NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Property and equipment (Policies)
|6 Months Ended|
Jun. 30, 2019
|Property and equipment||
Property and equipment
Property and equipment are carried at cost less accumulated depreciation. Depreciation is computed using straight-line method over the estimated useful life. New assets and expenditures that extend the useful life of property or equipment are capitalized and depreciated. Expenditures for ordinary repairs and maintenance are charged to operations as incurred. For the six months ended June 30, 2019 and 2018 the Company recorded $1,678 of depreciation expense for each of these periods. For the three months ended June 30, 2019 and 2018 the Company recorded $839 of depreciation expenses for each of these periods.
Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef