Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Summary of significant accounting policies: Property and equipment (Policies)

v3.10.0.1
Note 2 - Summary of significant accounting policies: Property and equipment (Policies)
9 Months Ended
Sep. 30, 2018
Policies  
Property and equipment

Property and equipment

 

Property, equipment and machinery are recorded at cost. Depreciation is computed on the declining balance method over the estimated useful lives of various classes of property ranging from 3 to 7 years.

 

Expenditures for renewals and betterments are capitalized and maintenance and repairs are charged to expense. Upon retirement or sale, the cost of assets disposed, and the accumulated depreciation is removed from the accounts. The resulting gain or loss is credited or charged to income.