PU59
Active1FTFX1E51NKF06688 - 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 59 · 1FTFX1E51NKF06688
- Commencement
- Oct 22, 2022
- Lease end
- Sep 22, 2026
- Rent commencement
- Nov 22, 2022
- Payment timing
- Arrears · monthly
- Lease term
- 48 base periods
Measurement inputs
- Discount rate
- 4.36% annual (0.363% monthly)
- Rate basis
- Imported from ROU-01 workbook (template cell J24).
- Useful life
- Not provided
- Fair value
- $44,454.81
- Initial direct costs
- $0.00
- Prepayment
- $0.00
- Lease incentive
- $0.00
- Undiscounted payments
- $35,554.56
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 32572.71 / fair value 44454.81 = 73.3% (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
- $32,572.71
- + Initial direct costs
- $0.00
- + Prepayment
- $0.00
- + Lease incentive
- $0.00
- = ROU asset
- $32,572.71
- Lease liability
- $32,572.71
Initial journal entry
Posted Nov 22, 2022
| Account | Memo | Debit | Credit |
|---|---|---|---|
| ROU Asset - Operating Leases | Recognize ROU asset at commencement | $32,572.71 | |
| Operating Lease Liability | Recognize lease liability | $32,572.71 | |
| In balance | $32,572.71 | $32,572.71 | |
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 | Nov 22, 2022 | $740.72 | $32,572.71 | $118.35 | $31,950.34 | $32,572.71 | $622.37 | $31,950.34 | $740.72 | |
| 2 | Dec 22, 2022 | $740.72 | $31,950.34 | $116.09 | $31,325.71 | $31,950.34 | $624.63 | $31,325.71 | $740.72 | |
| 3 | Jan 22, 2023 | $740.72 | $31,325.71 | $113.82 | $30,698.81 | $31,325.71 | $626.90 | $30,698.81 | $740.72 | |
| 4 | Feb 22, 2023 | $740.72 | $30,698.81 | $111.54 | $30,069.63 | $30,698.81 | $629.18 | $30,069.63 | $740.72 | |
| 5 | Mar 22, 2023 | $740.72 | $30,069.63 | $109.25 | $29,438.16 | $30,069.63 | $631.47 | $29,438.16 | $740.72 | |
| 6 | Apr 22, 2023 | $740.72 | $29,438.16 | $106.96 | $28,804.40 | $29,438.16 | $633.76 | $28,804.40 | $740.72 | |
| 7 | May 22, 2023 | $740.72 | $28,804.40 | $104.66 | $28,168.34 | $28,804.40 | $636.06 | $28,168.34 | $740.72 | |
| 8 | Jun 22, 2023 | $740.72 | $28,168.34 | $102.34 | $27,529.96 | $28,168.34 | $638.38 | $27,529.96 | $740.72 | |
| 9 | Jul 22, 2023 | $740.72 | $27,529.96 | $100.03 | $26,889.27 | $27,529.96 | $640.69 | $26,889.27 | $740.72 | |
| 10 | Aug 22, 2023 | $740.72 | $26,889.27 | $97.70 | $26,246.25 | $26,889.27 | $643.02 | $26,246.25 | $740.72 | |
| 11 | Sep 22, 2023 | $740.72 | $26,246.25 | $95.36 | $25,600.89 | $26,246.25 | $645.36 | $25,600.89 | $740.72 | |
| 12 | Oct 22, 2023 | $740.72 | $25,600.89 | $93.02 | $24,953.19 | $25,600.89 | $647.70 | $24,953.19 | $740.72 | |
| 13 | Nov 22, 2023 | $740.72 | $24,953.19 | $90.66 | $24,303.13 | $24,953.19 | $650.06 | $24,303.13 | $740.72 | |
| 14 | Dec 22, 2023 | $740.72 | $24,303.13 | $88.30 | $23,650.71 | $24,303.13 | $652.42 | $23,650.71 | $740.72 | |
| 15 | Jan 22, 2024 | $740.72 | $23,650.71 | $85.93 | $22,995.92 | $23,650.71 | $654.79 | $22,995.92 | $740.72 | |
| 16 | Feb 22, 2024 | $740.72 | $22,995.92 | $83.55 | $22,338.75 | $22,995.92 | $657.17 | $22,338.75 | $740.72 | |
| 17 | Mar 22, 2024 | $740.72 | $22,338.75 | $81.16 | $21,679.19 | $22,338.75 | $659.56 | $21,679.19 | $740.72 | |
| 18 | Apr 22, 2024 | $740.72 | $21,679.19 | $78.77 | $21,017.24 | $21,679.19 | $661.95 | $21,017.24 | $740.72 | |
| 19 | May 22, 2024 | $740.72 | $21,017.24 | $76.36 | $20,352.88 | $21,017.24 | $664.36 | $20,352.88 | $740.72 | |
| 20 | Jun 22, 2024 | $740.72 | $20,352.88 | $73.95 | $19,686.11 | $20,352.88 | $666.77 | $19,686.11 | $740.72 | |
| 21 | Jul 22, 2024 | $740.72 | $19,686.11 | $71.53 | $19,016.92 | $19,686.11 | $669.19 | $19,016.92 | $740.72 | |
| 22 | Aug 22, 2024 | $740.72 | $19,016.92 | $69.09 | $18,345.29 | $19,016.92 | $671.63 | $18,345.29 | $740.72 | |
| 23 | Sep 22, 2024 | $740.72 | $18,345.29 | $66.65 | $17,671.22 | $18,345.29 | $674.07 | $17,671.22 | $740.72 | |
| 24 | Oct 22, 2024 | $740.72 | $17,671.22 | $64.21 | $16,994.71 | $17,671.22 | $676.51 | $16,994.71 | $740.72 | |
| 25 | Nov 22, 2024 | $740.72 | $16,994.71 | $61.75 | $16,315.74 | $16,994.71 | $678.97 | $16,315.74 | $740.72 | |
| 26 | Dec 22, 2024 | $740.72 | $16,315.74 | $59.28 | $15,634.30 | $16,315.74 | $681.44 | $15,634.30 | $740.72 | |
| 27 | Jan 22, 2025 | $740.72 | $15,634.30 | $56.80 | $14,950.38 | $15,634.30 | $683.92 | $14,950.38 | $740.72 | |
| 28 | Feb 22, 2025 | $740.72 | $14,950.38 | $54.32 | $14,263.98 | $14,950.38 | $686.40 | $14,263.98 | $740.72 | |
| 29 | Mar 22, 2025 | $740.72 | $14,263.98 | $51.83 | $13,575.09 | $14,263.98 | $688.89 | $13,575.09 | $740.72 | |
| 30 | Apr 22, 2025 | $740.72 | $13,575.09 | $49.32 | $12,883.69 | $13,575.09 | $691.40 | $12,883.69 | $740.72 | |
| 31 | May 22, 2025 | $740.72 | $12,883.69 | $46.81 | $12,189.78 | $12,883.69 | $693.91 | $12,189.78 | $740.72 | |
| 32 | Jun 22, 2025 | $740.72 | $12,189.78 | $44.29 | $11,493.35 | $12,189.78 | $696.43 | $11,493.35 | $740.72 | |
| 33 | Jul 22, 2025 | $740.72 | $11,493.35 | $41.76 | $10,794.39 | $11,493.35 | $698.96 | $10,794.39 | $740.72 | |
| 34 | Aug 22, 2025 | $740.72 | $10,794.39 | $39.22 | $10,092.89 | $10,794.39 | $701.50 | $10,092.89 | $740.72 | |
| 35 | Sep 22, 2025 | $740.72 | $10,092.89 | $36.67 | $9,388.84 | $10,092.89 | $704.05 | $9,388.84 | $740.72 | |
| 36 | Oct 22, 2025 | $740.72 | $9,388.84 | $34.11 | $8,682.23 | $9,388.84 | $706.61 | $8,682.23 | $740.72 | |
| 37 | Nov 22, 2025 | $740.72 | $8,682.23 | $31.55 | $7,973.06 | $8,682.23 | $709.17 | $7,973.06 | $740.72 | |
| 38 | Dec 22, 2025 | $740.72 | $7,973.06 | $28.97 | $7,261.31 | $7,973.06 | $711.75 | $7,261.31 | $740.72 | |
| 39 | Jan 22, 2026 | $740.72 | $7,261.31 | $26.38 | $6,546.97 | $7,261.31 | $714.34 | $6,546.97 | $740.72 | |
| 40 | Feb 22, 2026 | $740.72 | $6,546.97 | $23.79 | $5,830.04 | $6,546.97 | $716.93 | $5,830.04 | $740.72 | |
| 41 | Mar 22, 2026 | $740.72 | $5,830.04 | $21.18 | $5,110.50 | $5,830.04 | $719.54 | $5,110.50 | $740.72 | |
| 42 | Apr 22, 2026 | $740.72 | $5,110.50 | $18.57 | $4,388.35 | $5,110.50 | $722.15 | $4,388.35 | $740.72 | |
| 43 | May 22, 2026 | $740.72 | $4,388.35 | $15.94 | $3,663.57 | $4,388.35 | $724.78 | $3,663.57 | $740.72 | |
| 44 | Jun 22, 2026 | $740.72 | $3,663.57 | $13.31 | $2,936.16 | $3,663.57 | $727.41 | $2,936.16 | $740.72 | |
| 45 | Jul 22, 2026 | $740.72 | $2,936.16 | $10.67 | $2,206.11 | $2,936.16 | $730.05 | $2,206.11 | $740.72 | |
| 46 | Aug 22, 2026 | $740.72 | $2,206.11 | $8.02 | $1,473.41 | $2,206.11 | $732.70 | $1,473.41 | $740.72 | |
| 47 | Sep 22, 2026 | $740.72 | $1,473.41 | $5.35 | $738.04 | $1,473.41 | $735.37 | $738.04 | $740.72 | |
| 48 | Oct 22, 2026 | $740.72 | $738.04 | $2.68 | $0.00 | $738.04 | $738.04 | $0.00 | $740.72 | |
| Totals | $35,554.56 | $2,981.85 | $32,572.71 | $0.00 | $35,554.56 | |||||
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 | $740.72 | |
| Operating Lease Liability | Lease liability reduction | $622.37 | |
| Cash / Accounts Payable | Lease payment | $740.72 | |
| ROU Asset - Operating Leases | ROU amortization | $622.37 | |
| In balance | $1,363.09 | $1,363.09 | |