PU57
Active1FTFX1E56NKE11267 - Ford F-150 XL 4x4 SuperCab 6.5 ft. box 145 in. WB
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
- Vehicle
- Asset ID / serial
- PU 57 · 1FTFX1E56NKE11267
- Commencement
- Jun 23, 2022
- Lease end
- May 23, 2026
- Rent commencement
- Jul 23, 2022
- Payment timing
- Arrears · monthly
- Lease term
- 48 base periods
Measurement inputs
- Discount rate
- 3.14% annual (0.262% monthly)
- Rate basis
- Imported from ROU-01 workbook (template cell J24).
- Useful life
- Not provided
- Fair value
- $44,109.68
- Initial direct costs
- $0.00
- Prepayment
- $0.00
- Lease incentive
- $0.00
- Undiscounted payments
- $31,257.12
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
PV 29337.83 / fair value 44109.68 = 66.5% (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
- $29,337.83
- + Initial direct costs
- $0.00
- + Prepayment
- $0.00
- + Lease incentive
- $0.00
- = ROU asset
- $29,337.83
- Lease liability
- $29,337.83
Initial journal entry
Posted Jul 23, 2022
| Account | Memo | Debit | Credit |
|---|---|---|---|
| ROU Asset - Operating Leases | Recognize ROU asset at commencement | $29,337.83 | |
| Operating Lease Liability | Recognize lease liability | $29,337.83 | |
| In balance | $29,337.83 | $29,337.83 | |
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 | Jul 23, 2022 | $651.19 | $29,337.83 | $76.77 | $28,763.41 | $29,337.83 | $574.42 | $28,763.41 | $651.19 | |
| 2 | Aug 23, 2022 | $651.19 | $28,763.41 | $75.26 | $28,187.48 | $28,763.41 | $575.93 | $28,187.48 | $651.19 | |
| 3 | Sep 23, 2022 | $651.19 | $28,187.48 | $73.76 | $27,610.05 | $28,187.48 | $577.43 | $27,610.05 | $651.19 | |
| 4 | Oct 23, 2022 | $651.19 | $27,610.05 | $72.25 | $27,031.11 | $27,610.05 | $578.94 | $27,031.11 | $651.19 | |
| 5 | Nov 23, 2022 | $651.19 | $27,031.11 | $70.73 | $26,450.65 | $27,031.11 | $580.46 | $26,450.65 | $651.19 | |
| 6 | Dec 23, 2022 | $651.19 | $26,450.65 | $69.21 | $25,868.67 | $26,450.65 | $581.98 | $25,868.67 | $651.19 | |
| 7 | Jan 23, 2023 | $651.19 | $25,868.67 | $67.69 | $25,285.17 | $25,868.67 | $583.50 | $25,285.17 | $651.19 | |
| 8 | Feb 23, 2023 | $651.19 | $25,285.17 | $66.16 | $24,700.14 | $25,285.17 | $585.03 | $24,700.14 | $651.19 | |
| 9 | Mar 23, 2023 | $651.19 | $24,700.14 | $64.63 | $24,113.58 | $24,700.14 | $586.56 | $24,113.58 | $651.19 | |
| 10 | Apr 23, 2023 | $651.19 | $24,113.58 | $63.10 | $23,525.49 | $24,113.58 | $588.09 | $23,525.49 | $651.19 | |
| 11 | May 23, 2023 | $651.19 | $23,525.49 | $61.56 | $22,935.86 | $23,525.49 | $589.63 | $22,935.86 | $651.19 | |
| 12 | Jun 23, 2023 | $651.19 | $22,935.86 | $60.02 | $22,344.69 | $22,935.86 | $591.17 | $22,344.69 | $651.19 | |
| 13 | Jul 23, 2023 | $651.19 | $22,344.69 | $58.47 | $21,751.97 | $22,344.69 | $592.72 | $21,751.97 | $651.19 | |
| 14 | Aug 23, 2023 | $651.19 | $21,751.97 | $56.92 | $21,157.70 | $21,751.97 | $594.27 | $21,157.70 | $651.19 | |
| 15 | Sep 23, 2023 | $651.19 | $21,157.70 | $55.36 | $20,561.87 | $21,157.70 | $595.83 | $20,561.87 | $651.19 | |
| 16 | Oct 23, 2023 | $651.19 | $20,561.87 | $53.80 | $19,964.48 | $20,561.87 | $597.39 | $19,964.48 | $651.19 | |
| 17 | Nov 23, 2023 | $651.19 | $19,964.48 | $52.24 | $19,365.53 | $19,964.48 | $598.95 | $19,365.53 | $651.19 | |
| 18 | Dec 23, 2023 | $651.19 | $19,365.53 | $50.67 | $18,765.01 | $19,365.53 | $600.52 | $18,765.01 | $651.19 | |
| 19 | Jan 23, 2024 | $651.19 | $18,765.01 | $49.10 | $18,162.92 | $18,765.01 | $602.09 | $18,162.92 | $651.19 | |
| 20 | Feb 23, 2024 | $651.19 | $18,162.92 | $47.53 | $17,559.26 | $18,162.92 | $603.66 | $17,559.26 | $651.19 | |
