Question: Given the following balance sheet and income statement data for the year ended December 31, what is the days' cash on hand? Line Item Description

Given the following balance sheet and income statement data for the year ended December 31, what is the days' cash on hand?

Line Item Description Amount
Cash and short-term investments $270,000
Total operating expenses 580,000
Depreciation expense 130,000

a.49 days

b.219 days

c.139 days

d.170 days

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Managers at Wagner Fabricating Company are reviewing the economic feasibility of manufacturing a part that the company currently purchases from a supplier. Forecasted annual demand for the part is...

Q:

Given the following balance sheet and income statement data for the year ended December 31, what are the cash expenses for the year? Cash $300,000 Short-term investments 400,000 Accounts receivable...

Q:

"[McDonald's] franchises and operates McDonald's restaurants, which serve a locally-relevant menu of quality food and beverages in 119 countries - From McDonald's 2020 annual report. In this...

Q:

i am desperate need of help with my homework. Please help. Assets 2014 Cash 2013 $ 142,208 $ 85,184 Accounts receivable 154,528 66,880 Inventory 198,000 181,016 Prepaid expenses 49,984 45,760...

Q:

Assume that you are purchasing shares in a company in the variety store and gas bar supply business. Suppose you have narrowed the choice to BFI Trading Ltd. and Lin Corp. and have assembled the...

Q:

Is BFI Trading Ltd.s profit performance better or worse than Lin Corp? Explain your reasoning. Return on Sales Return on Sales BFI Trading Ltd. 82,000.00 1,060,000.00 = 7.74 Lin Corp. 124,000.00...

Q:

Assume that you are purchasing shares in a company in the variety store and gas bar supply business. Suppose you have narrowed the choice to BFI Trading Ltd. and Lin Corp. and have assembled the...

Q:

50M Inc. reported the following balance sheet and income statement at its annual year-end of December 31. Balance Sheets As of December 31 Assets 2019 2020 Cash $30,000 $43,000 Investments,...

Q:

I am having difficulty filling out the deduction part to this 1120 page one. Page 1 of 5 ACC 316 Fed Tax II 1120 Corporation Tax Project The purpose of this project is to give you an idea of what...

Q:

B C D 1 w N $ 810,000 460,000 350,000 B Merry Time Lighting 2 Income Statement 3 For the Year Ended December 31, 2021 4 Net Sales Revenue 5 Cost of Goods Sold 6 Gross Profit 7 Operating Expenses: 8...

Q:

I JUST NEED THE RATIO ANALYSIS AND WRITE UP AT THE END C D $ 810,000 460,000 350,000 . B 1 Merry Time Lighting 2. Income Statement 3 For the Year Ended December 31, 2021 4 Net Sales Revenue 5 Cost of...

Q:

The paired data below consist of weights (in kilograms) of discarded paper and sizes of the households. Paper Household size 2 1.09 3.43 4.33 4.00 3.96 3.16 3.10 5.18

Q:

2. The effects of three levels of vitamin B12 on average daily weight gain of pigs were compared. Each level was fed to 3 different pigs. The following results were recorded. Treatment 5 10 20 1 1.44...

Q:

On July 8 , 2 0 1 9 , Smile Dentistry performed cash services of $ 1 , 9 0 0 . The entry to record this tronsaction would include a . a credit to Accounts Payable of $ 1 , 9 0 0 . b . a debit to Cash...

Q:

As a new staff accountant for the Bestever CPA firm, you have been asked to prepare the 2016 individual tax return for Tom Brown. Bestever CPA firm had Tom sign an engagement letter and gave him a...

Q:

Which of the two processes (creative and rational )is greater determinant of successful change in an organization? Provide examples to support your conclusion.

Q:

The PMBOK Guide states that the planning process includes actions necessary to define, integrate, and coordinate all subsidiary plans into a project management plan. This implies that in bottom-up...

Q:

Read the annual report (or alternatively the 10K) of a company from cover to cover. Pay particular attention to the financial statements, managements discussion of financial results, and the...

Q:

A loan is repaid in 20 equal annual payments starting one year from the time the loan was made. Suppose that the first interest payment (/) is $7,877.50 and the 11th interest payment, (Iu) is...

Q:

You are asked to assess the current service model for a manufacturing line featuring 8 machines. Based on empirical data you have determined that machines have an 2 3 % likelihood of being down and...

Q:

a. Employee-of-the-month awards for highest sales. (A special plaque would be used to recognize each monthly winner.)

Q:

Understand how to use positive reinforcement to improve relationships and reward behavior.

Q:

1. Your company is considering adopting a tobaccofree employee hiring practice. As the Director of Human Resources, you have been charged to research the legality of this proposal and provide...