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Note 2: Property & Equipment
3 Months Ended
Sep. 30, 2012
Note 2: Property & Equipment:  
Note 2: Property & Equipment

Note 2: Property & Equipment        

             

Property and equipment are carried at cost. Major expenditures and those which substantially increase useful lives are capitalized. Maintenance, repairs and minor renewals are charged to operations when incurred. When property and equipment is sold or otherwise disposed of, the asset account and related accumulated depreciation account are relieved, and any gain or loss is included in operations. Once placed in service, depreciable assets are depreciated over their estimated useful lives using both accelerated and straight-line methods.

             

Depreciation expenses totaled $225 and $300 for the nine month periods ended September 30, 2012 and  September 30, 2011, respectively.