2.99 See Answer

Question: Refer to the financial statements for Samsung

Refer to the financial statements for Samsung in Appendix A. How much were its cash payments for treasury stock purchases for the year ended December 31, 2013? Samsung’s financial statements from Appendix A:
Refer to the financial statements for Samsung in Appendix A. How much were its cash payments for treasury stock purchases for the year ended December 31, 2013?

Samsung’s financial statements from Appendix A:


Refer to the financial statements for Samsung in Appendix A. How much were its cash payments for treasury stock purchases for the year ended December 31, 2013?

Samsung’s financial statements from Appendix A:


Refer to the financial statements for Samsung in Appendix A. How much were its cash payments for treasury stock purchases for the year ended December 31, 2013?

Samsung’s financial statements from Appendix A:


Refer to the financial statements for Samsung in Appendix A. How much were its cash payments for treasury stock purchases for the year ended December 31, 2013?

Samsung’s financial statements from Appendix A:


Refer to the financial statements for Samsung in Appendix A. How much were its cash payments for treasury stock purchases for the year ended December 31, 2013?

Samsung’s financial statements from Appendix A:


Refer to the financial statements for Samsung in Appendix A. How much were its cash payments for treasury stock purchases for the year ended December 31, 2013?

Samsung’s financial statements from Appendix A:


Refer to the financial statements for Samsung in Appendix A. How much were its cash payments for treasury stock purchases for the year ended December 31, 2013?

Samsung’s financial statements from Appendix A:


Refer to the financial statements for Samsung in Appendix A. How much were its cash payments for treasury stock purchases for the year ended December 31, 2013?

Samsung’s financial statements from Appendix A:





Transcribed Image Text:

