L36
financeActive1FTEX2LP3SKD70579 - Ford F-150 STX 4x4 SuperCab 6.5 ft. box 145 in. WB
Lease terms
- Entity
- Beckenhauer Construction Leasing, LLC (BL)
- Lessor
- Enterprise
- Asset class
- Vehicle
- Asset category
- Vehicle
- Asset ID / serial
- #N/A · 1FTEX2LP3SKD70579
- 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
- $45,723.00
- Initial direct costs
- $0.00
- Prepayment
- $0.00
- Lease incentive
- $0.00
- Undiscounted payments
- $48,950.94
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 45421.36 / fair value 45723 = 99.3% (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
- $45,421.36
- + Initial direct costs
- $0.00
- + Prepayment
- $0.00
- + Lease incentive
- $0.00
- = ROU asset
- $45,421.36
- Lease liability
- $45,421.36
Initial journal entry
Posted May 2, 2025
| Account | Memo | Debit | Credit |
|---|---|---|---|
| ROU Asset - Finance Leases | Recognize ROU asset at commencement | $45,421.36 | |
| Finance Lease Liability | Recognize lease liability | $45,421.36 | |
| In balance | $45,421.36 | $45,421.36 | |
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 | $2,911.15 | $45,421.36 | $146.48 | $42,656.69 | $45,421.36 | $946.28 | $44,475.08 | $1,092.76 | |
| 2 | Jun 2, 2025 | $979.57 | $42,656.69 | $137.57 | $41,814.69 | $44,475.08 | $946.28 | $43,528.80 | $1,083.85 | |
| 3 | Jul 2, 2025 | $979.57 | $41,814.69 | $134.85 | $40,969.97 | $43,528.80 | $946.28 | $42,582.52 | $1,081.13 | |
| 4 | Aug 2, 2025 | $979.57 | $40,969.97 | $132.13 | $40,122.53 | $42,582.52 | $946.28 | $41,636.24 | $1,078.41 | |
| 5 | Sep 2, 2025 | $979.57 | $40,122.53 | $129.40 | $39,272.36 | $41,636.24 | $946.28 | $40,689.96 | $1,075.68 | |
| 6 | Oct 2, 2025 | $979.57 | $39,272.36 | $126.65 | $38,419.44 | $40,689.96 | $946.28 | $39,743.68 | $1,072.93 | |
| 7 | Nov 2, 2025 | $979.57 | $38,419.44 | $123.90 | $37,563.77 | $39,743.68 | $946.28 | $38,797.40 | $1,070.18 | |
| 8 | Dec 2, 2025 | $979.57 | $37,563.77 | $121.14 | $36,705.34 | $38,797.40 | $946.28 | $37,851.12 | $1,067.42 | |
| 9 | Jan 2, 2026 | $979.57 | $36,705.34 | $118.37 | $35,844.14 | $37,851.12 | $946.28 | $36,904.84 | $1,064.65 | |
| 10 | Feb 2, 2026 | $979.57 | $35,844.14 | $115.60 | $34,980.17 | $36,904.84 | $946.28 | $35,958.56 | $1,061.88 | |
| 11 | Mar 2, 2026 | $979.57 | $34,980.17 | $112.81 | $34,113.41 | $35,958.56 | $946.28 | $35,012.28 | $1,059.09 | |
| 12 | Apr 2, 2026 | $979.57 | $34,113.41 | $110.02 | $33,243.86 | $35,012.28 | $946.28 | $34,066.00 | $1,056.30 | |
| 13 | May 2, 2026 | $979.57 | $33,243.86 | $107.21 | $32,371.50 | $34,066.00 | $946.28 | $33,119.72 | $1,053.49 | |
| 14 | Jun 2, 2026 | $979.57 | $32,371.50 | $104.40 | $31,496.33 | $33,119.72 | $946.28 | $32,173.44 | $1,050.68 | |
| 15 | Jul 2, 2026 | $979.57 | $31,496.33 | $101.58 | $30,618.34 | $32,173.44 | $946.28 | $31,227.16 | $1,047.86 | |
| 16 | Aug 2, 2026 | $979.57 | $30,618.34 | $98.74 | $29,737.51 | $31,227.16 | $946.28 | $30,280.88 | $1,045.02 | |
| 17 | Sep 2, 2026 | $979.57 | $29,737.51 | $95.90 | $28,853.84 | $30,280.88 | $946.28 | $29,334.60 | $1,042.18 | |
| 18 | Oct 2, 2026 | $979.57 | $28,853.84 | $93.05 | $27,967.32 | $29,334.60 | $946.28 | $28,388.32 | $1,039.33 | |
| 19 | Nov 2, 2026 | $979.57 | $27,967.32 | $90.19 | $27,077.94 | $28,388.32 | $946.28 | $27,442.04 | $1,036.47 | |
| 20 | Dec 2, 2026 | $979.57 | $27,077.94 | $87.33 | $26,185.70 | $27,442.04 | $946.28 | $26,495.76 | $1,033.61 | |
| 21 | Jan 2, 2027 | $979.57 | $26,185.70 | $84.45 | $25,290.58 | $26,495.76 | $946.28 | $25,549.48 | $1,030.73 | |
