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5) Value of Business Acquired, Instangible Assets and Goodwill: Schedule of Carrying Value of Intangible Asset (Tables)
12 Months Ended
Dec. 31, 2019
Tables/Schedules  
Schedule of Carrying Value of Intangible Asset

 

 

 

 

December 31

 

 

Useful Life

 

2019

 

2018

 

Intangible asset - customer lists

15 years

 

$         890,000

(1)

$      890,000

(1)

Intangible asset - trade name

15 years

 

$         610,000

(2)

$                -

 

Less accumulated amortization

 

 

           (98,222)

 

        (34,611)

 

Balance at end of year

 

 

$      1,401,778

 

$      855,389

 

                     

 

 

 

 

 

 

(1) See Note 20 regarding the acquisition of Beta Capital Corp.

 

(2) See Note 20 regarding the acquisition of Kilpatrick Life Insurance Company