Mojca, headquartered in Luxembourg, is the largest steel producer in the world.

Question

Mojca, headquartered in Luxembourg, is the largest steel producer in the world. It reports using IFRS. Following are tems from the company's December 31, 2010 balance sheet (n millions of U.S. dolars E,(Q?Ck20 icon to view the balance sheet data) 1. Prepare the iabilities section of Mojica's balance sheet. Classify labliies into cunent and noncurment portions. Omit items that are not iabilities Iinclude the appropriate number for total nonoument liabilities in millions of U.S. dollars) Current liabilities: Total current liabilises

Explanation / Answer

Current Liabilities:

Liabilities held for sale & distribution $4037

Short term debt& current long term debt $8430

Trade accounts payable $10550

Short term provisions $3260

Accrued expenses & other liability $7440

Income tax liabilities $800

Total current liabilities $34517

Non Current Liabilities:

Long term debt, net of current portion $25650

long term provisions $2380

Deferred emplyee benefits $7150

Other long term obligations $1570

Deferred tax liabilities $6350

Total non current liabilities $43100

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