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PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2023

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,
​		2023			2022
​	​	​	​	​	​	​
Land and buildings	​	$	3,114,032	​	$	2,972,256
Building fixtures, facilities, and furniture	​	​	187,826	​	​	128,448
Leasehold improvement	​	​	21,143	​	​	—
Landscaping	​	​	22,039	​	​	—
Office Equipment and Fixtures	​	​	31,306	​	​	35,160
Software	​		—	​		17,413
Auto	​		41,361	​		39,033
Construction in progress	​	​	6,372	​	​	—
Total Assets	​		3,424,079	​		3,192,310
Less accumulated depreciation	​		(116,708)	​		(62,426)
Net Assets	​	$	3,307,371	​	$	3,129,884

​

For the years ended December 31, 2023, 2022, and 2021, depreciation expenses were $76,246, $36,243, and $24,910, respectively.

​

During the year ended December 31, 2023, the Group disposed of some office equipment, receiving cash of $1,384, with a net book value of $1,396, and realized a loss of $12. Consequently, asset costs of $5,949 and accumulated depreciation of $4,553 were removed from the Company’s accounting records.

During the year ended December 31, 2022, the Group disposed of certain assets, receiving cash of $30,607, with a net book value of $19,653, and realized a net gain of $10,954. Consequently, asset costs totaling $103,360 and accumulated depreciation of $83,707 were removed from the Company’s accounting records.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//360/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480321/958-360-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480321/958-360-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480321/958-360-50-7

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