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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) $24,490 $23,716 Short-term
Days' cash on hand
Financial statement data for years ending December 31 for Newton Company follow:
20Y9 | 20Y8 | |
Cash (end of year) | $24,490 | $23,716 |
Short-term investments (end of year) | 8,270 | 9,460 |
Operating expenses | 59,240 | 64,195 |
Depreciation expense | 13,250 | 12,000 |
Determine the days cash on hand for 20Y8 and 20Y9. Assume 365 days in a year.
Days Cash on Hand | ||
20Y8: | days | |
20Y9: | days |
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