FIXED ASSETS AND LEASEHOLD IMPROVEMENT

12 Months Ended

Aug. 31, 2020

Leases [Abstract]

FIXED ASSETS AND LEASEHOLD IMPROVEMENT

NOTE 5 – FIXED ASSETS AND LEASEHOLD IMPROVEMENT

The Company capitalized the renovation cost as leasehold improvement and the cost of furniture and appliances as fixed asset. Leasehold improvement relates to renovation and upgrade of an office and an offline display store. The leasehold improvement is depreciated over 3 years which equal the terms of the operating lease for renting an office. The furniture and appliances are depreciated over 7 and 5 years, respectively.

The total original cost was $167,278, including $146,304 for renovation of the office and the store and $20,974 office furniture and appliances. The accumulated depreciation was $65,525 and $12,631 at August 31, 2020 and August 31, 2019, respectively.

	August 31,			August 31,
	2020			2019
Appliances and furniture	$	20,974		$	20,974
Leasehold improvement		146,304			146,304
Total cost		167,278			167,278
Accumulated depreciation		(65,525	)		(12,631)
Property and equipment, net	$	101,753		$	154,647