Business, 20.03.2020 07:15 Marliii363782

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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Answer from: parislover2000

The days' cash on hand in 20Y9 is 262.8 days and in 20Y8 is 234.9 days.

Operating expenses for 20Y9 = (Operating expenses - Depreciation expense) / 365

Operating expenses for 20Y9 = ($60,135 - $13,225) / 365

Operating expenses for 20Y9 = $46,910 / 365

Operating expenses for 20Y9 = 128.5

Days cash on hand 20Y9 = (Cash + Short-term investments) / Operating expenses for 20Y9

Days cash on hand 20Y9 = ($25,500 + $8,270) / 128.5

Days cash on hand 20Y9 = $33,770 / 128.5

Days cash on hand 20Y9 = 262.8 days

Operating expenses for 20Y8 = (Operating expenses - Depreciation expense) / 365

Operating expenses for 20Y8 = ($63,780 - $11,400) / 365

Operating expenses for 20Y8 = $52,380 / 365

Operating expenses for 20Y8 = 143.5

Days cash on hand 20Y8 = (Cash + Short-term investments) / Operating expenses for 20Y8

Days cash on hand 20Y8 = ($24,250 + $9,460) / 143.5

Days cash on hand 20Y8 = $33,710 / 143.5

Days cash on hand 20Y8 = 234.9 days

In conclusion, the days' cash on hand in 20Y9 is 262.8 days and in 20Y8 is 234.9 days.

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Answer from: tonimgreen17p6vqjq

Days cash on hand 20Y9 = 262.8 days

Days cash on hand 20Y8 = 234.9 days

Explanation:

The computation of cash on hand is shown below:-

Operating expenses for 20Y9 = Operating expenses - Depreciation expense ÷ 365

= ($60,135 - $13,225) ÷ 365

= 128.5

Operating expenses for 20Y8 = Operating expenses - Depreciation expense ÷ 365

= ($63,780 - $11,400) ÷ 365

= 143.5

Days cash on hand 20Y9 = cash + Short-term investments ÷ Operating expenses for 20Y9

$25,500 + $8,270 ÷ 128.5

= 262.8 days

Days cash on hand 20Y8 = cash + Short-term investments ÷ Operating expenses for 20Y8

= ($24,250 + $9,460) ÷ 143.5

= 234.9 days

Answer from: Quest

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Answer from: Quest

In line with other previous and contemporaneous proposals, in 1912 the meteorologist alfred wegener amply described what he called continental drift, expanded in his 1915 book the origin of continents and oceans and the scientific debate started that would end up fifty years later in the theory of plate tectonics.

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Days' cash on hand Financial statement data for years ending December 31 for Newton Company follow:...