Note 5. Fixed Assets:
During the 3rd quarter of 2012 MEDITECH purchased land and an office building thereupon. MEDITECH carries all fixed assets on a cost basis and provides for depreciation in amounts estimated to allocate the costs thereof under the following estimated useful lives. Maintenance costs are expensed as incurred. Improvements are capitalized and depreciated over the asset’s useful life.
|Computer equipment||3-5 years|
|Furniture and fixtures||7-10 years|