Days' cash on hand Financial statement data for years ending December 31 for Newton Company follow: 20Y9 20Y8 Cash (end of year) $25,500 $24,250 Short-term investments (end of year) 8,270 9,460 Operating expenses 60,135 63,780 Depreciation expense 13,225 11,400 Determine the days’ cash on hand for 20Y8 and 20Y9. Assume 365 days in a year. Round all calculations to one decimal place. Days’ Cash on Hand 20Y8 days 20Y9: days
Days' cash on hand Financial statement data for years ending December 31 for Newton Company follow: 20Y9 20Y8 Cash (end of year) $25,500 $24,250 Short-term investments (end of year) 8,270 9,460 Operating expenses 60,135 63,780 Depreciation expense 13,225 11,400 Determine the days’ cash on hand for 20Y8 and 20Y9. Assume 365 days in a year. Round all calculations to one decimal place. Days’ Cash on Hand 20Y8 days 20Y9: days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Days' cash on hand
Financial statement data for years ending December 31 for Newton Company follow:
| 20Y9 | 20Y8 | |
| Cash (end of year) | $25,500 | $24,250 |
| Short-term investments (end of year) | 8,270 | 9,460 |
| Operating expenses | 60,135 | 63,780 |
| 13,225 | 11,400 |
Determine the days’ cash on hand for 20Y8 and 20Y9. Assume 365 days in a year. Round all calculations to one decimal place.
| Days’ Cash on Hand | ||
| 20Y8 | days | |
| 20Y9: | days |
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