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FAR STUDY GROUP
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Subject Topic: advance deposit for a lease (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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danula
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Joined: 04 Jul 2010
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Posted: 06 Jul 2010 at 21:24 | IP Logged  

 how do we clasify on BS the advance deposit (refundable deposit) on the lease?
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CanadianCPA
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Posted: 06 Jul 2010 at 21:37 | IP Logged  

If its refundable, then its a liability to the lessor until they refund it.

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Tajik4CPA
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Posted: 07 Jul 2010 at 10:52 | IP Logged  

Receivable to the lessee

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Becker 2009 and Gleim 2010, Wiley 13.0
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