Explanation Given: The amount of current liabilities as of December 31, 2013 is 8,003 million euro. The amount of non-current liabilities as of December 31, 2013 is 12,978 million euro. The amount of current assets as of December 31, 2013 is 5,495 million euro. The amount of non-current assets as of December 31, 2013 is 27,842 million euro. The amount of total equity is 12,356 million euro. Under IFRS, the statement title which is ‘Balance Sheet’ is changed to ‘Statement of Financial Position’, although this title is not mandatory. IFRS does not prescribe a particular format of the balance sheet but under IFRS, balance sheet of a company usually reports non-current items like non-current assets and non-current liabilities first. Therefore, in the balance sheet or statement of financial position of Heineken N. V., non-current assets and non-current liabilities are reported before current assets and current liabilities respectively. Equity is reported after total liabilities. The amount of total assets, total liabilities and total liabilities and equity are calculated as follows: Formula used: T o t a l A s s e t s = T o t a l N o n C u r r e n t A s s e t s + T o t a l C u r r e n t A s s e t s T o t a l L i a b i l i t i e s = T o t a l N o n C u r r e n t L i a b i l i t i e s + T o t a l C u r r e n t L i a b i l i t i e s T o t a l L i a b i l i t i e s a n d E q

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ISBN: 9780077632878

Author: Wild

Publisher: MCG

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Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 2, Problem 22E

To determine

Concept Introduction

Balance sheet: Balance sheet is a financial statement that shows the types of assets, liabilities, and owner’s equity and their respective amounts as on a specific date. It reports on the entity’s financial position as of a specific date. The amount of total assets is equal to the amount of total liabilities owner’s equity as shown in the entity’s balance sheet as on a specific date.

International Financial Reporting Standards (IFRS): International Financial Reporting Standards (IFRS) are a set of international accounting standards that are issued by the International Accounting Standards Board (IASB). IFRS standards state how financial reporting should be done by a company.

To Prepare:** The balance sheet for Heineken N. V. as of December 31, 2013, by following the usual IFRS format.

Expert Solution & Answer

Chapter 2 Solutions

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Ch. 2 - Prob. 1DQ Ch. 2 - What is the difference between a note payable and...Ch. 2 - Prob. 3DQ Ch. 2 - Prob. 4DQ Ch. 2 - Prob. 5DQ Ch. 2 - Prob. 6DQ Ch. 2 - Prob. 7DQ Ch. 2 - Prob. 8DQ Ch. 2 - Prob. 9DQ Ch. 2 - Prob. 10DQ

Ch. 2 - Prob. 11DQ Ch. 2 - Prob. 12DQ Ch. 2 - Prob. 13DQ Ch. 2 - Prob. 14DQ Ch. 2 - Prob. 15DQ Ch. 2 - Prob. 16DQ Ch. 2 - Prob. 17DQ Ch. 2 - Prob. 18DQ Ch. 2 - Prob. 1QS Ch. 2 - Prob. 2QS Ch. 2 - Prob. 3QS Ch. 2 - Prob. 4QS Ch. 2 - Prob. 5QS Ch. 2 - Prob. 6QS Ch. 2 - Prob. 7QS Ch. 2 - Prob. 8QS Ch. 2 - Prob. 9QS Ch. 2 - Prob. 10QS Ch. 2 - Prob. 1E Ch. 2 - Prob. 2E Ch. 2 - Prob. 3E Ch. 2 - Prob. 4E Ch. 2 - Prob. 5E Ch. 2 - Prob. 6E Ch. 2 - Prob. 7E Ch. 2 - Prob. 8E Ch. 2 - Prob. 9E Ch. 2 - Prob. 10E Ch. 2 - Prob. 11E Ch. 2 - Prob. 12E Ch. 2 - Prob. 13E Ch. 2 - Prob. 14E Ch. 2 - Prob. 15E Ch. 2 - Prob. 16E Ch. 2 - Prob. 17E Ch. 2 - Prob. 18E Ch. 2 - Exercise 2-19 Analyzing changes in a company's...Ch. 2 - Prob. 20E Ch. 2 - Prob. 21E Ch. 2 - Prob. 22E Ch. 2 - Prob. 23E Ch. 2 - Prob. 1APSA Ch. 2 - Prob. 2APSA Ch. 2 - Prob. 3APSA Ch. 2 - Prob. 4APSA Ch. 2 - Prob. 5APSA Ch. 2 - Prob. 6APSA Ch. 2 - Prob. 1BPSB Ch. 2 - Prob. 2BPSB Ch. 2 - Prob. 3BPSB Ch. 2 - Prob. 4BPSB Ch. 2 - Prob. 5BPSB Ch. 2 - Prob. 6BPSB Ch. 2 - Prob. 2SP Ch. 2 - Prob. 1GLP Ch. 2 - Prob. 2GLP Ch. 2 - Prob. 3GLP Ch. 2 - Prob. 4GLP Ch. 2 - Prob. 5GLP Ch. 2 - Prob. 6GLP Ch. 2 - Prob. 7GLP Ch. 2 - Prob. 8GLP Ch. 2 - ( REPORTING IN ACTION A 1 A2...Ch. 2 - Prob. 2BTN Ch. 2 - Prob. 3BTN Ch. 2 - Prob. 4BTN Ch. 2 - Prob. 5BTN Ch. 2 - Prob. 6BTN Ch. 2 - Prob. 7BTN Ch. 2 - Prob. 8BTN Ch. 2 - Prob. 9BTN Ch. 2 - Prob. 10BTN

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