| 22 | Feb 2, 2027 | $979.57 | $25,290.58 | $81.56 | $24,392.57 | $25,549.48 | $946.28 | $24,603.20 | $1,027.84 | |
| 23 | Mar 2, 2027 | $979.57 | $24,392.57 | $78.67 | $23,491.67 | $24,603.20 | $946.28 | $23,656.92 | $1,024.95 | |
| 24 | Apr 2, 2027 | $979.57 | $23,491.67 | $75.76 | $22,587.86 | $23,656.92 | $946.28 | $22,710.64 | $1,022.04 | |
| 25 | May 2, 2027 | $979.57 | $22,587.86 | $72.85 | $21,681.14 | $22,710.64 | $946.28 | $21,764.36 | $1,019.13 | |
| 26 | Jun 2, 2027 | $979.57 | $21,681.14 | $69.92 | $20,771.49 | $21,764.36 | $946.28 | $20,818.08 | $1,016.20 | |
| 27 | Jul 2, 2027 | $979.57 | $20,771.49 | $66.99 | $19,858.91 | $20,818.08 | $946.28 | $19,871.80 | $1,013.27 | |
| 28 | Aug 2, 2027 | $979.57 | $19,858.91 | $64.04 | $18,943.38 | $19,871.80 | $946.28 | $18,925.52 | $1,010.32 | |
| 29 | Sep 2, 2027 | $979.57 | $18,943.38 | $61.09 | $18,024.90 | $18,925.52 | $946.28 | $17,979.24 | $1,007.37 | |
| 30 | Oct 2, 2027 | $979.57 | $18,024.90 | $58.13 | $17,103.46 | $17,979.24 | $946.28 | $17,032.96 | $1,004.41 | |
| 31 | Nov 2, 2027 | $979.57 | $17,103.46 | $55.16 | $16,179.05 | $17,032.96 | $946.28 | $16,086.68 | $1,001.44 | |
| 32 | Dec 2, 2027 | $979.57 | $16,179.05 | $52.18 | $15,251.66 | $16,086.68 | $946.28 | $15,140.40 | $998.46 | |
| 33 | Jan 2, 2028 | $979.57 | $15,251.66 | $49.19 | $14,321.28 | $15,140.40 | $946.28 | $14,194.12 | $995.47 | |
| 34 | Feb 2, 2028 | $979.57 | $14,321.28 | $46.19 | $13,387.90 | $14,194.12 | $946.27 | $13,247.85 | $992.46 | |
| 35 | Mar 2, 2028 | $979.57 | $13,387.90 | $43.18 | $12,451.51 | $13,247.85 | $946.28 | $12,301.57 | $989.46 | |
| 36 | Apr 2, 2028 | $979.57 | $12,451.51 | $40.16 | $11,512.10 | $12,301.57 | $946.27 | $11,355.30 | $986.43 | |
| 37 | May 2, 2028 | $979.57 | $11,512.10 | $37.13 | $10,569.66 | $11,355.30 | $946.28 | $10,409.02 | $983.41 | |
| 38 | Jun 2, 2028 | $979.57 | $10,569.66 | $34.09 | $9,624.18 | $10,409.02 | $946.27 | $9,462.75 | $980.36 | |
| 39 | Jul 2, 2028 | $979.57 | $9,624.18 | $31.04 | $8,675.65 | $9,462.75 | $946.28 | $8,516.47 | $977.32 | |
| 40 | Aug 2, 2028 | $979.57 | $8,675.65 | $27.98 | $7,724.06 | $8,516.47 | $946.27 | $7,570.20 | $974.25 | |
| 41 | Sep 2, 2028 | $979.57 | $7,724.06 | $24.91 | $6,769.40 | $7,570.20 | $946.28 | $6,623.92 | $971.19 | |
| 42 | Oct 2, 2028 | $979.57 | $6,769.40 | $21.83 | $5,811.66 | $6,623.92 | $946.27 | $5,677.65 | $968.10 | |
| 43 | Nov 2, 2028 | $979.57 | $5,811.66 | $18.74 | $4,850.83 | $5,677.65 | $946.28 | $4,731.37 | $965.02 | |
| 44 | Dec 2, 2028 | $979.57 | $4,850.83 | $15.64 | $3,886.90 | $4,731.37 | $946.27 | $3,785.10 | $961.91 | |
| 45 | Jan 2, 2029 | $979.57 | $3,886.90 | $12.54 | $2,919.87 | $3,785.10 | $946.28 | $2,838.82 | $958.82 | |
| 46 | Feb 2, 2029 | $979.57 | $2,919.87 | $9.42 | $1,949.72 | $2,838.82 | $946.27 | $1,892.55 | $955.69 | |
| 47 | Mar 2, 2029 | $979.57 | $1,949.72 | $6.29 | $976.44 | $1,892.55 | $946.28 | $946.27 | $952.57 | |
| 48 | Apr 2, 2029 | $979.57 | $976.44 | $3.13 | $0.00 | $946.27 | $946.27 | $0.00 | $949.40 | |
| Totals | $48,950.94 | $3,529.58 | $45,421.36 | $0.00 | $48,950.94 | |||||
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 | $146.48 | |
| Finance Lease Liability | Interest accretion | $146.48 | |
| Finance Lease Liability | Lease payment | $2,911.15 | |
| Cash / Accounts Payable | Lease payment | $2,911.15 | |
| Amortization of ROU Asset | ROU amortization | $946.28 | |
| Accumulated Amortization - Finance ROU | ROU amortization | $946.28 | |
| In balance | $4,003.91 | $4,003.91 | |