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v3.19.3

Plant and equipment, net | 12 Months Ended
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Jun. 30, 2019
Plant and equipment, net |
Plant and equipment, net | Note 6 – Plant and equipment, net Plant and equipment consist of the following:
|  | June 30, 2019 |  | June 30, 2018
Buildings |  | $ | 3,950,375 |  | $ | 3,620,194
Automobile |  |  | 118,487 |  |  | 88,038
Electronic devices |  |  | 3,808,900 |  |  | 3,711,772
Office equipment |  |  | 34,105 |  |  | 35,363
Leasehold improvements |  |  | 762,772 |  |  | —
Subtotal |  |  | 8,674,639 |  |  | 7,455,367
Less: accumulated depreciation |  |  | (4,125,427) |  |  | (3,492,912)
Total |  | $ | 4,549,212 |  | $ | 3,962,455
Depreciation expense for the years ended June 30, 2019, 2018 and 2017 amounted to $677,387, $529,442 and $519,448, respectively. As of June 30, 2019, property recorded at RMB 12,268,800 (approximately $1.8 million) was pledged as collateral to secure a loan that a related party borrowed from a bank (see Note 9).

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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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