Is a deposit by cheque a asset for Owners equity?

A deposit by cheque is typically considered an asset for the business, specifically classified as cash or cash equivalents in the balance sheet. However, it does not directly affect owner's equity until the funds are earned or recognized as revenue. Owner's equity reflects the owners' interests in the assets after liabilities are deducted, so while the deposit increases assets, it does not immediately impact equity until related earnings are realized.