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.
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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.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the 游戏电竞线上外围APP v5.2 sole author of all the materials on AccountingCoach.com. Read more about the author.