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    May Vang's Avatar
    May Vang Posts: 1, Reputation: 1
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    #1

    May 24, 2009, 06:23 PM
    Deposits on machinary not yet received.
    Can deposits on machinary not yet received be classified as a plant asset?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    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.
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