Property, Plant And Equipment, Net

6 Months Ended

Jun. 30, 2013

Property, Plant and Equipment, Net [Abstract]

NOTE 5 - ACCRUED EXPENSES AND OTHER PAYABLES

Accrued expenses and other payables consisted of the following:

	June 30, 2013 (Unaudited)		December 31, 2012
Accrued expenses	$	20,825,044	$	16,146,809
VAT and other PRC tax payable		160,421		134,483
Shop equipment and leasehold improvements payables		645,227		500,280
Amount due to a director - unsecured, interest free and no repayment date(1)		-		7,916,277
Deposit from vendors and employees		4,384,264		3,399,363

Total accrued expenses and other payables	$	26,014,956	$	28,097,212

(1)

The amount was used for the incorporation of QKL-LQ and was fully repaid in March 2013.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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