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ACCRUED LIABILITIES | 3 Months Ended
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Nov. 30, 2019
ACCRUED LIABILITIES [Abstract] |
ACCRUED LIABILITIES | NOTE 8 – ACCRUED LIABILITIES At November 30, 2019, the Company had accrued liabilities of $3,519,400, of which $64,300 was for current operating lease obligations, $98,100 was for estimated property taxes, $33,500 was for professional fees, and $3,323,500 was for operating payables, of which $2,654,700 is payable to the CAB for the development of Sky Ranch. These costs are also included in Inventories or expensed through Land development construction costs. At August 31, 2019, the Company had accrued liabilities of $3,428,400, of which $460,500 was for accrued compensation, $94,000 was for estimated property taxes, $70,000 was for professional fees and the remaining $2,803,900 was related to operating payables, of which $1,399,600 is payable to the CAB for the development of Sky Ranch. These costs were also included in Inventories or expensed through Land development construction costs.

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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