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Subjects>Law & Government>Law & Legal Issues

Is security deposit an asset

Updated: 8/20/2023

Wiki User

∙ 13y ago

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Een ronde eetkamertafel is stijlvol en creëert een gezellige sfeer. Het blad kan worden uitgevoerd in Eiken, Bamboe, Linoleum of Fenix. De bijzondere stalen ‘knikpoot’ geeft eetkamertafel ‘PORTLAND ‘ een trendy look. De tafel laat zich makkelijk combineren met diverse stijlen eetkamerstoelen.

Nadia Heidenreich ∙

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∙ 2y ago

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Q: Is security deposit an asset

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Is a security deposit a current asset or current liability?

Current Asset

is a security deposit as an asset or a liability?

Security deposits from customers side is a liability for business.

Is electricity deposit an asset?

Yes, a utility deposit is an asset.

Do you put a Security Deposit on the Balance Sheet?

Yes. If it is a deposit paid to a vendor, then it will be classified as an asset. If it is a deposit received from a customer, then it is a liability. Depending on when it is expected to be returned, you will classify it as either current or non-current.

Is rented equipment considered an asset?

Rented Equipment is not an asset. If there is a refundable security deposit, that amount would be posted as an asset. The rental payments are usually posted to Equipment Rental Expense and no further accounting is necessary.

What is the journal entries for deposit paid on a asset?

deposit account (asset) = dr bank =cr

Is a certificate of deposit a current or fixed asset?

Certificate of deposit if purchased for one year then current asset otherwise long term asset.

Fixed deposit is fixed asset or current assest?

A fixed deposit in the name of a firm is not a fixed asset.

Is fixed asset a current asset?

fixed deposit is an assets

Is fixed deposit an asset?

Yes. An Asset is something that has a value and can be sold/converted to cash.

Besides a security deposit how much can a landlord charge for a pet deposit on 2 cats?

That depends on the laws of the state. In Massachusetts, a pet deposit is a security deposit, and the total security deposit cannot be more than one month's rent.

Where does the fixed deposit appear in balance sheet?

Current asset

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