Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Find a portion of the Property, Plant, and Equipment Footnote of Shell's 2021 Annual Report. Using the information provided in the note, please answer the

Find a portion of the Property, Plant, and Equipment Footnote of Shell's 2021 Annual Report. Using the information provided in the note, please answer the questions below. All numbers in the questions below and the footnote are presented in $ millions. Also, currency translation differences do not need to be included in your calculations.

  1. How much did Shell pay to purchase/develop Manufacturing, supply, and distribution assets in 2021? 
  2. Assume that Shell received a total of 1,200 in cash from selling Manufacturing, supply, and distribution assets and there are no asset retirements in 2021.
    • At the time of sale, what was the accumulated depreciation of the Manufacturing, supply, and distribution assets that were sold? 
    • At the time of sale, what was the original cost of the Manufacturing, supply, and distribution assets that were sold?
    • Calculate the total amount of gain or loss that the company recognized on these asset sales. 
    •  

 

9 - PROPERTY, PLANT AND EQUIPMENT 2021 Exploration and production Manufacturing, $ million Exploration and evaluation Production supply and distribution Other Total Additions Cost At January 1 [A] Sales, retirements and other movements [A] 14,484 1,216 298,882 107,876 32,402 453,644 8,942 7,917 3,644 21,719 (3,014) (20,005) (9,607) (455) (33,081) Currency translation differences (7) (1,916) (2,004) (1,586) (5,513) At December 31 12,679 285,903 104,182 34,005 436,769 Depreciation, depletion and amortisation, including impairments At January 1 [A] 5,258 167,711 58,242 12,733 243,944 Charge for the year 1,311 15,800 7,112 1,770 25,993 Sales, retirements and other movements [A] (999) (14,590) (8,624) (240) (24,453) Currency translation differences 10 (1,391) (1,599) (667) (3,647) At December 31 5,580 167,530 55,131 13,596 241,837 Carrying amount at December 31 7,099 118,373 49,051 20,409 194,932

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Art And Science Of Assurance Engagements

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan, Joanne C. Jones

15th Canadian Edition

0136692087, 9780136692089

More Books

Students also viewed these Economics questions