FIXED ASSETS AND LEASEHOLD IMPROVEMENT

9 Months Ended

May 31, 2021

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 $172,278, including $146,304 for renovation of the office and the store and $25,974 office furniture and appliances. The accumulated depreciation was $105,273 and $65,525 as of May 31, 2021 and August 31, 2020, respectively.

	May 31, 2021			August 31, 2020
Leasehold improvement	$	146,304		$	146,304
Appliances and furniture		25,974			20,974
Total cost		172,278			167,278
Accumulated depreciation		(105,273	)		(65,525)
Property and equipment, net	$	67,005		$	101,753