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Delvig [45]
3 years ago
13

When studying abroad last year, Thomas found that his U.S. dollars didn't stretch as far as he had expected. Each time he exchan

ged his dollars for euros, he had to give up more dollars in exchange for fewer euros. The exchange rate indicates
Business
1 answer:
Andrei [34K]3 years ago
7 0

Answer:

The euro has gained strength against the dollar.

Explanation:

Exchange rate is a measure of the value of one countrie's currency compared with another. For example how many dollars can be exchanged for a euro.

Most exchange rates are free floating, meaning their value is determined by market forces (demand and supply).

Some countries however peg their currency value.

So in this scenario Thomas is giving more dollars for fewer euros because the euro has more value.

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The following information is available for Birch Company at December 31: Cash in registers $ 2,910 Investment maturing in 9 year
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Based on the various account balances that Birch Company has, they should report a total of<u> $38,061 </u>for Cash and Cash equivalents.

Cash and Cash Equivalents are the actual cash that a company holds as well as those that can readily be converted to cash.

They include:

  • Actual cash
  • Cash in bank
  • Cash in petty cash
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The total of cash and cash equivalent here are:

<em>= Cash in registers + Cash in bank + Cash in petty cash + U.S. Treasury bills</em>

= 2,910 + 23,631 + 320 + 11,200

= $38,061

In conclusion, Birch Company has Cash and Cash Equivalents of $38,061.

<em>Find out more at brainly.com/question/9505730.</em>

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