Site Gold Site Silver 2021

Property Rights 1,000,000,000.00 1,200,000,000.00 May 9 Deferred Explorati

License and Legal Fees 60,000,000.00 90,000,000.00
Submersible Pumps 560,000,000.00 450,000,000.00
Other Exploration Costs 350,000,000.00 280,000,000.00
Subsequent Intangible development Cost 1,100,000,000.00 - Deferred Explorati

2022
Dec 31 Mine Developmen

2023
Jan 1 Subsequent intang

Cash

July 1 Exploration Cost -

Dec 31 Mine and Mining P

Mine and Mining P

2024
Dec 31 Depletion Expense
Cost
Mine and Mining P
Total cost
Divided by estimat
Depletion rate
Multiply by actual
Depletion Expense

Depreciation Expe

Depreciation Expe
Deferred Exploration Cost - Silver 1,970,000,000.00
Cash
To record the capitalized expenditures of Site Gold

Deferred Exploration Cost - Silver 2,020,000,000.00

Cash
To record the capitalized expenditures of Site Silver

Mine Development Cost - Gold 1,970,000,000.00

Deferred Exploration Cost - Gold
To capitalized the amount of Deferred Exploration Cost
to Mine Development Cost of Site Gold

Subsequent intangible development cost - Gold 1,100,000,000.00

Cash
To record the subsequent intangible development cost of Site Gold

200,000,000.00
Subsequent intangible development cost - Gold
To record the revenue earned during commissioning period

Exploration Cost - Silver 2,020,000,000.00

Deferred Exploration Cost - Silver
To expense the amount of Deferred Exploration Cost
to Mine Development Cost of Site Silver

Mine and Mining Properties - Gold 900,000,000.00

Subsequent intangible development cost - Gold
To capitalized the amount of subsequent intangible development
cost net of any revenue earned during commissioning period

Mine and Mining Properties - Gold 44,770,000.00

Estimated restoration cost
To estimated liability for restoration cost

Depletion Expense - Gold -

Accumulated Depletion
 To record the depletion of Mine and Mining Properties

1,350,000,000.00
Mine and Mining Properties - Gold 944,770,000.00
Total cost 2,294,770,000.00
Divided by estimated output
Depletion rate 22%
Multiply by actual output
Depletion Expense - Gold

Depreciation Expense - Gold 140,000,000.00

Accumulated Depreciation
To record the depreciation of Submersible pumps of Site Gold

Depreciation Expense - Silver 112,500,000.00

Accumulated Depreciation
To record the depreciation of Submersible pumps of Site Silver
1,970,000,000.00

2,020,000,000.00

1,970,000,000.00

1,100,000,000.00

200,000,000.00

2,020,000,000.00

900,000,000.00

44,770,000.00

-
140,000,000.00

112,500,000.00
2021
May 9 Property Rights - Gold 1,000,000,000.00
Property Rights - Silver 1,200,000,000.00
Cash
To record the acquisition of Property Rights

Deferred Exploration Cost - Gold 620,000,000.00

Cash
To record the Deferred Exploration Cost for Site Gold

Deferred Exploration Cost - Silver 540,000,000.00

Cash
To record the Deferred Exploration Cost for Site Silver

2022
Dec 31 Exploration Costs - Gold 350,000,000.00
Exploration Costs - Silver 280,000,000.00
Cash
To record the acquisition of additional exploration cost

2023
July 1 Exploration Expense - Silver 2,020,000,000.00
Property Rights - Silver
Exploration Cost - Silver
Deferred Exploration Cost - Silver
To expense the amount of Acquisition and Exploration Cost
of Site Silver

1 Subsequent intangible development cost - Gold 900,000,000.00

Cash
To record the subsequent intangible development cost of Site Gold

Dec 31 Mine Development Costs - Gold 620,000,000.00

Deferred Exploration Costs - Gold
To capitalized the amounts of Deferred Exploration Costs to Mine
Development Costs of Site Gold

31 Mine and Mining Properties - Gold 900,000,000.00

Subsequent intangible development cost - Gold
To capitalized the amount of subsequent intangible development
cost net of any revenue earned during commissioning period

31 Mine and Mining Properties - Gold 44,770,000.00

Estimated restoration cost
To record the estimated liability for restoration cost

2024
Dec 31 Depletion Expense - Gold 631,400,000.00
Accumulated Depletion
To record the depletion of Mine and Mining Properties

Property Rights 1,000,000,000.00

Deferred Exploration Cost - Gold 620,000,000.00
Exploration Costs - Gold 350,000,000.00
Subsequent Intangible dev cost 900,000,000.00
Total cost 2,870,000,000.00
Divided by estimated output 631,400,000.00
Depletion rate 22%
Multiply by actual output
Depletion Expense - Gold

Depreciation Expense - Gold 140,000,000.00

Accumulated Depreciation
To record the depreciation of Submersible pumps of Site Gold

Depreciation Expense - Silver 112,500,000.00

Accumulated Depreciation
To record the depreciation of Submersible pumps of Site Silver
2,200,000,000.00

License and Pumps

620,000,000.00

License and Pumps

540,000,000.00

630,000,000.00

1,200,000,000.00
280,000,000.00
540,000,000.00

900,000,000.00

620,000,000.00

900,000,000.00

44,770,000.00 14,923,333.33
 631,400,000.00

13,045,454,545.45

140,000,000.00

112,500,000.00