Fixed Assets |
9 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||
| Notes to Financial Statements | ||||||||||
| Note 8 - Fixed Assets | In September 2014 the Company purchased for $10,500 land and a small office located at 1 Varpuiela, Kakciems, Latvia, LV-2135. The building is valued at $7,500 and the land at $3,000. The Company utilizes the space as a primary office.
Fixed assets are stated at cost. The Company utilizes straight-line depreciation over the estimated useful life of the asset.
The Company utilizes straight-line depreciation over the estimated useful life of the asset.
During the three months ended June 30, 2016 the Company recorded $125 in depreciation expense for the building. No depreciation was recorded for office equipment as the Company had not yet purchased any. |