Plant and Equipment

12 Months Ended

Dec. 31, 2021

Plant and Equipment Disclosure [Text Block]

NOTE 6 – PLANT AND EQUIPMENT

Plant and equipment consisted of the following as of December 31, 2021 and 2020:

	December 31, 2021			December 31, 2020
Building	$	1,431,968		$	213,297
Operating equipment		677,518			106,561
Vehicle		20,590			19,002
Office equipment		105,847			28,078
		2,235,923			366,938
Less: Accumulated depreciation		(136,239	)		(77,074	)
		2,099,684			289,864
Construction in progress		94,892			614,170
	$	2,194,576		$	904,034

As of December 31, 2021 and 2020, depreciation expense amounted to $66,724 and 28,510, respectively. Depreciation is not taken during the period of construction or equipment installation. Upon completion of the installation of manufacturing equipment or any construction in progress, construction in progress balances will be classified to their respective property and equipment category.

The construction in progress of $94,892 and $614,170 as of December 31, 2021 and 2020 represents the investment in building a processing plant and warehouse.

Kenongwo Group US, Inc. 10-K/A