General form of registration statement for all companies including face-amount certificate companies

PROPERTY AND EQUIPMENT

v2.4.0.8
PROPERTY AND EQUIPMENT
 9 Months Ended 12 Months Ended
Sep. 30, 2013
Dec. 31, 2012
Notes to Financial Statements    
Note 7. PROPERTY AND EQUIPMENT

Property and equipment at cost, less accumulated depreciation, at September 30, 2013 consisted of the following:

 

    September 30,     December 31,  
    2013     2012  
Furniture   $ 31,539     $ 31,539  
Equipment     26,022       26,022  
Leasehold improvements     10,400       10,400  
Subtotal     67,961       67,961  
Less accumulated depreciation     (43,522 )     (34,311 )
Total   $ 24,439     $ 33,650  

 

Depreciation expense related to property and equipment for the nine months ended September 30, 2013 was $9,211 and for the nine months ended September 30, 2012 was $7,903.

Property and equipment at cost, less accumulated depreciation, at December 31, 2012 consisted of the following:

 

    December 31,     December 31,  
    2012     2011  
Furniture   $ 31,539     $ 34,421  
 Equipment     26,022       32,769  
 Leasehold improvements     10,400       10,400  
 Subtotal     67,961       77,590  
Less accumulated depreciation     (34,311 )     (22,771 )
Total   $ 33,650     $ 54,819  

 

Depreciation expense related to property and equipment for the years ended December 31, 2012 and 2011 was $14,088 and $15,794, respectively.