pays' cash on hand Financial statement data for years ending December 31 for Newton Company follow: 20Y9 20Y8 Cash (end of year) $25,538 $24,078 Short-term investments (end of year) 8,260 9,480 Operating expenses 60,135 63,465 Depreciation expense 13,050 12,000 Determine the days' cash on hand for 20Y8 and 20Y9. Assume 365 days in a year.

pays' cash on hand Financial statement data for years ending December 31 for Newton Company follow: 20Y9 20Y8 Cash (end of year) $25,538 $24,078 Short-term investments (end of year) 8,260 9,480 Operating expenses 60,135 63,465 Depreciation expense 13,050 12,000 Determine the days' cash on hand for 20Y8 and 20Y9. Assume 365 days in a year.

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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Simbop Company reported 2020 net income of $151,000. During 2020, accounts receivable increased by $15,010 and accounts payable increased by $9,966. Depreciation expense was $39,300.Prepare the cash flows from operating activities section of the statement of cash flows.
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2. 7 Days' cash on hand Financial statement data for years ending December 31 for Newton Company follow: Line Item Description 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. Year Days’ Cash on Hand 20Y8: fill in the blank 1 of 2 days 20Y9: fill in the blank 2 of 2 days Feedback Area Feedback Days' Cash on Hand = (Cash and Short-Term Investments) ÷ [(Operating Expenses - Depreciation Expense) ÷ 365 days] to obtain the ratio.
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