FINANCIAL AND MANAGERIAL ACCOUNTING
FINANCIAL AND MANAGERIAL ACCOUNTING
13th Edition
ISBN: 9781337816045
Author: WARREN
Publisher: CENGAGE L
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Chapter 7, Problem 7.7CP

a.

To determine

Cash and cash equivalents: Cash is the money readily available in the form of currency. Cash equivalents are the near-cash items, which are readily convertible into cash.  Cash equivalents have a maturity period of three months, or less than 3 months.

To compute: Monthly cash expenses for Year 3, Year 2 and Year 1.

b.

To determine

To compute: the ratio of cash to monthly cash expenses.

c.

To determine

To comment: Ratio of cash to monthly operating expenses for Year 3, Year 2, and Year

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