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January 22, 2010

Is the deposit for a booth at a future trade show an asset?

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.

Learn more about Accounting Principles.

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About the Author: Harold Averkamp (CPA) has worked as an accountant, consultant, and university accounting instructor for more than 25 years.

He is the author of the 2010 Master Accounting Download Package which has been praised for it's ability to simplify accounting in a way that anybody can understand.



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Comments

2 Responses to “Is the deposit for a booth at a future trade show an asset?”

  1. DM on January 23rd, 2010 10:53 pm

    It would be a kind of prepaid expense.

  2. GULAB on January 26th, 2010 11:35 pm

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