L30
Active#30 -- 3 laptops
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
- Great American Financial
- Asset class
- Computer / IT
- Asset category
- Computer
- Asset ID / serial
- L30
- Commencement
- Oct 19, 2023
- Lease end
- Sep 19, 2027
- Rent commencement
- Oct 19, 2023
- Payment timing
- Arrears · monthly
- Lease term
- 48 base periods
Measurement inputs
- Discount rate
- 5.45% annual (0.454% 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
- $16,642.08
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
- $14,922.72
- + Initial direct costs
- $0.00
- + Prepayment
- $0.00
- + Lease incentive
- $0.00
- = ROU asset
- $14,922.72
- Lease liability
- $14,922.72
Initial journal entry
Posted Oct 19, 2023
| Account | Memo | Debit | Credit |
|---|---|---|---|
| ROU Asset - Operating Leases | Recognize ROU asset at commencement | $14,922.72 | |
| Operating Lease Liability | Recognize lease liability | $14,922.72 | |
| In balance | $14,922.72 | $14,922.72 | |
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 | Oct 19, 2023 | $346.71 | $14,922.72 | $67.77 | $14,643.78 | $14,922.72 | $278.94 | $14,643.78 | $346.71 | |
| 2 | Nov 19, 2023 | $346.71 | $14,643.78 | $66.51 | $14,363.58 | $14,643.78 | $280.20 | $14,363.58 | $346.71 | |
| 3 | Dec 19, 2023 | $346.71 | $14,363.58 | $65.23 | $14,082.10 | $14,363.58 | $281.48 | $14,082.10 | $346.71 | |
| 4 | Jan 19, 2024 | $346.71 | $14,082.10 | $63.96 | $13,799.35 | $14,082.10 | $282.75 | $13,799.35 | $346.71 | |
| 5 | Feb 19, 2024 | $346.71 | $13,799.35 | $62.67 | $13,515.31 | $13,799.35 | $284.04 | $13,515.31 | $346.71 | |
| 6 | Mar 19, 2024 | $346.71 | $13,515.31 | $61.38 | $13,229.98 | $13,515.31 | $285.33 | $13,229.98 | $346.71 | |
| 7 | Apr 19, 2024 | $346.71 | $13,229.98 | $60.09 | $12,943.36 | $13,229.98 | $286.62 | $12,943.36 | $346.71 | |
| 8 | May 19, 2024 | $346.71 | $12,943.36 | $58.78 | $12,655.43 | $12,943.36 | $287.93 | $12,655.43 | $346.71 | |
| 9 | Jun 19, 2024 | $346.71 | $12,655.43 | $57.48 | $12,366.20 | $12,655.43 | $289.23 | $12,366.20 | $346.71 | |
| 10 | Jul 19, 2024 | $346.71 | $12,366.20 | $56.16 | $12,075.65 | $12,366.20 | $290.55 | $12,075.65 | $346.71 | |
| 11 | Aug 19, 2024 | $346.71 | $12,075.65 | $54.84 | $11,783.78 | $12,075.65 | $291.87 | $11,783.78 | $346.71 | |
| 12 | Sep 19, 2024 | $346.71 | $11,783.78 | $53.52 | $11,490.59 | $11,783.78 | $293.19 | $11,490.59 | $346.71 | |
| 13 | Oct 19, 2024 | $346.71 | $11,490.59 | $52.19 | $11,196.07 | $11,490.59 | $294.52 | $11,196.07 | $346.71 | |
| 14 | Nov 19, 2024 | $346.71 | $11,196.07 | $50.85 | $10,900.21 | $11,196.07 | $295.86 | $10,900.21 | $346.71 | |
| 15 | Dec 19, 2024 | $346.71 | $10,900.21 | $49.51 | $10,603.01 | $10,900.21 | $297.20 | $10,603.01 | $346.71 | |
| 16 | Jan 19, 2025 | $346.71 | $10,603.01 | $48.16 | $10,304.46 | $10,603.01 | $298.55 | $10,304.46 | $346.71 | |
| 17 | Feb 19, 2025 | $346.71 | $10,304.46 | $46.80 | $10,004.55 | $10,304.46 | $299.91 | $10,004.55 | $346.71 | |
| 18 | Mar 19, 2025 | $346.71 | $10,004.55 | $45.44 | $9,703.28 | $10,004.55 | $301.27 | $9,703.28 | $346.71 | |
| 19 | Apr 19, 2025 | $346.71 | $9,703.28 | $44.07 | $9,400.64 | $9,703.28 | $302.64 | $9,400.64 | $346.71 | |
| 20 | May 19, 2025 | $346.71 | $9,400.64 | $42.69 | $9,096.62 | $9,400.64 | $304.02 | $9,096.62 | $346.71 | |
| 21 | Jun 19, 2025 | $346.71 | $9,096.62 | $41.31 | $8,791.22 | $9,096.62 | $305.40 | $8,791.22 | $346.71 | |
