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Subject Author Date
Accounting Treatment of License Fee Rick 01-22-2007
Posted by Rick on January 22, 2007, 11:56 pm
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 Is the local license fee paid by a restaurant considered an asset or an
expense?



Posted by Paul Thomas, CPA on January 23, 2007, 8:13 am
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> Is the local license fee paid by a restaurant
> considered an asset or an expense?



If it's an annual fee, it's an expense.

If it's a one time fee, or a fee for a number of years, and it's
transferable (ie: they can sell it to someone else) then it would be an
asset to be depreciated over it's life.




--
Paul Thomas, CPA
paulthomascpapc@bellsouth.net



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