L35
financeActive1FTFW1L54SKD70235 - Ford F-150 XL 4x4 SuperCrew Cab 6.5 ft. box 157 in. WB
Lease terms
- Entity
- Beckenhauer Construction Leasing, LLC (BL)
- Lessor
- Enterprise
- Asset class
- Vehicle
- Asset category
- Vehicle
- Asset ID / serial
- #N/A · 1FTFW1L54SKD70235
- Commencement
- May 2, 2025
- Lease end
- Apr 2, 2029
- Rent commencement
- May 2, 2025
- Payment timing
- Arrears · monthly
- Lease term
- 48 base periods
Measurement inputs
- Discount rate
- 3.87% annual (0.323% monthly)
- Rate basis
- Imported from ROU-01 workbook (template cell J24).
- Useful life
- 60 months
- Fair value
- $50,840.57
- Initial direct costs
- $0.00
- Prepayment
- $0.00
- Lease incentive
- $0.00
- Undiscounted payments
- $55,098.33
Classification — ASC 842-10-25-2
Recorded classification: finance (manual override — Classification imported from the ROU-01 workbook.)
✗
(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
Lease term 48mo / useful life 60mo = 80% (guideline 75%).
✓
(d) PV of payments is substantially all of fair value
PV 51121.7 / fair value 50840.57 = 100.6% (guideline 90%).
✗
(e) Specialized asset with no alternative use
Criterion not met (judgement).
Lease status
Initial measurement — ASC 842-20-30
- PV of lease payments
- $51,121.70
- + Initial direct costs
- $0.00
- + Prepayment
- $0.00
- + Lease incentive
- $0.00
- = ROU asset
- $51,121.70
- Lease liability
- $51,121.70
Initial journal entry
Posted May 2, 2025
| Account | Memo | Debit | Credit |
|---|---|---|---|
| ROU Asset - Finance Leases | Recognize ROU asset at commencement | $51,121.70 | |
| Finance Lease Liability | Recognize lease liability | $51,121.70 | |
| In balance | $51,121.70 | $51,121.70 | |
Amortization schedule
Finance lease: interest on the liability + straight-line amortization of the ROU asset.
| # | Date | Payment | Liability begin | Interest | Liability end | ROU begin | ROU amort. | ROU end | Total expense | Note |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | May 2, 2025 | $3,224.90 | $51,121.70 | $164.87 | $48,061.67 | $51,121.70 | $1,065.04 | $50,056.66 | $1,229.91 | |
| 2 | Jun 2, 2025 | $1,103.69 | $48,061.67 | $155.00 | $47,112.98 | $50,056.66 | $1,065.04 | $48,991.62 | $1,220.04 | |
| 3 | Jul 2, 2025 | $1,103.69 | $47,112.98 | $151.94 | $46,161.23 | $48,991.62 | $1,065.04 | $47,926.58 | $1,216.98 | |
| 4 | Aug 2, 2025 | $1,103.69 | $46,161.23 | $148.87 | $45,206.41 | $47,926.58 | $1,065.04 | $46,861.54 | $1,213.91 | |
| 5 | Sep 2, 2025 | $1,103.69 | $45,206.41 | $145.79 | $44,248.51 | $46,861.54 | $1,065.04 | $45,796.50 | $1,210.83 | |
| 6 | Oct 2, 2025 | $1,103.69 | $44,248.51 | $142.70 | $43,287.52 | $45,796.50 | $1,065.03 | $44,731.47 | $1,207.73 | |
| 7 | Nov 2, 2025 | $1,103.69 | $43,287.52 | $139.60 | $42,323.43 | $44,731.47 | $1,065.04 | $43,666.43 | $1,204.64 | |
| 8 | Dec 2, 2025 | $1,103.69 | $42,323.43 | $136.49 | $41,356.23 | $43,666.43 | $1,065.03 | $42,601.40 | $1,201.52 | |
| 9 | Jan 2, 2026 | $1,103.69 | $41,356.23 | $133.37 | $40,385.91 | $42,601.40 | $1,065.04 | $41,536.36 | $1,198.41 | |
| 10 | Feb 2, 2026 | $1,103.69 | $40,385.91 | $130.24 | $39,412.46 | $41,536.36 | $1,065.03 | $40,471.33 | $1,195.27 | |
| 11 | Mar 2, 2026 | $1,103.69 | $39,412.46 | $127.11 | $38,435.88 | $40,471.33 | $1,065.04 | $39,406.29 | $1,192.15 | |
| 12 | Apr 2, 2026 | $1,103.69 | $38,435.88 | $123.96 | $37,456.15 | $39,406.29 | $1,065.03 | $38,341.26 | $1,188.99 | |
| 13 | May 2, 2026 | $1,103.69 | $37,456.15 | $120.80 | $36,473.26 | $38,341.26 | $1,065.04 | $37,276.22 | $1,185.84 | |
| 14 | Jun 2, 2026 | $1,103.69 | $36,473.26 | $117.63 | $35,487.20 | $37,276.22 | $1,065.03 | $36,211.19 | $1,182.66 | |
| 15 | Jul 2, 2026 | $1,103.69 | $35,487.20 | $114.45 | $34,497.96 | $36,211.19 | $1,065.04 | $35,146.15 | $1,179.49 | |
| 16 | Aug 2, 2026 | $1,103.69 | $34,497.96 | $111.26 | $33,505.53 | $35,146.15 | $1,065.03 | $34,081.12 | $1,176.29 | |
| 17 | Sep 2, 2026 | $1,103.69 | $33,505.53 | $108.06 | $32,509.90 | $34,081.12 | $1,065.04 | $33,016.08 | $1,173.10 | |
| 18 | Oct 2, 2026 | $1,103.69 | $32,509.90 | $104.84 | $31,511.05 | $33,016.08 | $1,065.03 | $31,951.05 | $1,169.87 | |
| 19 | Nov 2, 2026 | $1,103.69 | $31,511.05 | $101.62 | $30,508.98 | $31,951.05 | $1,065.04 | $30,886.01 | $1,166.66 | |
| 20 | Dec 2, 2026 | $1,103.69 | $30,508.98 | $98.39 | $29,503.68 | $30,886.01 | $1,065.03 | $29,820.98 | $1,163.42 | |
| 21 | Jan 2, 2027 | $1,103.69 | $29,503.68 | $95.15 | $28,495.14 | $29,820.98 | $1,065.04 | $28,755.94 | $1,160.19 | |
| 22 | Feb 2, 2027 | $1,103.69 | $28,495.14 | $91.90 | $27,483.35 | $28,755.94 | $1,065.03 | $27,690.91 | $1,156.93 | |
| 23 | Mar 2, 2027 | $1,103.69 | $27,483.35 | $88.63 | $26,468.29 | $27,690.91 | $1,065.04 | $26,625.87 | $1,153.67 | |
| 24 | Apr 2, 2027 | $1,103.69 | $26,468.29 | $85.36 | $25,449.96 | $26,625.87 | $1,065.03 | $25,560.84 | $1,150.39 | |
| 25 | May 2, 2027 | $1,103.69 | $25,449.96 | $82.08 | $24,428.35 | $25,560.84 | $1,065.04 | $24,495.80 | $1,147.12 | |
| 26 | Jun 2, 2027 | $1,103.69 | $24,428.35 | $78.78 | $23,403.44 | $24,495.80 | $1,065.03 | $23,430.77 | $1,143.81 | |
| 27 | Jul 2, 2027 | $1,103.69 | $23,403.44 | $75.48 | $22,375.23 | $23,430.77 | $1,065.04 | $22,365.73 | $1,140.52 | |
| 28 | Aug 2, 2027 | $1,103.69 | $22,375.23 | $72.16 | $21,343.70 | $22,365.73 | $1,065.03 | $21,300.70 | $1,137.19 | |
| 29 | Sep 2, 2027 | $1,103.69 | $21,343.70 | $68.83 | $20,308.84 | $21,300.70 | $1,065.04 | $20,235.66 | $1,133.87 | |
