Days' cash on handFinancial statement data for years ending December 31 for NewtonCompany follow: 20Y920Y8Cash (end of year)Short-term investments (end of year)Operating expensesDepreciation expense$25,5008,27060,13513,225$24,2509.46063,78011,400Determine the days' cash on hand for 20Y8 and 2019. Round allcalculations to one decimal place.

The analysis of several elements of financial information in the financial statements is referred to…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

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) Short-term investments (end of year) Operating expenses Depreciation expense	$25,500 8,270 60,135 13,225	$24,250 9.460 63,780 11,400

Determine the days' cash on hand for 20Y8 and 2019. Round all
calculations to one decimal place.

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