Selected Data from the Financial Statements of Mars & Venus

question 138

Essay

Selected data from the financial statements of Mars & Venus Counselling Centre for the years ended December 31,Year 2 and Year 1,are presented below:

What is the amount of cash and cash equivalents at the end of Year 2?

---

Definitions:

Inflation Rate

The rate at which the general level of prices for goods and services rises, eroding purchasing power.

Currency Gain

Currency gain occurs when the value of one's foreign currency holdings increases due to exchange rate fluctuations, resulting in a higher value when converted.

Value

Value in finance refers to the monetary, material, or assessed worth of an asset, investment, or company.

Governments

are the organized systems of authority that regulate communities or societies and provide structure for political, economic, and social interactions.