Note 2 - Significant Accounting Policies: Property and Equipment (Policies)

3 Months Ended

Jan. 03, 2021

Policies

Property and Equipment

Property and Equipment: Property and equipment are 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.

	January 3, 2021		September 27, 2020		Depreciable Lives
Land	$	6,389,470	$	6,389,470	not applicable
Mineral rights		276,000		276,000	25 years
Ground improvements		2,334,172		2,334,172	7-25 years
Buildings and structures		3,798,098		3,798,098	10-39 years
Animal shelters and habitats		2,098,947		2,098,947	10-39 years
Park animals		1,147,833		1,166,583	5-10 years
Equipment - concession and related		232,281		232,281	3-15 years
Equipment and vehicles - yard and field		556,168		556,168	3-15 years
Vehicles - buses and rental		237,075		237,075	3-5 years
Rides and entertainment		224,578		224,578	5-7 years
Furniture and fixtures		26,057		26,057	5-10 years
Projects in process		277,905		34,290
Property and equipment, cost		17,598,584		17,373,719
Less accumulated depreciation		(3,885,202)		(3,718,919)
Property and equipment, net	$	13,713,382	$	13,654,800

Depreciation expense for the three months ended January 3, 2021 and December 29, 2019 totaled $167,200 and $117,300, respectively.