PU53
ExpiredPU
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
- Enterprise
- Asset class
- Vehicle
- Asset category
- Unspecified
- Asset ID / serial
- PU
- Commencement
- May 12, 2021
- Lease end
- Apr 12, 2025
- Rent commencement
- Jun 12, 2021
- Payment timing
- Arrears · monthly
- Lease term
- 48 base periods
Measurement inputs
- Discount rate
- 0.87% annual (0.073% 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
- $31,203.84
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
- $30,656.22
- + Initial direct costs
- $0.00
- + Prepayment
- $0.00
- + Lease incentive
- $0.00
- = ROU asset
- $30,656.22
- Lease liability
- $30,656.22
Initial journal entry
Posted Jun 12, 2021
| Account | Memo | Debit | Credit |
|---|---|---|---|
| ROU Asset - Operating Leases | Recognize ROU asset at commencement | $30,656.22 | |
| Operating Lease Liability | Recognize lease liability | $30,656.22 | |
| In balance | $30,656.22 | $30,656.22 | |
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 | Jun 12, 2021 | $650.08 | $30,656.22 | $22.23 | $30,028.37 | $30,656.22 | $627.85 | $30,028.37 | $650.08 | |
| 2 | Jul 12, 2021 | $650.08 | $30,028.37 | $21.77 | $29,400.06 | $30,028.37 | $628.31 | $29,400.06 | $650.08 | |
| 3 | Aug 12, 2021 | $650.08 | $29,400.06 | $21.32 | $28,771.30 | $29,400.06 | $628.76 | $28,771.30 | $650.08 | |
| 4 | Sep 12, 2021 | $650.08 | $28,771.30 | $20.86 | $28,142.08 | $28,771.30 | $629.22 | $28,142.08 | $650.08 | |
| 5 | Oct 12, 2021 | $650.08 | $28,142.08 | $20.40 | $27,512.40 | $28,142.08 | $629.68 | $27,512.40 | $650.08 | |
| 6 | Nov 12, 2021 | $650.08 | $27,512.40 | $19.95 | $26,882.27 | $27,512.40 | $630.13 | $26,882.27 | $650.08 | |
| 7 | Dec 12, 2021 | $650.08 | $26,882.27 | $19.49 | $26,251.68 | $26,882.27 | $630.59 | $26,251.68 | $650.08 | |
| 8 | Jan 12, 2022 | $650.08 | $26,251.68 | $19.03 | $25,620.63 | $26,251.68 | $631.05 | $25,620.63 | $650.08 | |
| 9 | Feb 12, 2022 | $650.08 | $25,620.63 | $18.57 | $24,989.12 | $25,620.63 | $631.51 | $24,989.12 | $650.08 | |
| 10 | Mar 12, 2022 | $650.08 | $24,989.12 | $18.12 | $24,357.16 | $24,989.12 | $631.96 | $24,357.16 | $650.08 | |
| 11 | Apr 12, 2022 | $650.08 | $24,357.16 | $17.66 | $23,724.74 | $24,357.16 | $632.42 | $23,724.74 | $650.08 | |
| 12 | May 12, 2022 | $650.08 | $23,724.74 | $17.20 | $23,091.86 | $23,724.74 | $632.88 | $23,091.86 | $650.08 | |
| 13 | Jun 12, 2022 | $650.08 | $23,091.86 | $16.74 | $22,458.52 | $23,091.86 | $633.34 | $22,458.52 | $650.08 | |
| 14 | Jul 12, 2022 | $650.08 | $22,458.52 | $16.28 | $21,824.72 | $22,458.52 | $633.80 | $21,824.72 | $650.08 | |
| 15 | Aug 12, 2022 | $650.08 | $21,824.72 | $15.82 | $21,190.46 | $21,824.72 | $634.26 | $21,190.46 | $650.08 | |
| 16 | Sep 12, 2022 | $650.08 | $21,190.46 | $15.36 | $20,555.74 | $21,190.46 | $634.72 | $20,555.74 | $650.08 | |
| 17 | Oct 12, 2022 | $650.08 | $20,555.74 | $14.90 | $19,920.56 | $20,555.74 | $635.18 | $19,920.56 | $650.08 | |
| 18 | Nov 12, 2022 | $650.08 | $19,920.56 | $14.44 | $19,284.92 | $19,920.56 | $635.64 | $19,284.92 | $650.08 | |
| 19 | Dec 12, 2022 | $650.08 | $19,284.92 | $13.98 | $18,648.82 | $19,284.92 | $636.10 | $18,648.82 | $650.08 | |
| 20 | Jan 12, 2023 | $650.08 | $18,648.82 | $13.52 | $18,012.26 | $18,648.82 | $636.56 | $18,012.26 | $650.08 | |
| 21 | Feb 12, 2023 | $650.08 | $18,012.26 | $13.06 | $17,375.24 | $18,012.26 | $637.02 | $17,375.24 | $650.08 | |
