The financial statements of Samsung are presented in Appendix A at the end of this textbook. The

Question:

The financial statements of Samsung are presented in Appendix A at the end of this textbook. The complete annual report, including the notes to the financial statements, is available in the Investor Relations section of the company’s website, www.samsung.com.

Instructions
Answer the questions below using the statement of financial position and the notes to consolidated financial statements section.
(a) What were Samsung’s total current assets at December 31, 2010, and December 31, 2009?
(b) Are assets that Samsung included under current assets listed in proper order? Explain.
(c) How are Samsung’s assets classified?
(d) What are “cash equivalents”?
(e) What were Samsung’s total current liabilities at December 31, 2010, and December 31, 2009?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...