Days' cash on handFinancial statement data for years ending December 31 for Newton Company follow: 20Y920Y8Cash (end of year)$24,970$24,386Short-term investments (end of year)8,2809,410Operating expenses58,77562,830Depreciation expense13,15011,000 Determine the days’ cash on hand for 20Y8 and 20Y9. Assume 365 days in a year.

Days' Cash on Hand : It's the number of days that an organization can continue to pay its operating…

Answered: Determine the days’ cash on hand for…

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)	$24,970	$24,386
Short-term investments (end of year)	8,280	9,410
Operating expenses	58,775	62,830
Depreciation expense	13,150	11,000

Determine the days’ cash on hand for 20Y8 and 20Y9. Assume 365 days in a year.

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