L28
ActivePostage Meter
Flagged for review: Useful life not provided — required for uniform ASC 842-10-25-2(c) classification (deviation D4).
Lease terms
- Entity
- Beckenhauer Construction Leasing, LLC (BL)
- Lessor
- Quadient
- Asset class
- Office Equipment
- Asset category
- Unspecified
- Asset ID / serial
- L28
- Commencement
- Jul 25, 2023
- Lease end
- Sep 25, 2028
- Rent commencement
- Aug 23, 2023
- Payment timing
- Arrears · monthly
- Lease term
- 63 base periods
Measurement inputs
- Discount rate
- 4.475% annual (0.373% monthly)
- Rate basis
- Imported from ROU-01 workbook (template cell J24).
- Useful life
- Not provided
- Fair value
- Not provided
- Initial direct costs
- $0.00
- Prepayment
- $0.00
- Lease incentive
- $0.00
- Undiscounted payments
- $7,622.37
Classification — ASC 842-10-25-2
Recorded classification: (manual override — Classification imported from the ROU-01 workbook.)
The engine evaluation (indeterminate) differs from the recorded classification (operating).
✗
(a) Ownership transfers by end of term
Criterion not met (judgement).
✗
(b) Purchase option reasonably certain
Criterion not met (judgement).
?
(c) Lease term is a major part of useful life
Useful life of the underlying asset is required but not provided.
?
(d) PV of payments is substantially all of fair value
Fair value of the underlying asset is required but not provided.
✗
(e) Specialized asset with no alternative use
Criterion not met (judgement).
Lease status
Initial measurement — ASC 842-20-30
- PV of lease payments
- $6,781.98
- + Initial direct costs
- $0.00
- + Prepayment
- $0.00
- + Lease incentive
- $0.00
- = ROU asset
- $6,781.98
- Lease liability
- $6,781.98
Initial journal entry
Posted Aug 23, 2023
| Account | Memo | Debit | Credit |
|---|---|---|---|
| ROU Asset - Operating Leases | Recognize ROU asset at commencement | $6,781.98 | |
| Operating Lease Liability | Recognize lease liability | $6,781.98 | |
| In balance | $6,781.98 | $6,781.98 | |
Amortization schedule
Operating lease: single straight-line lease cost; ROU amortization is the residual.
| # | Date | Payment | Liability begin | Interest | Liability end | ROU begin | ROU amort. | ROU end | Lease expense | Note |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Aug 23, 2023 | $120.99 | $6,781.98 | $25.29 | $6,686.28 | $6,781.98 | $95.70 | $6,686.28 | $120.99 | |
| 2 | Sep 23, 2023 | $120.99 | $6,686.28 | $24.93 | $6,590.22 | $6,686.28 | $96.06 | $6,590.22 | $120.99 | |
| 3 | Oct 23, 2023 | $120.99 | $6,590.22 | $24.58 | $6,493.81 | $6,590.22 | $96.41 | $6,493.81 | $120.99 | |
| 4 | Nov 23, 2023 | $120.99 | $6,493.81 | $24.22 | $6,397.04 | $6,493.81 | $96.77 | $6,397.04 | $120.99 | |
| 5 | Dec 23, 2023 | $120.99 | $6,397.04 | $23.85 | $6,299.90 | $6,397.04 | $97.14 | $6,299.90 | $120.99 | |
| 6 | Jan 23, 2024 | $120.99 | $6,299.90 | $23.49 | $6,202.40 | $6,299.90 | $97.50 | $6,202.40 | $120.99 | |
| 7 | Feb 23, 2024 | $120.99 | $6,202.40 | $23.13 | $6,104.54 | $6,202.40 | $97.86 | $6,104.54 | $120.99 | |
| 8 | Mar 23, 2024 | $120.99 | $6,104.54 | $22.76 | $6,006.31 | $6,104.54 | $98.23 | $6,006.31 | $120.99 | |
| 9 | Apr 23, 2024 | $120.99 | $6,006.31 | $22.40 | $5,907.72 | $6,006.31 | $98.59 | $5,907.72 | $120.99 | |
