NOTE 2. SIGNIFICANT ACCOUNTING POLICIES: Property and Equipment (Policies)

9 Months Ended

Jul. 02, 2017

Policies

Property and Equipment

Property and Equipment: Property and equipment is stated at cost. Depreciation is computed on the straight-line method over the estimated useful lives of the assets, which range from three to thirty-nine years. A summary is included below.

		July 2, 2017		October 2, 2016	Depreciable Lives
Land	$	2,507,180	$	2,507,180	not applicable
Ground improvements		893,433		824,427	7 - 25 years
Buildings and structures		2,882,285		2,882,285	10 - 39 years
Animal shelters and habitats		1,270,224		1,219,023	10 - 39 years
Park animals		727,705		642,769	5 - 10 years
Equipment - concession and related		221,493		221,493	3 - 15 years
Equipment and vehicles - yard and field		545,381		512,445	3 - 15 years
Vehicles - buses and rental		209,626		186,932	3 - 5 years
Rides and entertainment		181,867		181,867	5 - 10 years
Furniture and fixtures		60,485		60,485	5 - 10 years
Projects in process		124,974		-
Property and equipment, cost		9,624,653		9,238,906
Less accumulated depreciation		(3,069,259)		(2,806,009)
Property and equipment, net	$	6,555,394	$	6,432,897