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Property and Equipment | 3 Months Ended
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Sep. 30, 2019
Property, Plant and Equipment [Abstract] |
Property and Equipment | NOTE 11 - PROPERTY AND EQUIPMENT Property and equipment consisted of the following:
|  | As of |  |  | As of |
|  | September 30, 2019 |  |  | June 30, 2019 |
Office Furniture and Equipment |  | $ | 3,231,116 |  |  | $ | 3,125,382 |
Computer Equipment |  |  | 19,557,328 |  |  |  | 18,905,603 |
Assets Under Finance Leases |  |  | 1,669,388 |  |  |  | 1,720,490 |
Building |  |  | 6,247,424 |  |  |  | 6,021,939 |
Land |  |  | 1,619,290 |  |  |  | 1,559,111 |
Autos |  |  | 1,399,070 |  |  |  | 1,024,754 |
Improvements |  |  | 93,738 |  |  |  | 111,165 |
Subtotal |  |  | 33,817,354 |  |  |  | 32,468,444 |
Accumulated Depreciation |  |  | (21,338,513 | ) |  |  | (20,371,589 | )
Property and Equipment, Net |  | $ | 12,478,841 |  |  | $ | 12,096,855 |
For the three months ended September 30, 2019 and 2018, depreciation expense totaled $465,451 and $564,128, respectively. Of these amounts, $263,064 and $351,896, respectively, are reflected in cost of revenues. Following is a summary of fixed assets held under finance leases as of September 30, 2019 and June 30, 2019:
|  | As of |  |  | As of |
|  | September 30, 2019 |  |  | June 30, 2019 |
Computers and Other Equipment |  | $ | 317,296 |  |  | $ | 324,466 |
Furniture and Fixtures |  |  | 65,084 |  |  |  | 65,084 |
Vehicles |  |  | 1,287,008 |  |  |  | 1,330,940 |
Total |  |  | 1,669,388 |  |  |  | 1,720,490 |
Less: Accumulated Depreciation - Net |  |  | (567,780 | ) |  |  | (538,564 | )
|  | $ | 1,101,608 |  |  | $ | 1,181,926 |
Finance lease term and discount rate were as follows:
|  | As of |
|  | September 30, 2019 |
Weighted average remaining lease term - finance leases |  |  | 2.11 Years |
Weighted average discount rate - finance leases |  |  | 12.79 | %

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- References No definition available. + Details
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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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