Number of cash days Financial statement data for Newton Company for the years ended December 31 are as follows: 20Y9 20Y8 Cash (year-end) $25,500 $24,250 Short-term investments (year-end) 8,270 9,460 Operating expenses 60,135 63,780 Depreciation expense 13,225 11,400 Determination of days Cash on hand for 20Y8 and 20Y9. Suppose there are 365 days in a year. Round all calculations to one decimal place.

Answer rating: 100% (QA)

To determine the number of cash days for Newton Company we need to use the following formula Cash Days Cash Shortterm Investments Operating Expenses D... View the full answer