| 10 | May 23, 2024 | $120.99 | $5,907.72 | $22.03 | $5,808.76 | $5,907.72 | $98.96 | $5,808.76 | $120.99 | |
| 11 | Jun 23, 2024 | $120.99 | $5,808.76 | $21.66 | $5,709.43 | $5,808.76 | $99.33 | $5,709.43 | $120.99 | |
| 12 | Jul 23, 2024 | $120.99 | $5,709.43 | $21.29 | $5,609.73 | $5,709.43 | $99.70 | $5,609.73 | $120.99 | |
| 13 | Aug 23, 2024 | $120.99 | $5,609.73 | $20.92 | $5,509.66 | $5,609.73 | $100.07 | $5,509.66 | $120.99 | |
| 14 | Sep 23, 2024 | $120.99 | $5,509.66 | $20.55 | $5,409.22 | $5,509.66 | $100.44 | $5,409.22 | $120.99 | |
| 15 | Oct 23, 2024 | $120.99 | $5,409.22 | $20.17 | $5,308.40 | $5,409.22 | $100.82 | $5,308.40 | $120.99 | |
| 16 | Nov 23, 2024 | $120.99 | $5,308.40 | $19.80 | $5,207.21 | $5,308.40 | $101.19 | $5,207.21 | $120.99 | |
| 17 | Dec 23, 2024 | $120.99 | $5,207.21 | $19.42 | $5,105.64 | $5,207.21 | $101.57 | $5,105.64 | $120.99 | |
| 18 | Jan 23, 2025 | $120.99 | $5,105.64 | $19.04 | $5,003.69 | $5,105.64 | $101.95 | $5,003.69 | $120.99 | |
| 19 | Feb 23, 2025 | $120.99 | $5,003.69 | $18.66 | $4,901.36 | $5,003.69 | $102.33 | $4,901.36 | $120.99 | |
| 20 | Mar 23, 2025 | $120.99 | $4,901.36 | $18.28 | $4,798.65 | $4,901.36 | $102.71 | $4,798.65 | $120.99 | |
| 21 | Apr 23, 2025 | $120.99 | $4,798.65 | $17.89 | $4,695.55 | $4,798.65 | $103.10 | $4,695.55 | $120.99 | |
| 22 | May 23, 2025 | $120.99 | $4,695.55 | $17.51 | $4,592.07 | $4,695.55 | $103.48 | $4,592.07 | $120.99 | |
| 23 | Jun 23, 2025 | $120.99 | $4,592.07 | $17.12 | $4,488.20 | $4,592.07 | $103.87 | $4,488.20 | $120.99 | |
| 24 | Jul 23, 2025 | $120.99 | $4,488.20 | $16.74 | $4,383.95 | $4,488.20 | $104.25 | $4,383.95 | $120.99 | |
| 25 | Aug 23, 2025 | $120.99 | $4,383.95 | $16.35 | $4,279.31 | $4,383.95 | $104.64 | $4,279.31 | $120.99 | |
| 26 | Sep 23, 2025 | $120.99 | $4,279.31 | $15.96 | $4,174.28 | $4,279.31 | $105.03 | $4,174.28 | $120.99 | |
| 27 | Oct 23, 2025 | $120.99 | $4,174.28 | $15.57 | $4,068.86 | $4,174.28 | $105.42 | $4,068.86 | $120.99 | |
| 28 | Nov 23, 2025 | $120.99 | $4,068.86 | $15.17 | $3,963.04 | $4,068.86 | $105.82 | $3,963.04 | $120.99 | |
| 29 | Dec 23, 2025 | $120.99 | $3,963.04 | $14.78 | $3,856.83 | $3,963.04 | $106.21 | $3,856.83 | $120.99 | |
| 30 | Jan 23, 2026 | $120.99 | $3,856.83 | $14.38 | $3,750.22 | $3,856.83 | $106.61 | $3,750.22 | $120.99 | |
| 31 | Feb 23, 2026 | $120.99 | $3,750.22 | $13.98 | $3,643.21 | $3,750.22 | $107.01 | $3,643.21 | $120.99 | |
| 32 | Mar 23, 2026 | $120.99 | $3,643.21 | $13.59 | $3,535.81 | $3,643.21 | $107.40 | $3,535.81 | $120.99 | |
| 33 | Apr 23, 2026 | $120.99 | $3,535.81 | $13.19 | $3,428.01 | $3,535.81 | $107.80 | $3,428.01 | $120.99 | |
| 34 | May 23, 2026 | $120.99 | $3,428.01 | $12.78 | $3,319.80 | $3,428.01 | $108.21 | $3,319.80 | $120.99 | |
| 35 | Jun 23, 2026 | $120.99 | $3,319.80 | $12.38 | $3,211.19 | $3,319.80 | $108.61 | $3,211.19 | $120.99 | |
| 36 | Jul 23, 2026 | $120.99 | $3,211.19 | $11.97 | $3,102.17 | $3,211.19 | $109.02 | $3,102.17 | $120.99 | |
| 37 | Aug 23, 2026 | $120.99 | $3,102.17 | $11.57 | $2,992.75 | $3,102.17 | $109.42 | $2,992.75 | $120.99 | |
| 38 | Sep 23, 2026 | $120.99 | $2,992.75 | $11.16 | $2,882.92 | $2,992.75 | $109.83 | $2,882.92 | $120.99 | |
