How would you show a deposit on the 1120S balance sheet for a car that isn't in service yet? This is for a car. The client put down $100 to get in line. Since there is no service yet, I didn't want to list it as depreciable asset. I guess I could just list it as an other asset and put Deposit on details?
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It gets added to the total cost.
Yes-Other Asset, Deposit
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