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Is leased equipment considered fixed asset on balance sheet

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Reference no: EM132494083

Mobile gym facility business and all equipment and facilities are leased. This includes the following:

  1. Custom RV's (the gym facility)
  2. Gym equipment (all weights, cycles, etc.)

Question 1: Where does this fall in my initial balance sheet?

Question 2: Is leased equipment considered a fixed asset on balance sheet?

Question 3: If I only have leased equipment and employees, is it possible for my business to have no fixed assets to report?

Reference no: EM132494083

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