ACCRUED LIABILITIES |
9 Months Ended |
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May 31, 2019 | |
| ACCRUED LIABILITIES [Abstract] | |
| ACCRUED LIABILITIES |
NOTE 8 – ACCRUED LIABILITIES
At May 31, 2019, the Company had accrued liabilities of $2,627,100, of which $65,900 was for estimated property taxes, $34,600 was for professional fees, and $2,526,600 was for operating payables, of which $2,191,600 is payable to the CAB for the development of Sky Ranch. These costs are also included in Inventories or expensed through Land development construction costs of revenue.
At August 31, 2018, the Company had accrued liabilities of $849,500, of which $400,000 was for accrued compensation, $29,000 was for estimated property taxes, $59,000 was for professional fees and the remaining $361,500 was related to operating payables.
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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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