Land is part of Samsung’s PPE. Draw the appropriate T-account(s) (i.e. you decid
ID: 2551719 • Letter: L
Question
Land is part of Samsung’s PPE. Draw the appropriate T-account(s) (i.e. you decide whether you need only one T-account or more than one T-account) to show how the net book value or carrying amount of Land as at December 31, 2016 is calculated. In the T-account(s), write down the description for all items and amounts for the year 2016.
Samsung Electronics Co., Ltd. and Subsidiaries NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 13. Property, Plant and Equipment (A) Changes in property, plant and equipment for the years ended December 31,2016 and 2015, are as follows 2016 (In millions of Korean Buildings andMachinery Construction In Progress Structures and Equipment Other Total won W7,848,432 W22,453,296 W43,077,879W10,970,052 W2,127,451 W86,477,110 7,848,432 32,850,110147,315,09610,970,052 6,303,834205,287,524 Balance as at January 1 Acquisition cost Accumulated depreciation 10,396,814) (104,237,217 12,769,230 4,492 -(1,631,089) (16,814,751) (80,552) (370,574) (20,131) 263,538 and impairment 4,176,383) (118,810,414) Acquisitions and capital 974,275 25,494,368 7,003 (866,680) (19,312,520) (201,956) (1,731) (375,110) 37,7353,482,228 8,230,900 expenditures Business combinations Depreciation Disposals/Scrap 240 2,271 (28,331) (26,384) (2,805) (66,684) airment Reclassification of assets (11,922) 112,502 (45,156) 27,749 (84,869) 530,985 7.869.679 24,375.826 38.302.055 18,773.986 2,151,495 91,473,041 7,869,679 36,474,462 155,285,37818,773,986 6,769,149225,172,654 - (4,617,654) (133,699,613 held-for-sale Other2 Balance as at December 31 (7,660) (419,541 11,843 Acquisition cost Accumulated depreciation and impairment - (12,098,636 116,983,323 The capitalized borrowing costs are 17,644 million and the interest rate used to calculate the borrowing costs eligible for capitalization is 0.95%. 2 Other includes effects of changes in foreign currency exchange rates and effects of the offset related to government assistanceExplanation / Answer
Answer:
Debit Land A/c Credit
01 Jan 2016 Balance Brought down 7,848,432 Bank A/c ( Disposal) 28,331
Bank A/c( Acquisition Cost) 20,091
Interest A/c 17,644
Foreign Currency Translation Reserve A/c 11,843 31 Dec 2016 Balance Carried down 7,869,679
7,898,010 7,898,010
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