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PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2021
PROPERTY AND EQUIPMENT  
Property And Equipment

NOTE 7 – PROPERTY AND EQUIPMENT

 

As of December 31, 2021, property and equipment consists of the following:

 

December 31, 2021

 

 

Gross Carrying Amount

 

 

Accumulated Depreciation

 

 

Net Carrying Amount

 

 

Weighted Average Useful Life (Years)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment:

 

 

 

 

 

 

 

 

 

 

 

 

Office equipment

 

$150,915

 

 

$(23,353 )

 

$127,562

 

 

 

3

 

Leasehold improvement

 

 

267,791

 

 

 

-

 

 

 

267,791

 

 

 

5

 

Property and equipment, net

 

$418,706

 

 

$(23,353 )

 

$395,353

 

 

 

 

 

 

Depreciation expenses of office equipment were $23,353 and nil for the year ended December 31, 2021 and year ended December 31, 2020 respectively as the computer and office equipment were acquired on June 29, 2021.

 

Amortization expenses of leasehold improvement is $nil for the year ended December 31, 2021 as the new office renovation will be completed in April 2022.