Financial statement data for years ending December 31 for Newton Company follow: Line Item Description 20Y9 20Y8 Cash (end of year) $26,270 $23,260 Short-term investments (end of year) 8,290 9,500 Operating expenses 60,070 62,700 Depreciation expense 13,350 11,600 Determine the days’ cash on hand for 20Y8 and 20Y9. Assume 365 days in a year. Year Days’ Cash on Hand 20Y8: fill in the blank 1 of 2 days 20Y9: fill in the blank 2 of 2 days
Financial statement data for years ending December 31 for Newton Company follow: Line Item Description 20Y9 20Y8 Cash (end of year) $26,270 $23,260 Short-term investments (end of year) 8,290 9,500 Operating expenses 60,070 62,700 Depreciation expense 13,350 11,600 Determine the days’ cash on hand for 20Y8 and 20Y9. Assume 365 days in a year. Year Days’ Cash on Hand 20Y8: fill in the blank 1 of 2 days 20Y9: fill in the blank 2 of 2 days
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter15: Capital Investment Analysis
Section: Chapter Questions
Problem 15.2.1MBA
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Financial statement data for years ending December 31 for Newton Company follow:
| Line Item Description | 20Y9 | 20Y8 |
|---|---|---|
| Cash (end of year) | $26,270 | $23,260 |
| Short-term investments (end of year) | 8,290 | 9,500 |
| Operating expenses | 60,070 | 62,700 |
| 13,350 | 11,600 |
Determine the days’ cash on hand for 20Y8 and 20Y9. Assume 365 days in a year.
| Year | Days’ Cash on Hand |
|---|---|
| 20Y8: | fill in the blank 1 of 2 days |
| 20Y9: | fill in the blank 2 of 2 days |
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