Note 2 - Summary of Significant Accounting Policies	9 Months Ended
Sep. 30, 2022
Notes
Note 2 - Summary of Significant Accounting Policies	Note 2 – Summary of Significant Accounting Policies *Basis of Presentation* The Company’s financial statements have been prepared on the basis of accounting principles generally accepted in the United States of America (“GAAP”). *Cash and Cash Equivalents* The Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments with a maturity of three months or less to be cash and cash equivalents. *Use of Estimates* The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. *Loss per Common Share* Net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period. The calculation of diluted net loss per share gives effect to common stock equivalents; however, potential common shares are excluded if their effect is anti-dilutive. For the quarters ended September 30. 2022 and 2021 the Company had no potentially dilutive securities. The basic and diluted net loss per share in September 30, 2022 and 2021 was $0.00 and $0.00, respectively. The net loss for September 30, 2022 and 2021 was $(136,894) and $(42,738), respectively. For the quarters ended September 30, 2022 and 2021 the weighted average number of common shares outstanding, basic and diluted were 201,864,701 and 201,864,701, respectively. *Income Taxes* The Company accounts for its income taxes pursuant to FASB ASC Topic 740, Income Taxes by recognizing deferred tax assets and liabilities for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. SNOOGOO CORP. NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS Note 2 – Summary of Significant Accounting Polices (cont.) *Revenue Recognition* The Company recognizes revenue utilizing the five principles of ASC 606. They are: (1) Identify the contract with a customer; (2) Identify the Performance Obligation in the contract; (3) Determine the transaction price; (4) Allocate the transaction price; (5) Recognize Revenue. There was no revenue in the quarters ended September 30, 2022 or 2021. *Recent Accounting Pronouncements* The Company reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

Note 2 - Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2022

Note 2 - Summary of Significant Accounting Policies

Note 2 – Summary of Significant Accounting Policies

Basis of Presentation

The Company’s financial statements have been prepared on the basis of accounting principles generally accepted in the United States of America (“GAAP”).

Cash and Cash Equivalents

The Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments with a maturity of three months or less to be cash and cash equivalents.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Loss per Common Share

Net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period. The calculation of diluted net loss per share gives effect to common stock equivalents; however, potential common shares are excluded if their effect is anti-dilutive. For the quarters ended September 30. 2022 and 2021 the Company had no potentially dilutive securities. The basic and diluted net loss per share in September 30, 2022 and 2021 was $0.00 and $0.00, respectively. The net loss for September 30, 2022 and 2021 was $(136,894) and $(42,738), respectively. For the quarters ended September 30, 2022 and 2021 the weighted average number of common shares outstanding, basic and diluted were 201,864,701 and 201,864,701, respectively.

Income Taxes

The Company accounts for its income taxes pursuant to FASB ASC Topic 740, Income Taxes by recognizing deferred tax assets and liabilities for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date.

SNOOGOO CORP.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 2 – Summary of Significant Accounting Polices (cont.)

Revenue Recognition

The Company recognizes revenue utilizing the five principles of ASC 606. They are: (1) Identify the contract with a customer; (2) Identify the Performance Obligation in the contract; (3) Determine the transaction price; (4) Allocate the transaction price; (5) Recognize Revenue. There was no revenue in the quarters ended September 30, 2022 or 2021.

Recent Accounting Pronouncements

The Company reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.