Note 2 - Summary of significant accounting policies: Policy 10 - Property, equipment and machinery (Policies)

9 Months Ended

Sep. 30, 2017

Policies

Policy 10 - Property, equipment and machinery

Property, equipment and machinery

Property, equipment and machinery are recorded at cost. Depreciation is computed on the straight-line and declining balance methods 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.