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PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2022
PROPERTY AND EQUIPMENT  
NOTE 7 - PROPERTY AND EQUIPMENT

NOTE 7 – PROPERTY AND EQUIPMENT

 

As of March 31, 2022, property and equipment consists of the following:

 

March 31, 2022

 

 

Gross Carrying Amount

 

 

Accumulated Depreciation

 

 

Net Carrying Amount

 

 

Weighted Average Useful Life (Years)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment:

 

 

 

 

 

 

 

 

 

 

 

 

Office equipment

 

$150,915

 

 

$(35,837 )

 

$115,078

 

 

 

3

 

Leasehold improvement

 

 

991,848

 

 

 

-

 

 

 

991,849

 

 

 

5

 

Property and equipment, net

 

$1,142,763

 

 

$(35,837 )

 

$1,106,927

 

 

 

 

 

 

Depreciation expenses of office equipment were $12,793 and nil for the period ended March 31, 2022 and year 2021 respectively as the computer and office equipment were acquired on June 29, 2021.

 

Amortization expenses of leasehold improvement is $nil for the year ended March 31, 2022 as the new office renovation will be completed in April 2022.