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Topic: advance deposit for a lease (

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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?

CanadianCPA
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Joined: 19 May 2010
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Posts: 554

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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