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