Days' cash on hand Financial statement data for years ending December 31 for Newton Company follow:   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. Days’ Cash on Hand 20Y8   days 20Y9:   days

Financial Accounting: The Impact on Decision Makers
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Author:Gary A. Porter, Curtis L. Norton
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Chapter6: Cash And Internal Control
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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) $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.

Days’ Cash on Hand
20Y8   days
20Y9:   days
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