Property and Equipment
|9 Months Ended|
Mar. 31, 2020
|Property, Plant and Equipment [Abstract]|
|Property and Equipment||
NOTE 11 - PROPERTY AND EQUIPMENT
Property and equipment consisted of the following:
For the three and nine months ended March 31, 2020, depreciation expense totaled $479,350 and $1,429,463, respectively. Of these amounts, $273,315 and $805,562, respectively, are reflected in cost of revenues. For the three and nine months ended March 31, 2019, depreciation expense totaled $606,641 and $1,704,606, respectively. Of these amounts, $354,199 and $1,046,153, respectively, are reflected in cost of revenues.
Following is a summary of fixed assets held under finance leases as of March 31, 2020 and June 30, 2019:
Finance lease term and discount rate were as follows:
The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef