3. Property and Equipment
|9 Months Ended|
Sep. 30, 2018
|Property, Plant and Equipment [Abstract]|
|Property and Equipment||
Note 3 – Property and Equipment
At September 30, 2018 and December 31, 2017, property and equipment consisted of the following:
In September, the Company purchased a warehouse and office in Ontario, California for its own use. The previous owner of the building engaged in a short term lease agreement to rent partial portion of the warehouse during the transition. The tenant paid $18,000 as security deposit, shown as other payable in current liability.
Depreciation expense for the nine months ended September 30, 2018 and 2017 amounted to $1,635 and $914, respectively.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef