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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.
Is fixed asset a current asset?
fixed deposit is an assets
Can you record an asset if only a deposit is made?
Yes, you can record an asset if only a deposit is made, but it typically depends on the nature of the deposit. If the deposit represents a commitment to acquire an asset, such as a down payment on property or equipment, it can be recorded as a prepaid asset or deposit asset until the full transaction is completed. This ensures that the financial statements accurately reflect the company’s rights to the future benefits associated with that asset. However, the specifics can vary based on accounting policies and standards.
Is a security deposit a current asset or current liability?
Current Asset
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 a security deposit a current asset or current liability?
Current Asset
Is fixed deposit an asset?
Yes. An Asset is something that has a value and can be sold/converted to cash.
Where does the fixed deposit appear in balance sheet?
Current asset
Is a certificate of deposit debited or credited?
Certificate of deposit is a current asset account and that's why it has a debit balance as a normal balance.
How is nuclear power an asset to the nation?
It provides nearly 20 percent of your electricity. Isn't that an asset?
Is electricity a liability or asset?
Electricity expense is an expense account while accrued electricity payable is a liability account
is a security deposit as an asset or a liability?
Security deposits from customers side is a liability for business.
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.