| 21 | Mar 23, 2024 | $651.19 | $17,559.26 | $45.95 | $16,954.02 | $17,559.26 | $605.24 | $16,954.02 | $651.19 | |
| 22 | Apr 23, 2024 | $651.19 | $16,954.02 | $44.36 | $16,347.19 | $16,954.02 | $606.83 | $16,347.19 | $651.19 | |
| 23 | May 23, 2024 | $651.19 | $16,347.19 | $42.78 | $15,738.78 | $16,347.19 | $608.41 | $15,738.78 | $651.19 | |
| 24 | Jun 23, 2024 | $651.19 | $15,738.78 | $41.18 | $15,128.77 | $15,738.78 | $610.01 | $15,128.77 | $651.19 | |
| 25 | Jul 23, 2024 | $651.19 | $15,128.77 | $39.59 | $14,517.17 | $15,128.77 | $611.60 | $14,517.17 | $651.19 | |
| 26 | Aug 23, 2024 | $651.19 | $14,517.17 | $37.99 | $13,903.97 | $14,517.17 | $613.20 | $13,903.97 | $651.19 | |
| 27 | Sep 23, 2024 | $651.19 | $13,903.97 | $36.38 | $13,289.16 | $13,903.97 | $614.81 | $13,289.16 | $651.19 | |
| 28 | Oct 23, 2024 | $651.19 | $13,289.16 | $34.77 | $12,672.74 | $13,289.16 | $616.42 | $12,672.74 | $651.19 | |
| 29 | Nov 23, 2024 | $651.19 | $12,672.74 | $33.16 | $12,054.71 | $12,672.74 | $618.03 | $12,054.71 | $651.19 | |
| 30 | Dec 23, 2024 | $651.19 | $12,054.71 | $31.54 | $11,435.06 | $12,054.71 | $619.65 | $11,435.06 | $651.19 | |
| 31 | Jan 23, 2025 | $651.19 | $11,435.06 | $29.92 | $10,813.79 | $11,435.06 | $621.27 | $10,813.79 | $651.19 | |
| 32 | Feb 23, 2025 | $651.19 | $10,813.79 | $28.30 | $10,190.90 | $10,813.79 | $622.89 | $10,190.90 | $651.19 | |
| 33 | Mar 23, 2025 | $651.19 | $10,190.90 | $26.67 | $9,566.38 | $10,190.90 | $624.52 | $9,566.38 | $651.19 | |
| 34 | Apr 23, 2025 | $651.19 | $9,566.38 | $25.03 | $8,940.22 | $9,566.38 | $626.16 | $8,940.22 | $651.19 | |
| 35 | May 23, 2025 | $651.19 | $8,940.22 | $23.39 | $8,312.42 | $8,940.22 | $627.80 | $8,312.42 | $651.19 | |
| 36 | Jun 23, 2025 | $651.19 | $8,312.42 | $21.75 | $7,682.98 | $8,312.42 | $629.44 | $7,682.98 | $651.19 | |
| 37 | Jul 23, 2025 | $651.19 | $7,682.98 | $20.10 | $7,051.89 | $7,682.98 | $631.09 | $7,051.89 | $651.19 | |
| 38 | Aug 23, 2025 | $651.19 | $7,051.89 | $18.45 | $6,419.15 | $7,051.89 | $632.74 | $6,419.15 | $651.19 | |
| 39 | Sep 23, 2025 | $651.19 | $6,419.15 | $16.80 | $5,784.76 | $6,419.15 | $634.39 | $5,784.76 | $651.19 | |
| 40 | Oct 23, 2025 | $651.19 | $5,784.76 | $15.14 | $5,148.71 | $5,784.76 | $636.05 | $5,148.71 | $651.19 | |
| 41 | Nov 23, 2025 | $651.19 | $5,148.71 | $13.47 | $4,510.99 | $5,148.71 | $637.72 | $4,510.99 | $651.19 | |
| 42 | Dec 23, 2025 | $651.19 | $4,510.99 | $11.80 | $3,871.60 | $4,510.99 | $639.39 | $3,871.60 | $651.19 | |
| 43 | Jan 23, 2026 | $651.19 | $3,871.60 | $10.13 | $3,230.54 | $3,871.60 | $641.06 | $3,230.54 | $651.19 | |
| 44 | Feb 23, 2026 | $651.19 | $3,230.54 | $8.45 | $2,587.80 | $3,230.54 | $642.74 | $2,587.80 | $651.19 | |
| 45 | Mar 23, 2026 | $651.19 | $2,587.80 | $6.77 | $1,943.38 | $2,587.80 | $644.42 | $1,943.38 | $651.19 | |
| 46 | Apr 23, 2026 | $651.19 | $1,943.38 | $5.09 | $1,297.28 | $1,943.38 | $646.10 | $1,297.28 | $651.19 | |
| 47 | May 23, 2026 | $651.19 | $1,297.28 | $3.39 | $649.48 | $1,297.28 | $647.80 | $649.48 | $651.19 | |
| 48 | Jun 23, 2026 | $651.19 | $649.48 | $1.71 | $0.00 | $649.48 | $649.48 | $0.00 | $651.19 | |
| Totals | $31,257.12 | $1,919.29 | $29,337.83 | $0.00 | $31,257.12 | |||||
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 | $651.19 | |
| Operating Lease Liability | Lease liability reduction | $574.42 | |
| Cash / Accounts Payable | Lease payment | $651.19 | |
| ROU Asset - Operating Leases | ROU amortization | $574.42 | |
| In balance | $1,225.61 | $1,225.61 | |