Yes, a utility deposit is an asset.
deposit account (asset) = dr bank =cr
Certificate of deposit if purchased for one year then current asset otherwise long term asset.
fixed deposit is an assets
Current Asset
Certificate of deposit is a current asset account and that's why it has a debit balance as a normal balance.
deposit account (asset) = dr bank =cr
Certificate of deposit if purchased for one year then current asset otherwise long term asset.
A fixed deposit in the name of a firm is not a fixed asset.
fixed deposit is an assets
Current Asset
Yes. An Asset is something that has a value and can be sold/converted to cash.
Current asset
Certificate of deposit is a current asset account and that's why it has a debit balance as a normal balance.
It provides nearly 20 percent of your electricity. Isn't that an asset?
Electricity expense is an expense account while accrued electricity payable is a liability account
Security deposits from customers side is a liability for business.
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.