,248,000.00

1,497,600.00

1,799,200.00

-800,000.00

-960,000.00

-1,152,000.00

-1,384,000.00

Utilidad Bruta

240,000.00

288,000.00

345,600.00

415,200.00

( - )Gastos de Operacin

180,900.00

182,980.00

185,476.00

188,492.00

2,000.00

2,000.00

2,000.00

2,000.00

Depreciacin vehculos

10,000.00

10,000.00

10,000.00

10,000.00

Alquiler de local

38,500.00

38,500.00

38,500.00

38,500.00

Planilla de sueldos

90,000.00

90,000.00

90,000.00

90,000.00

Gastos de Publicidad

10,400.00

12,480.00

14,976.00

17,992.00

Gastos de Seguros

12,000.00

12,000.00

12,000.00

12,000.00

Gastos generales

18,000.00

18,000.00

18,000.00

18,000.00

59,100.00

105,020.00

160,124.00

226,708.00

Ventas
(-) Costo de Ventas

Depreciacin muebles y equip

Utilidad Operativa

Ao 3

Ao 4

( + ) OTROS INGRESOS
( - ) Gastos Financieros
Utilidad antes de Impuestos
( - ) Impuesto a la Renta
Utilidad Neta

35,507.68

14,997.56

0.00

0.00

23,592.32

90,022.44

160,124.00

226,708.00

7,077.70

27,006.73

48,037.20

68,012.40

16,514.63

63,015.71

112,086.80

158,695.60

EGYP POR CONTRIBUCION

Ao 1

Ventas
Costo variable
UMC
Costo fijo
Utilidad Operativa
MARGEN UMC
P.E =
MS =
GAO =

Ao 2

Ao 3

Ao 4

1,040,000.00
-810,400.00
229,600.00
170,500.00
59,100.00

1,248,000.00
-972,480.00
275,520.00
170,500.00
105,020.00

1,497,600.00
-1,166,976.00
330,624.00
170,500.00
160,124.00

1,799,200.00
-1,401,992.00
397,208.00
170,500.00
226,708.00

0.22
170,499.78
83.61%
3.88

0.22
170,499.78
86.34%
2.62

0.22
170,499.78
88.62%
2.06

0.22
170,499.78
90.52%
1.75

0.0380
CUADRO AMORTIZACION DE PRESTAMO
AMORTIZACION
INTERES
CUOTA

MES
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24

2,446.04
2,538.99
2,635.48
2,735.62
2,839.58
2,947.48
3,059.49
3,175.75
3,296.43
3,421.69
3,551.71
3,686.68
3,826.77
3,972.19
4,123.13
4,279.81
4,442.45
4,611.26
4,786.49
4,968.37
5,157.17
5,353.14
5,556.56
5,767.71

3,540.84
3,447.89
3,351.41
3,251.26
3,147.31
3,039.40
2,927.40
2,811.14
2,690.46
2,565.20
2,435.17
2,300.21
2,160.11
2,014.69
1,863.75
1,707.07
1,544.44
1,375.63
1,200.40
1,018.51
829.71
633.74
430.32
219.17

5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88
5,986.88

93,180.00

50,505.24

143,685.24

MODULO DEL FLUJO DE CAJA

Ao 0
Ingresos de Efectivo
Ventas
Recuperacin del C de W
Recuperacin del activo fijo
Egresos de Efectivo
Inversiones
Pago Liquidacin del IGV
Pago del Impuesto a la Renta
Pago compra de ecgrafos
Pago gastos operativos
FLUJO DE CAJA ECONOMICO

