Focus Universal Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Property and Equipment

Property and Equipment

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 6 – Property and Equipment

At June 30, 2021 and December 31, 2020, property and equipment consisted of the following:

Schedule of property and equipment
	June 30, 2021			December 31, 2020
Warehouse	$	3,789,773		$	3,789,773
Land		731,515			731,515
Building Improvement		238,666			238,666
Furniture and fixture		27,631			27,631
Equipment		48,378			48,378
Software		1,995			1,995
Total cost		4,837,958			4,837,958
Less accumulated depreciation		(426,320	)		(345,448	)
Property and equipment, net	$	4,411,638		$	4,492,510

Depreciation expense for the six months ended June 30, 2021 and 2020 amounted to $80,872 and $81,125, respectively.

The Company purchased a warehouse in Ontario, California in September 2018 and leased an unused portion to a third party. The tenant paid $12,335 as a security deposit, shown as other liability in non-current liabilities.