Subjects>Law & Government>United States Government

Is rented building fixed asset

TaraDheeraj ∙

Lvl 1

∙ 15y ago

Updated: 11/9/2022

A rented building is not an asset.

The lease hold improvements may be a depreciating asset (depending on the definitions in your area)

Wiki User

∙ 15y ago

What else can I help you with?

Is building an asset?

It is depend on the nature of transaction, if building is acquire on rent then building is not an asset if building is purchased then it is fixed asset.

Depreciation on Fixed Asset is a operating expenses or not?

Depreciation on Fixed Asset (Furniture, Building) are considered as Non-Current Assets

Is the cost of a building a fixed asset?

Capital Expenditure.

What Types of fixed asset?

1)Tangible fixed asset 2)Intangible fixed asset 1)Tangible fixed asset 2)Intangible fixed asset

Is a desk a fixed asset or a current asset?

A fixed asset.

Is the building the business owns a fixed asset?

Yes, the building that a business owns is considered a fixed asset. Fixed assets are long-term tangible assets that are used in the operations of a business and are not intended for sale. They typically include property, plant, and equipment, and the building's value is recorded on the balance sheet and depreciated over time.

Is one of the fixed asset accounts from Office Equipment Land Delivery Equipment or Building will not have a related contra asset account?

LAND

Is good is a fictitious asset or fixed asset?

fixed

Is Premises a tangible fixed assets?

Yes premises is a tangible fixed asset because you can physically ensure the existence of premises like building etc and intangible assets are those assets which cannot be check physically.

Is car a fixed asset or current asset?

fixed assest

Is fixed asset a current asset?

fixed deposit is an assets

Fixed deposit is fixed asset or current assest?

A fixed deposit in the name of a firm is not a fixed asset.

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