Financiamiento
Prstamo
Amortizacin
Escudo Fiscal
Intereses

Ao 1

Ao 2

Ao 3

0.00
0.00

1,227,200.00
1,227,200.00

1,472,640.00
1,472,640.00

1,767,168.00
1,767,168.00

124,200.00
124,200.00
0.00
0.00
0.00
0.00

1,169,550.00
8,320.00
16,398.00
17,730.00
944,000.00
183,102.00

1,397,110.00
9,984.00
36,878.60
31,506.00
1,132,800.00
185,941.40

1,655,145.20
12,064.00
46,797.32
48,037.20
1,359,360.00
188,886.68

-124,200.00

57,650.00

75,530.00

112,022.80

-36,334.94
10,652.30
-35,507.68

-56,845.06
4,499.27
-14,997.56

93,180.00

FLUJO DE CAJA FINANCIERO

-31,020.00

-3,540.32

8,186.65

112,022.80

SALDO INICIAL DE CAJA

SALDO FINAL DE CAJA

31,020.00
0.00

0.00
-3,540.32

-3,540.32
4,646.33

4,646.33
116,669.13

CALCULO VANE
CALCULO VANF

91,718.10
241,122.52

BALANCE GENERAL PROYECTADO

Ao 0
ACTIVO

Ao 1

Ao 2

Ao 3

EFECTIVO
CAPITAL DE TRABAJO
IGV A FAVOR
ACTIVO FIJO
( - ) DEPREC.ACUM
TOTAL ACTIVO
PASIVO
PRESTAMOS POR PAGAR
CAPITAL SOCIAL
RESULTADO ACUMULADO
RESULTADO EJERCICIO
TOTAL PASIVO Y PATRIM.

0.00
41,600.00
12,600.00
70,000.00

-3,540.32
49,920.00

4,646.33
59,904.00

116,669.13
71,968.00

124,200.00

70,000.00
-12,000.00
104,379.68

70,000.00
-24,000.00
110,550.33

70,000.00
-36,000.00
222,637.13

93,180.00
31,020.00
0.00
0.00
124,200.00

56,845.06
31,020.00
0.00
16,514.63
104,379.68

31,020.00
16,514.63
63,015.71
110,550.33

31,020.00
79,530.33
112,086.80
222,637.13

93,180.00
31,020.00
124,200.00

PART %
75.02%
24.98%
100.00%

calculo tasa wacc:

PASIVO
PATRIMONIO
TOTAL :

COSTO
AJUSTE
56.45%
39.51%
9.00%
9.00%
tasa WACC =

Ao 4
0.00

1,384,000.00
176,492.00
38,500.00
90,000.00
17,992.00
12,000.00
18,000.00

1,560,492.00
Ao 4
0.00

1,633,120.00
192,445.56
45,815.00
90,000.00
21,230.56
14,160.00
21,240.00

1,825,565.56

Ao 4

LIQUIDACION
323,856.00

3,960.00

265,073.56

0.00

58,782.44

3,960.00

58,782.44

3,960.00

LIQUIDACION

12,000.00
10,000.00

-22,000.00
22,000.00

0.00
0.00

DE PRESTAMO
SALDO
93,180.00
90,733.96
88,194.96
85,559.48
82,823.86
79,984.28
77,036.80
73,977.31
70,801.57
67,505.14
64,083.45
60,531.74
56,845.06
53,018.29
49,046.10
44,922.96
40,643.15
36,200.70
31,589.45
26,802.96
21,834.59
16,677.42
11,324.27
5,767.71
0.00

Ao 4
2,123,056.00
2,123,056.00

LIQUIDACION
97,928.00
71,968.00
25,960.00

1,952,360.40
0.00
58,782.44
68,012.40
1,633,120.00
192,445.56

3,960.00

170,695.60

93,968.00

3,960.00

170,695.60

93,968.00

116,669.13
287,364.73

287,364.73
381,332.73

Ao 4

LIQUIDAC.

287,364.73
71,968.00

381,332.73

70,000.00
-48,000.00
381,332.73

381,332.73

31,020.00
191,617.13
158,695.60
381,332.73

31,020.00
350,312.73
0.00
381,332.73

WACC
29.64%
2.25%
31.89%