| 22 | Mar 12, 2023 | $650.08 | $17,375.24 | $12.60 | $16,737.76 | $17,375.24 | $637.48 | $16,737.76 | $650.08 | |
| 23 | Apr 12, 2023 | $650.08 | $16,737.76 | $12.13 | $16,099.81 | $16,737.76 | $637.95 | $16,099.81 | $650.08 | |
| 24 | May 12, 2023 | $650.08 | $16,099.81 | $11.67 | $15,461.40 | $16,099.81 | $638.41 | $15,461.40 | $650.08 | |
| 25 | Jun 12, 2023 | $650.08 | $15,461.40 | $11.21 | $14,822.53 | $15,461.40 | $638.87 | $14,822.53 | $650.08 | |
| 26 | Jul 12, 2023 | $650.08 | $14,822.53 | $10.75 | $14,183.20 | $14,822.53 | $639.33 | $14,183.20 | $650.08 | |
| 27 | Aug 12, 2023 | $650.08 | $14,183.20 | $10.28 | $13,543.40 | $14,183.20 | $639.80 | $13,543.40 | $650.08 | |
| 28 | Sep 12, 2023 | $650.08 | $13,543.40 | $9.82 | $12,903.14 | $13,543.40 | $640.26 | $12,903.14 | $650.08 | |
| 29 | Oct 12, 2023 | $650.08 | $12,903.14 | $9.35 | $12,262.41 | $12,903.14 | $640.73 | $12,262.41 | $650.08 | |
| 30 | Nov 12, 2023 | $650.08 | $12,262.41 | $8.89 | $11,621.22 | $12,262.41 | $641.19 | $11,621.22 | $650.08 | |
| 31 | Dec 12, 2023 | $650.08 | $11,621.22 | $8.43 | $10,979.57 | $11,621.22 | $641.65 | $10,979.57 | $650.08 | |
| 32 | Jan 12, 2024 | $650.08 | $10,979.57 | $7.96 | $10,337.45 | $10,979.57 | $642.12 | $10,337.45 | $650.08 | |
| 33 | Feb 12, 2024 | $650.08 | $10,337.45 | $7.49 | $9,694.86 | $10,337.45 | $642.59 | $9,694.86 | $650.08 | |
| 34 | Mar 12, 2024 | $650.08 | $9,694.86 | $7.03 | $9,051.81 | $9,694.86 | $643.05 | $9,051.81 | $650.08 | |
| 35 | Apr 12, 2024 | $650.08 | $9,051.81 | $6.56 | $8,408.29 | $9,051.81 | $643.52 | $8,408.29 | $650.08 | |
| 36 | May 12, 2024 | $650.08 | $8,408.29 | $6.10 | $7,764.31 | $8,408.29 | $643.98 | $7,764.31 | $650.08 | |
| 37 | Jun 12, 2024 | $650.08 | $7,764.31 | $5.63 | $7,119.86 | $7,764.31 | $644.45 | $7,119.86 | $650.08 | |
| 38 | Jul 12, 2024 | $650.08 | $7,119.86 | $5.16 | $6,474.94 | $7,119.86 | $644.92 | $6,474.94 | $650.08 | |
| 39 | Aug 12, 2024 | $650.08 | $6,474.94 | $4.69 | $5,829.55 | $6,474.94 | $645.39 | $5,829.55 | $650.08 | |
| 40 | Sep 12, 2024 | $650.08 | $5,829.55 | $4.23 | $5,183.70 | $5,829.55 | $645.85 | $5,183.70 | $650.08 | |
| 41 | Oct 12, 2024 | $650.08 | $5,183.70 | $3.76 | $4,537.38 | $5,183.70 | $646.32 | $4,537.38 | $650.08 | |
| 42 | Nov 12, 2024 | $650.08 | $4,537.38 | $3.29 | $3,890.59 | $4,537.38 | $646.79 | $3,890.59 | $650.08 | |
| 43 | Dec 12, 2024 | $650.08 | $3,890.59 | $2.82 | $3,243.33 | $3,890.59 | $647.26 | $3,243.33 | $650.08 | |
| 44 | Jan 12, 2025 | $650.08 | $3,243.33 | $2.35 | $2,595.60 | $3,243.33 | $647.73 | $2,595.60 | $650.08 | |
| 45 | Feb 12, 2025 | $650.08 | $2,595.60 | $1.88 | $1,947.40 | $2,595.60 | $648.20 | $1,947.40 | $650.08 | |
| 46 | Mar 12, 2025 | $650.08 | $1,947.40 | $1.41 | $1,298.73 | $1,947.40 | $648.67 | $1,298.73 | $650.08 | |
| 47 | Apr 12, 2025 | $650.08 | $1,298.73 | $0.94 | $649.59 | $1,298.73 | $649.14 | $649.59 | $650.08 | |
| 48 | May 12, 2025 | $650.08 | $649.59 | $0.49 | $0.00 | $649.59 | $649.59 | $0.00 | $650.08 | |
| Totals | $31,203.84 | $547.62 | $30,656.22 | $0.00 | $31,203.84 | |||||
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 | $650.08 | |
| Operating Lease Liability | Lease liability reduction | $627.85 | |
| Cash / Accounts Payable | Lease payment | $650.08 | |
| ROU Asset - Operating Leases | ROU amortization | $627.85 | |
| In balance | $1,277.93 | $1,277.93 | |