6. Property, Plant and Equipment Disclosure
|12 Months Ended|
Sep. 30, 2016
|6. Property, Plant and Equipment Disclosure||
6. Property and Equipment
Property and equipment consist of the following as of September 30:
Assets to be disposed of are reported at the lower of the carrying amounts or fair values, less the estimated costs to sell or dispose. During fiscal years 2016 and 2015, the Company recorded a loss on the disposal of assets of $2,780 and $42,336, respectively. During December 2014, the Company sold all of its equipment leased to customers (see Note 3). Depreciation expense for fiscal years 2016 and 2015 was $50,661 and $56,321, respectively.
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.
Reference 1: http://www.xbrl.org/2003/role/presentationRef