The deposit for a booth at a future trade show is an asset until the trade show occurs.
Once the trade show occurs the deposit amount should be moved from the balance sheet asset account to an income statement expense account.
The deposit for a booth at a future trade show is an asset until the trade show occurs.
Once the trade show occurs the deposit amount should be moved from the balance sheet asset account to an income statement expense account.
Join PRO or PRO Plus and Get Lifetime Access to Our Premium Materials
Read all 2,866 reviewsFeatures
PRO
PRO Plus
For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.
Read 2,866 Testimonials
