Property and Equipment
|6 Months Ended|
Dec. 31, 2019
|Property, Plant and Equipment [Abstract]|
|Property and Equipment||
NOTE 11 - PROPERTY AND EQUIPMENT
Property and equipment consisted of the following:
For the three and six months ended December 31, 2019, depreciation expense totaled $484,662 and $950,113, respectively. Of these amounts, $269,183 and $532,247, respectively, are reflected in cost of revenues. For the three months ended December 31, 2018, depreciation expense totaled $533,837 and $1,097,965, respectively. Of these amounts, $340,058 and $691,954, respectively, are reflected in cost of revenues.
Following is a summary of fixed assets held under finance leases as of December 31, 2019 and June 30, 2019:
Finance lease term and discount rate were as follows:
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