| 30 | Oct 2, 2027 | $1,103.69 | $20,308.84 | $65.50 | $19,270.65 | $20,235.66 | $1,065.03 | $19,170.63 | $1,130.53 | |
| 31 | Nov 2, 2027 | $1,103.69 | $19,270.65 | $62.15 | $18,229.11 | $19,170.63 | $1,065.04 | $18,105.59 | $1,127.19 | |
| 32 | Dec 2, 2027 | $1,103.69 | $18,229.11 | $58.79 | $17,184.21 | $18,105.59 | $1,065.03 | $17,040.56 | $1,123.82 | |
| 33 | Jan 2, 2028 | $1,103.69 | $17,184.21 | $55.42 | $16,135.94 | $17,040.56 | $1,065.04 | $15,975.52 | $1,120.46 | |
| 34 | Feb 2, 2028 | $1,103.69 | $16,135.94 | $52.04 | $15,084.29 | $15,975.52 | $1,065.03 | $14,910.49 | $1,117.07 | |
| 35 | Mar 2, 2028 | $1,103.69 | $15,084.29 | $48.65 | $14,029.25 | $14,910.49 | $1,065.04 | $13,845.45 | $1,113.69 | |
| 36 | Apr 2, 2028 | $1,103.69 | $14,029.25 | $45.24 | $12,970.80 | $13,845.45 | $1,065.03 | $12,780.42 | $1,110.27 | |
| 37 | May 2, 2028 | $1,103.69 | $12,970.80 | $41.83 | $11,908.94 | $12,780.42 | $1,065.04 | $11,715.38 | $1,106.87 | |
| 38 | Jun 2, 2028 | $1,103.69 | $11,908.94 | $38.41 | $10,843.66 | $11,715.38 | $1,065.03 | $10,650.35 | $1,103.44 | |
| 39 | Jul 2, 2028 | $1,103.69 | $10,843.66 | $34.97 | $9,774.94 | $10,650.35 | $1,065.04 | $9,585.31 | $1,100.01 | |
| 40 | Aug 2, 2028 | $1,103.69 | $9,774.94 | $31.52 | $8,702.77 | $9,585.31 | $1,065.03 | $8,520.28 | $1,096.55 | |
| 41 | Sep 2, 2028 | $1,103.69 | $8,702.77 | $28.07 | $7,627.15 | $8,520.28 | $1,065.04 | $7,455.24 | $1,093.11 | |
| 42 | Oct 2, 2028 | $1,103.69 | $7,627.15 | $24.60 | $6,548.06 | $7,455.24 | $1,065.03 | $6,390.21 | $1,089.63 | |
| 43 | Nov 2, 2028 | $1,103.69 | $6,548.06 | $21.12 | $5,465.49 | $6,390.21 | $1,065.04 | $5,325.17 | $1,086.16 | |
| 44 | Dec 2, 2028 | $1,103.69 | $5,465.49 | $17.63 | $4,379.43 | $5,325.17 | $1,065.03 | $4,260.14 | $1,082.66 | |
| 45 | Jan 2, 2029 | $1,103.69 | $4,379.43 | $14.12 | $3,289.86 | $4,260.14 | $1,065.04 | $3,195.10 | $1,079.16 | |
| 46 | Feb 2, 2029 | $1,103.69 | $3,289.86 | $10.61 | $2,196.78 | $3,195.10 | $1,065.03 | $2,130.07 | $1,075.64 | |
| 47 | Mar 2, 2029 | $1,103.69 | $2,196.78 | $7.08 | $1,100.17 | $2,130.07 | $1,065.04 | $1,065.03 | $1,072.12 | |
| 48 | Apr 2, 2029 | $1,103.69 | $1,100.17 | $3.52 | $0.00 | $1,065.03 | $1,065.03 | $0.00 | $1,068.55 | |
| Totals | $55,098.33 | $3,976.63 | $51,121.70 | $0.00 | $55,098.33 | |||||
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 |
|---|---|---|---|
| Interest Expense | Interest accretion | $164.87 | |
| Finance Lease Liability | Interest accretion | $164.87 | |
| Finance Lease Liability | Lease payment | $3,224.90 | |
| Cash / Accounts Payable | Lease payment | $3,224.90 | |
| Amortization of ROU Asset | ROU amortization | $1,065.04 | |
| Accumulated Amortization - Finance ROU | ROU amortization | $1,065.04 | |
| In balance | $4,454.81 | $4,454.81 | |