Samsung Electronics Co., Ltd. and its subsidiaries CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (In millions of Korean won) December 31, 2013 December 31, 2012 KRW KRW Assets Current assets Cash and cash equivalents Short-term financial instruments 16,284,780 36,722,702 1,488,527 27,875,934 18,791,460 17,397,937 1,258,874 26,674,596 Available-for-sale financial assets Trade and other receivables Advances 1,928,188 2,472,950 19,134,868 2,135,589 1,674,428 2,262,234 Prepaid expenses Inventories 17,747,413 1,462,075 Other current assets Assets held for sale 2,716,733 Total current assets 110,760,271 87,269,017 Non-current assets Available-for-sale financial assets 6,238,380 5,229,175 Associates and joint ventures Property, plant and equipment Intangible assets Long-term prepaid expenses 6,422,292 75,496,388 3,980,600 3,465,783 4,621,780 8,785,489 68,484,743 3,729,705 3,515,479 2,516,080 Deferred income tax assets Other non-curent assets 3,089,524 1,541,882 Total assets 214,075,018 181,071,570 Liabilities and Equity Current liabilities Trade and other payables 17,633,705 16,889,350 Short-term borrowings 8,443,752 6,438,517 1,706,313 1,176,046 11,344,530 Advances received Withholdings Accrued expenses Income tax payable Current portion of long-term borrowings and debentures 1,517,672 966,374 9,495, 156 3,222,934 3,386,018 2,425,831 6,736,476 999,010 5,054,853 343,951 Provisions Other current liabilities 467,973 Total current liabilities 51,315,409 46,933,052 Non-current Iliabilities Long-term trade and other payables 1,053,756 1,165,881 debentures 1,311,068 1,829,374 3,623,028 1,729,939 3,429,467 Long-term borowings 985,117 Net defined benefit liabilities 1,854,902 6,012,371 Deferred income tax liabilities Provisions 460,924 408,529 472,094 Other non-curent liabilities 1,065,461 Total liabilities 64,059,008 59,591,364 Equity attributable to owners of the parent Preferred stock 119,467 119,467 Common stock 778,047 Share premium Retained eamings Other components of equity 4,403,893 148,600,282 (9,459,073) 778,047 4,403,893 119,985,689 (8,193,044) Non-controlling interests 5,573,394 4,386, 154 Total equity 150,016,010 121,480,206 Total liabilities and equity 214,075,018 181,071,570 Samsung Electronics Co., Ltd. and its subsidiaries CONSOLIDATED STATEMENTS OF INCOME (In millions of Korean won) For the year ended December 31, 2013 2012 KRW KRW Revenue 228,692,667 201,103,613 Cost of sales 137,696,309 126,651,931 Gross profit Selling and administrative expenses Operating profit 90,996,358 74,451,682 54,211,345 45,402,344 36,785,013 29,049,338 Other non-operating income 2,429,551 1,552,989 Other non-operating expense 1,614,048 1,576,025 Share of profit of associates and joint ventures 504,063 986,611 Finance income 8,014,672 7,836,554 Finance costs 7,754,972 7,934,450 Profit before income tax 38,364,279 29,915,017 Income tax expense 7,889,515 6,069,732 Profit for the year 30,474,764 23,845,285 Profit attributable to owners of the parent 29,821,215 23,185,375 Profit attributable to non-controlling interests 653,549 659,910 Eamings per share for profit attributable to owners of the parent (in Korean Won) -Basic 197,841 154,020 -Diluted 197,800 153,950 Samsung Electronics Co., Ltd. and its subsidiaries CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions of Korean won) For the year ended December 31, 2013 2012 KRW KRW Profit for the year 30,474,764 23,845,285 Other comprehensive income Items not to be reclassifled subsequently to profit or loss: Remeasurement of net defined benefit liabilities, net of tax (213,113) (504, 120) Items to be reclassified subsequently to profit or loss: Changes in value of available-for-sale financial assets, net of tax 186,480 962, 184 Share of other comprehensive income (loss) of associates and joint ventures, net of tax 20,756 (350,491) Foreign currency translation, net of tax (1,000,961) (1,824,653) Other comprehensive loss for the year, net of tax Total comprehensive income for the year Comprehensive income attributable to: (1,006,838) (1,717,080) 29,467,926 22,128,205 Owners of the parent 28,837,590 21,499,343 Non-controlling interests 630,336 628,862 Samsung Electronics Co., Ltd. and its subsidiaries CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY Equity attributable components to owners of Noncontrolling the parent Other Retained earnings Preferred Сommon Share (In millions of Korean won) stock stock premium of equity interests Total Balance at January 1, 2012 Profit for the year 119,467 778,047 4,403,893 97,622,872 (5,833,896) 97,090,383 4,223,247 101,313,630 23,185,375 23,185,375 659,910 23,845,285 Changes in value of available-for-sake financial assets, net of tax 960,688 960,688 1,496 962,184 Share of other comprehensive los of associates and joint ventures, net of tax (350,491) (350,491) (350,491) Foreign currency translation, net of tax (1,789,877) (1,789,877) (34,776) (1,824,653) Remezsurement of net defined benefit liabilities, net of tax (506,351) (506,351) 2,231 (504,120) Total comprehensive income (loss) 23,185,375 (1,686,031) 21,499,344 628,861 22,128,205 Dividends (827,501) (827,501) (373,632) (1,201,133) Capital transaction under common control (1,089,835) (1,089,835) (104,395) (1,194,230) Changes in consolidated entities 12,844 12,844 Disposal of treasury stock 455,377 455,377 455,377 Stock option activities (33,071) (33,071) (33,071) Others 4,943 (5,588) (645) (771) (1,416) Total transactions with owners (822,558) (673,117) (1,495,675) (8,193,044) 117,094,052 (465,954) (1,961,629) Balance at December 31, 2012 119,467 778,047 4,403,893 119,985,689 4,386,154 121,480,206 Profit for the year 29,821,215 29,821,215 653,549 30,474,764 Changes in value of available-for-sake financial ssets, net of tax 187,477 187,477 (997) 186,480 Share of other comprebensive income (loss) of associates and joint ventures, net of tax 20,949 20,949 (193) 20,756 Foreign currency translation, net of tax (986,691) (986,691) (14,270) (1,000,961) Remessurement of net defined benefit liabilities, net of tax (205,360) (205,360) (7,753) (213,113) Total comprehensive income (loss) 29,821,215 (983,625) 28,837,590 630,336 29,467,926 Dividends (1,206,622) (1,206,622) (42,155) (1,248,777) Capital transaction under common control (312,959) (312,959) 600,042 287,083 Changes in consolidated entities (918) (918) Disposal of treasury stock 41,817 41,817 41,817 Stock option activities (11,999) k11.999) (11,999) Others 737 737 (65) 672 Total transactions with owners (1,206,622) (282,404) (1,489,026) 556,904 (932,122) Balance at December 31, 2013 119,467 778,047 4,403,893 148,600,282 (9,459,073) 144,442,616 5,573,394 150,016,010 |||||E Samsung Electronics Co., Ltd. and its subsidiaries CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions of Korean won) For the year ended December 31, 2013 2012 KRW KRW Cash flows from operating activities Profit for the year 30,474,764 23,845,285 Adjustments 23,804,832 22,759,559 Changes in operating assets and liabilities (1,313,245) (5,777,949) Cash flows from operating activities 52,966,351 40,826,895 Interest received 1,034,074 789,397 Interest paid (434,857) (576,379) Dividend received 592,217 1,112,940 Income tax paid (7,450,345) (4,180,044) Net cash generated from operating activities 46,707,440 37,972,809 Cash flows from investing activities Net increase in short-tem financial instruments (19,391,643) (5,965,611) Net decrease (increase) in short-term available-for-sale financial assets 33,663 (589,072) Proceeds from disposal of long-tem available-for-sale financial assets 1,691,463 106,208 Acquisition of long-term available for-sale financial assets (1,531,356) (870,249) Proceeds from disposal of associates and joint ventures 240 41,091 Acquisition of associates and joint ventures (181,307) (279,022) Disposal of property and equipment 377,445 644,062 Purchases of property and equipment (23,157,587) (22,965,271) Disposal of intangible assets 4,562 61,497 Purchases of intangible assets Cash outflows from business combination (934,743) (650,884) (167,155) (464,279) Others (1,490,601) (390,024) Net cash used in investing activities Cash flows from financing activities (44,747,019) (31,321,554) Net repayment of short-term borrowings (1,861,536) (800,579) Disposal of treasury stock 34,390 88,473 Proceeds from long-term borrowings and debentures 26,672 1,862,256 Repayment of long-term borrowings and debentures Payment of dividends. (1,368,436) (522,899) (1,249,672) (1,265, 137) Net increase (decrease) in noncontrolling interests 281,551 (1,200, 134) Others (26,488) Net cash used in financing activities (4,137,031) (1,864,508) Effect of exchange rate changes on cash and cash equivalents (330,070) (687,048) Net increase (decrease) in cash and cash equivalents (2,506,680) 4,099,699 Cash and cash equi valents Beginning of the year End of the year 18,791,460 14,691,761 16,284,780 18,791,460



