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Statutory Reserve (Tables)

12 Months Ended

Jun. 30, 2024

Statutory Reserve [Abstract]

Schedule of Statutory Reserve

For the fiscal years ended June 30, 2024, 2023, and 2022, the Company provided statutory reserve as follows:

Balance - June 30, 2021		$	1,241,573
Appropriation to statutory reserve			257,796
Balance - June 30, 2022			1,499,369
Appropriation to statutory reserve			37,859
Balance - June 30, 2023			1,537,228
Appropriation to statutory reserve			1,215
Balance - June 30, 2024		$	1,538,443

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- References

No definition available.

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- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References

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-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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