Annual report pursuant to Section 13 and 15(d)

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

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Note 2 - Summary of significant accounting policies: Property and equipment (Policies)
12 Months Ended
Dec. 31, 2018
Policies  
Property and equipment

Property and equipment

 

Property and equipment is recorded at cost less accumulated depreciation. Depreciation is computed on the straight-line and declining balance methods over the estimated useful lives of various classes of property. The estimated lives of the property and equipment are generally as follows: computer equipment, three to five years; furniture and equipment, seven years; and vehicles and trailers, five years.

 

Expenditures for renewals and betterments are capitalized, and maintenance and repairs are charged to expense. Gains and losses from the retirement or disposition of property and equipment are included in operations in the period incurred.