| 39 | Oct 23, 2026 | $120.99 | $2,882.92 | $10.75 | $2,772.68 | $2,882.92 | $110.24 | $2,772.68 | $120.99 | |
| 40 | Nov 23, 2026 | $120.99 | $2,772.68 | $10.34 | $2,662.03 | $2,772.68 | $110.65 | $2,662.03 | $120.99 | |
| 41 | Dec 23, 2026 | $120.99 | $2,662.03 | $9.93 | $2,550.97 | $2,662.03 | $111.06 | $2,550.97 | $120.99 | |
| 42 | Jan 23, 2027 | $120.99 | $2,550.97 | $9.51 | $2,439.49 | $2,550.97 | $111.48 | $2,439.49 | $120.99 | |
| 43 | Feb 23, 2027 | $120.99 | $2,439.49 | $9.10 | $2,327.60 | $2,439.49 | $111.89 | $2,327.60 | $120.99 | |
| 44 | Mar 23, 2027 | $120.99 | $2,327.60 | $8.68 | $2,215.29 | $2,327.60 | $112.31 | $2,215.29 | $120.99 | |
| 45 | Apr 23, 2027 | $120.99 | $2,215.29 | $8.26 | $2,102.56 | $2,215.29 | $112.73 | $2,102.56 | $120.99 | |
| 46 | May 23, 2027 | $120.99 | $2,102.56 | $7.84 | $1,989.41 | $2,102.56 | $113.15 | $1,989.41 | $120.99 | |
| 47 | Jun 23, 2027 | $120.99 | $1,989.41 | $7.42 | $1,875.84 | $1,989.41 | $113.57 | $1,875.84 | $120.99 | |
| 48 | Jul 23, 2027 | $120.99 | $1,875.84 | $7.00 | $1,761.85 | $1,875.84 | $113.99 | $1,761.85 | $120.99 | |
| 49 | Aug 23, 2027 | $120.99 | $1,761.85 | $6.57 | $1,647.43 | $1,761.85 | $114.42 | $1,647.43 | $120.99 | |
| 50 | Sep 23, 2027 | $120.99 | $1,647.43 | $6.14 | $1,532.58 | $1,647.43 | $114.85 | $1,532.58 | $120.99 | |
| 51 | Oct 23, 2027 | $120.99 | $1,532.58 | $5.72 | $1,417.31 | $1,532.58 | $115.27 | $1,417.31 | $120.99 | |
| 52 | Nov 23, 2027 | $120.99 | $1,417.31 | $5.29 | $1,301.61 | $1,417.31 | $115.70 | $1,301.61 | $120.99 | |
| 53 | Dec 23, 2027 | $120.99 | $1,301.61 | $4.85 | $1,185.47 | $1,301.61 | $116.14 | $1,185.47 | $120.99 | |
| 54 | Jan 23, 2028 | $120.99 | $1,185.47 | $4.42 | $1,068.90 | $1,185.47 | $116.57 | $1,068.90 | $120.99 | |
| 55 | Feb 23, 2028 | $120.99 | $1,068.90 | $3.99 | $951.90 | $1,068.90 | $117.00 | $951.90 | $120.99 | |
| 56 | Mar 23, 2028 | $120.99 | $951.90 | $3.55 | $834.46 | $951.90 | $117.44 | $834.46 | $120.99 | |
| 57 | Apr 23, 2028 | $120.99 | $834.46 | $3.11 | $716.58 | $834.46 | $117.88 | $716.58 | $120.99 | |
| 58 | May 23, 2028 | $120.99 | $716.58 | $2.67 | $598.26 | $716.58 | $118.32 | $598.26 | $120.99 | |
| 59 | Jun 23, 2028 | $120.99 | $598.26 | $2.23 | $479.50 | $598.26 | $118.76 | $479.50 | $120.99 | |
| 60 | Jul 23, 2028 | $120.99 | $479.50 | $1.79 | $360.30 | $479.50 | $119.20 | $360.30 | $120.99 | |
| 61 | Aug 23, 2028 | $120.99 | $360.30 | $1.34 | $240.65 | $360.30 | $119.65 | $240.65 | $120.99 | |
| 62 | Sep 23, 2028 | $120.99 | $240.65 | $0.90 | $120.56 | $240.65 | $120.09 | $120.56 | $120.99 | |
| 63 | Oct 23, 2028 | $120.99 | $120.56 | $0.43 | $0.00 | $120.56 | $120.56 | $0.00 | $120.99 | |
| Totals | $7,622.37 | $840.39 | $6,781.98 | $0.00 | $7,622.37 | |||||
Recurring journal entry — period 1
Representative entry; one entry per period follows the schedule. Use “Export journal entries” for the full set.
| Account | Memo | Debit | Credit |
|---|---|---|---|
| Operating Lease Expense | Straight-line lease cost | $120.99 | |
| Operating Lease Liability | Lease liability reduction | $95.70 | |
| Cash / Accounts Payable | Lease payment | $120.99 | |
| ROU Asset - Operating Leases | ROU amortization | $95.70 | |
| In balance | $216.69 | $216.69 | |