Question

The following information is based on the balance sheet of Aracel, a Brazilian manufacturer of paper pulp, for Year 6. Aracel applies U.S. GAAP and reports its results in thousands of U.S. dollars. (Adapted from the financial statements of Aracruz Celulose.)
Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 202,704
Other Current Assets . . . . . . . . . . . . . . . . . . . . . . . . 132,782
Other Long-Term Liabilities. . . . . . . . . . . . . . . . . . . 350,761
Property, Plant, and Equipment, net . . . . . . . . . . . . 2,151,212
Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,293,301
Cash and Short-Term Investments. . . . . . . . . . . . . . 579,643
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 192,035
Common Stock (no par). . . . . . . . . . . . . . . . . . . . . . 295,501
Preferred Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 614,496
Other Noncurrent Assets . . . . . . . . . . . . . . . . . . . . . 451,757
Current Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . 286,819
Long-Term Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,155,050
Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . . . . 285,795
a. Prepare a balance sheet for Aracel for Year 6 assuming the firm follows U.S. GAAP.
b. Prepare a balance sheet for Aracel for Year 6 assuming the firm follows IFRS.



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  • CreatedMarch 04, 2014
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