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PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2019

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

NOTE 4 – PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following:

		December 31,			December 31,
		2019			2018
Office Equipment and Fixtures		$	71,258		$	50,224
Software			17,242			17,465
Auto			44,110			32,636
Total Assets			132,610			100,325
Less accumulated depreciation			(62,456)			(79,023)
Net Assets		$	70,154		$	21,302

The Company sold its used auto to a third party in January 2019 and received proceeds of $3,330. The cost of $32,497 and accumulated depreciation of $30,872 were derecognized from the balance sheet. The Company recognized a gain of $1,705 from the sale for the year ended December 31, 2019.

For the years ended December 31, 2019, 2018, and 2017, depreciation expense was $15,180,  $12,575, and $7,232, respectively.

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- References

No definition available.

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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

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