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May Vang
May 24, 2009, 06:23 PM
Can deposits on machinary not yet received be classified as a plant asset?
morgaine300
May 24, 2009, 10:58 PM
Deposits aren't a plant asset. The machinery is. You can't record it until you actually have it, or have some kind of ownership of it. I would record the deposits in the current assets as a Deposit.