The financial statements of Eastern Platinum Limited (Eastplats) are presented in Appendix A at the end of

Question:

The of Eastern Platinum Limited (Eastplats) are presented in Appendix A at the end of this textbook.
Instructions
(a) What depreciation method is used by Eastplats for mining properties and for residential properties?
(b) What is the useful life of the company's mine houses and office buildings?
(c) As at December 31, 2010, what percentage of the cost of plant and equipment owned had been depreciated?
(d) Why would the company have mineral properties that were not being depleted?
(e) Using the statement of cash flows, determine if the company was able to pay for property, plant, and equipment expenditures with its net operating cash flows in 2009 and in 2010.
(f) Did the company have any asset retirement obligations at the end of 2010? Did the company use different terminology to describe this obligation?
(g) Did the company have any impairment losses in 2009 or 2010?
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...