Property and Equipment

12 Months Ended

Oct. 31, 2013

Property, Plant and Equipment [Abstract]

NOTE 3 – PROPERTY AND EQUIPMENT

Property and Equipment consisted of the following:

	October 31,			October 31,
	2013			2012

Machinery	$	49,788		$	27,121
Vehicles		223,191			243,192
Office equipment		31,143			30,500
Leasehold improvements		4,247			4,247
Land		5,500			5,500
		313,869			310,560
Less accumulated depreciation		(290,472	)		(254,892	)
Total	$	23,397		$	55,668

For the years ended October 31, 2013 and 2012, depreciation expense was $33,814 and $42,145, respectively. The Company recorded a gain on sale of vehicle and equipment of $22,800 during year ended October 31, 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.

+ References+ Details

Gold Hill Resources, Inc. 10-K