A USFirm Has Total Assets Valued at £318,000 Located in London

question 23

Multiple Choice

A U.S.firm has total assets valued at £318,000 located in London.This valuation did not change from last year.Last year, the exchange rate was £.61 = $1.Today, the exchange rate is £.63 = $1.By what amount did these assets change in value on the firm's U.S.financial statements?

• A)-$16,549.57
• B)-$13,511.03
• C)-$12,248.91
• D)$13,511.03
• E)$0

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