
Concept Introduction:
Assets: These are resources which the company owns and will generate future economic benefits. The assets are categorized into fixed asset which will help in generating revenues for long period of time and examples is plant and machinery, building , equipments etc and current assets are resources which will be converted into cash within one year examples are
Liabilities: These are amounts which the company has to pay to external stakeholders like creditors for credit purchases, banks for loans taken
Owner equity: The amount contributed by owner to the company by way capital infusion , the purchase of equity shares by shareholders , the net profits are part of owners equity
Requirement a
To identify: The amount of assets, liabilities and equity of Samsung for the year ended December 31, 2013 in million of Korean Won
Requirement b:
To prepare and verify the

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Chapter 1 Solutions
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