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> Identify the inventory costing method best described by each of the following separate statements. Assume a period of increasing costs. ______ 1. Yields a balance sheet inventory amount often markedly less than its replacement cost. ______ 2. Results in

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> After all partnership assets have been converted to cash and all liabilities paid, the remaining cash should equal the sum of the balances of the partners’ capital accounts. Why?

> Listed below are various transactions that a company incurred during the current year. Indicate the impact on total stockholders’ equity for each scenario. Specifically state whether stockholders’ equity would “Increase,” “Decrease,” or have “No Effect”

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> The following legal claims exist for Huprey Co. Identify the accounting treatment for each claim as either (a) a liability that is recorded or (b) an item described in notes to its financial statements. 1. Huprey (defendant) estimates that a pending law

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> For each item below indicate whether the statement describes a multiple-step income statement or a single-step income statement. a. Multiple-step income statement b. Single-step income statement 1. Shows detailed computations of net sales and other cost

> Enter the letter for each term in the blank space beside the definition that it most closely matches. A. Sales discount B. Credit period C. Discount period D. FOB destination E. FOB shipping point F. Gross profit I. Cash discount G. Merchandise inven

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> If a partnership contract does not state the period of time the partnership is to exist, when does the partnership end?

> Refer to Samsung’s 2013 statement of cash flows in Appendix A. List its cash flows from operating activities, investing activities, and financing activities. Samsung’s Statement of Cash Flow from Appendix A: Sams

> Under what circumstances are long-term investments in debt securities reported at cost and adjusted for amortization of any difference between cost and maturity value?

> On a balance sheet, what valuation must be reported for debt securities classified as available-for-sale?

> If a company purchases its only long-term investments in available-for-sale debt securities this period and their fair value is below cost at the balance sheet date, what entry is required to recognize this unrealized loss?

> If a short-term investment in available-for-sale securities costs $10,000 and is sold for $12,000, how should the difference between these two amounts be recorded?

> On a balance sheet, what valuation must be reported for short-term investments in trading securities?

> Refer to the income statement of Samsung in Appendix A. How can you tell that it uses the consolidated method of accounting? Income Statement of Samsung from Appendix A: Samsung Electronics Co, Ltd. and its subsidiaries CONSOLIDATED STATEMENTS OF

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> What are two major challenges in accounting for international operations?

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> Under what two conditions should investments be classified as current assets?

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> What is the main difference between a bond and a share of stock?

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> Refer to Samsung’s recent balance sheet in Appendix A. What current liabilities related to income taxes are on its balance sheet? Explain the meaning of each income tax account identified. Samsung’s Balance Sheet from Appendix A: / /

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> Why do laws place limits on treasury stock purchases?

> How does the purchase of treasury stock affect the purchaser’s assets and total equity?

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> Assume a partner withdraws from a partnership and receives assets of greater value than the book value of his equity. Should the remaining partners share the resulting reduction in their equities in the ratio of their relative capital balances or accordi

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2.99

See Answer