A Brazilian manufacturer of paper pulp

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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.)

a. Prepare a balance sheet for Aracel for Year 6 assuming the firm follows U.S. GAAP.


Aracel
Balance Sheet
For Fiscal Year 6 (amounts in thousands of US$)
Assets
  
Current Assets:
  
 
 
$
 
 
 
 
 
 
 
 
 
Total Current Assets
 
$
Noncurrent Assets:
  
 
 
$
 
 
 
 
 
 
Total Noncurrent Assets
 
$
Total Assets
 
$
Liabilities and Shareholders' Equity
  
 
 
$
Noncurrent Liabilities:
  
 
 
$
 
 
 
Total Noncurrent Liabilities
 
 
Shareholders' Equity:
  
 
 
$
 
 
 
 
 
 
Total Shareholders' Equity
 
$
Total Liabilities and Shareholders' Equity
 
$

 

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b. Prepare a balance sheet for Aracel for Year 6 assuming the firm follows IFRS.


Aracel
Balance Sheet
For Fiscal Year 6 (amounts in thousands of US$)
Assets
  
Noncurrent Assets:
  
 
 
$
 
 
 
 
 
 
Total Noncurrent Assets
 
$
Current Assets:
  
 
 
$
 
 
 
 
 
 
 
 
 
Total Current Assets
 
$
Total Assets
 
$
Liabilities and Shareholders' Equity
  
Shareholders' Equity:
  
 
 
$
 
 
 
 
 
 
Total Shareholders' Equity
 
$
Noncurrent Liabilities:
  
 
 
$
 
 
 
Total Noncurrent Liabilities
 
$
 
 
$
Total Liabilities and Shareholders' Equity
 


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