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.
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.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.2E
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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 |
| 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.
![Days' cash on hand
Financial statement data for years ending December 31 for Newton Company follow:
20Y9
20Y8
$25,500
$24,250
8,270
9,460
60,135
63,780
13,225 11,400
Cash (end of year)
Short-term investments (end of year)
Operating expenses
Depreciation expense
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
X days
X days
20Y8:
20Y9:
Feedback
▼ Check My Work
Days' Cash on Hand = (Cash and Short-Term Investments) + [(Operating Expenses - Depreciation Expense) ÷ 365 days]
to obtain the ratio.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1b94d3bc-2b1b-4a50-bde5-76c25cf1444b%2Fd07a5aa0-5f86-4322-8abe-d0900bc9a49f%2Fbr7o4jw_processed.png&w=3840&q=75)
Transcribed Image Text:Days' cash on hand
Financial statement data for years ending December 31 for Newton Company follow:
20Y9
20Y8
$25,500
$24,250
8,270
9,460
60,135
63,780
13,225 11,400
Cash (end of year)
Short-term investments (end of year)
Operating expenses
Depreciation expense
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
X days
X days
20Y8:
20Y9:
Feedback
▼ Check My Work
Days' Cash on Hand = (Cash and Short-Term Investments) + [(Operating Expenses - Depreciation Expense) ÷ 365 days]
to obtain the ratio.
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