| 22 | Jul 19, 2025 | $346.71 | $8,791.22 | $39.93 | $8,484.44 | $8,791.22 | $306.78 | $8,484.44 | $346.71 | |
| 23 | Aug 19, 2025 | $346.71 | $8,484.44 | $38.53 | $8,176.26 | $8,484.44 | $308.18 | $8,176.26 | $346.71 | |
| 24 | Sep 19, 2025 | $346.71 | $8,176.26 | $37.13 | $7,866.68 | $8,176.26 | $309.58 | $7,866.68 | $346.71 | |
| 25 | Oct 19, 2025 | $346.71 | $7,866.68 | $35.73 | $7,555.70 | $7,866.68 | $310.98 | $7,555.70 | $346.71 | |
| 26 | Nov 19, 2025 | $346.71 | $7,555.70 | $34.32 | $7,243.31 | $7,555.70 | $312.39 | $7,243.31 | $346.71 | |
| 27 | Dec 19, 2025 | $346.71 | $7,243.31 | $32.90 | $6,929.50 | $7,243.31 | $313.81 | $6,929.50 | $346.71 | |
| 28 | Jan 19, 2026 | $346.71 | $6,929.50 | $31.47 | $6,614.26 | $6,929.50 | $315.24 | $6,614.26 | $346.71 | |
| 29 | Feb 19, 2026 | $346.71 | $6,614.26 | $30.04 | $6,297.59 | $6,614.26 | $316.67 | $6,297.59 | $346.71 | |
| 30 | Mar 19, 2026 | $346.71 | $6,297.59 | $28.60 | $5,979.48 | $6,297.59 | $318.11 | $5,979.48 | $346.71 | |
| 31 | Apr 19, 2026 | $346.71 | $5,979.48 | $27.16 | $5,659.93 | $5,979.48 | $319.55 | $5,659.93 | $346.71 | |
| 32 | May 19, 2026 | $346.71 | $5,659.93 | $25.71 | $5,338.93 | $5,659.93 | $321.00 | $5,338.93 | $346.71 | |
| 33 | Jun 19, 2026 | $346.71 | $5,338.93 | $24.25 | $5,016.47 | $5,338.93 | $322.46 | $5,016.47 | $346.71 | |
| 34 | Jul 19, 2026 | $346.71 | $5,016.47 | $22.78 | $4,692.54 | $5,016.47 | $323.93 | $4,692.54 | $346.71 | |
| 35 | Aug 19, 2026 | $346.71 | $4,692.54 | $21.31 | $4,367.14 | $4,692.54 | $325.40 | $4,367.14 | $346.71 | |
| 36 | Sep 19, 2026 | $346.71 | $4,367.14 | $19.83 | $4,040.26 | $4,367.14 | $326.88 | $4,040.26 | $346.71 | |
| 37 | Oct 19, 2026 | $346.71 | $4,040.26 | $18.35 | $3,711.90 | $4,040.26 | $328.36 | $3,711.90 | $346.71 | |
| 38 | Nov 19, 2026 | $346.71 | $3,711.90 | $16.86 | $3,382.05 | $3,711.90 | $329.85 | $3,382.05 | $346.71 | |
| 39 | Dec 19, 2026 | $346.71 | $3,382.05 | $15.36 | $3,050.70 | $3,382.05 | $331.35 | $3,050.70 | $346.71 | |
| 40 | Jan 19, 2027 | $346.71 | $3,050.70 | $13.86 | $2,717.85 | $3,050.70 | $332.85 | $2,717.85 | $346.71 | |
| 41 | Feb 19, 2027 | $346.71 | $2,717.85 | $12.34 | $2,383.48 | $2,717.85 | $334.37 | $2,383.48 | $346.71 | |
| 42 | Mar 19, 2027 | $346.71 | $2,383.48 | $10.82 | $2,047.59 | $2,383.48 | $335.89 | $2,047.59 | $346.71 | |
| 43 | Apr 19, 2027 | $346.71 | $2,047.59 | $9.30 | $1,710.18 | $2,047.59 | $337.41 | $1,710.18 | $346.71 | |
| 44 | May 19, 2027 | $346.71 | $1,710.18 | $7.77 | $1,371.24 | $1,710.18 | $338.94 | $1,371.24 | $346.71 | |
| 45 | Jun 19, 2027 | $346.71 | $1,371.24 | $6.23 | $1,030.76 | $1,371.24 | $340.48 | $1,030.76 | $346.71 | |
| 46 | Jul 19, 2027 | $346.71 | $1,030.76 | $4.68 | $688.73 | $1,030.76 | $342.03 | $688.73 | $346.71 | |
| 47 | Aug 19, 2027 | $346.71 | $688.73 | $3.13 | $345.15 | $688.73 | $343.58 | $345.15 | $346.71 | |
| 48 | Sep 19, 2027 | $346.71 | $345.15 | $1.56 | $0.00 | $345.15 | $345.15 | $0.00 | $346.71 | |
| Totals | $16,642.08 | $1,719.36 | $14,922.72 | $0.00 | $16,642.08 | |||||
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 | $346.71 | |
| Operating Lease Liability | Lease liability reduction | $278.94 | |
| Cash / Accounts Payable | Lease payment | $346.71 | |
| ROU Asset - Operating Leases | ROU amortization | $278.94 | |
| In balance | $625.65 | $625.65 | |