PU60
Active1FTFX1E50NKF08061 - 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 60 · 1FTFX1E50NKF08061
- 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
- 4.34% annual (0.362% monthly)
- Rate basis
- Imported from ROU-01 workbook (template cell J24).
- Useful life
- Not provided
- Fair value
- $44,451.13
- Initial direct costs
- $0.00
- Prepayment
- $0.00
- Lease incentive
- $0.00
- Undiscounted payments
- $39,403.68
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 36113.29 / fair value 44451.13 = 81.2% (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
- $36,113.29
- + Initial direct costs
- $0.00
- + Prepayment
- $0.00
- + Lease incentive
- $0.00
- = ROU asset
- $36,113.29
- Lease liability
- $36,113.29
Initial journal entry
Posted Nov 22, 2022
| Account | Memo | Debit | Credit |
|---|---|---|---|
| ROU Asset - Operating Leases | Recognize ROU asset at commencement | $36,113.29 | |
| Operating Lease Liability | Recognize lease liability | $36,113.29 | |
| In balance | $36,113.29 | $36,113.29 | |
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 | $820.91 | $36,113.29 | $130.61 | $35,422.99 | $36,113.29 | $690.30 | $35,422.99 | $820.91 | |
| 2 | Dec 22, 2022 | $820.91 | $35,422.99 | $128.11 | $34,730.19 | $35,422.99 | $692.80 | $34,730.19 | $820.91 | |
| 3 | Jan 22, 2023 | $820.91 | $34,730.19 | $125.61 | $34,034.89 | $34,730.19 | $695.30 | $34,034.89 | $820.91 | |
| 4 | Feb 22, 2023 | $820.91 | $34,034.89 | $123.09 | $33,337.07 | $34,034.89 | $697.82 | $33,337.07 | $820.91 | |
| 5 | Mar 22, 2023 | $820.91 | $33,337.07 | $120.57 | $32,636.73 | $33,337.07 | $700.34 | $32,636.73 | $820.91 | |
| 6 | Apr 22, 2023 | $820.91 | $32,636.73 | $118.04 | $31,933.86 | $32,636.73 | $702.87 | $31,933.86 | $820.91 | |
| 7 | May 22, 2023 | $820.91 | $31,933.86 | $115.49 | $31,228.44 | $31,933.86 | $705.42 | $31,228.44 | $820.91 | |
| 8 | Jun 22, 2023 | $820.91 | $31,228.44 | $112.94 | $30,520.47 | $31,228.44 | $707.97 | $30,520.47 | $820.91 | |
| 9 | Jul 22, 2023 | $820.91 | $30,520.47 | $110.38 | $29,809.94 | $30,520.47 | $710.53 | $29,809.94 | $820.91 | |
| 10 | Aug 22, 2023 | $820.91 | $29,809.94 | $107.81 | $29,096.84 | $29,809.94 | $713.10 | $29,096.84 | $820.91 | |
| 11 | Sep 22, 2023 | $820.91 | $29,096.84 | $105.23 | $28,381.16 | $29,096.84 | $715.68 | $28,381.16 | $820.91 | |
| 12 | Oct 22, 2023 | $820.91 | $28,381.16 | $102.65 | $27,662.90 | $28,381.16 | $718.26 | $27,662.90 | $820.91 | |
| 13 | