Solved by verified expert :Case 3-60
Diageo is a United Kingdom (UK) consumer products firm, best known in
the United States for the following brand names: Smirnoff, Johnnie Walker,
J&B, Gordon’s, Seagram’s, and Guinness. Diageo’s 2011 consolidated balance
sheet follows.Case 3-60Diageo is a United Kingdom (UK) consumer products firm, best known in
the United States for the following brand names: Smirnoff, Johnnie Walker,
J&B, Gordon’s, Seagram’s, and Guinness. Diageo’s 2011 consolidated balance
sheet follows.Recreate Diageo’s June 30, 2011,
balance sheet using U.S. terminology and a standard U.S. format. (Note:
The other reserves item has no counterpart in the United States. For purposes
of this exercise, add the other reserves to “called up share capital.”)
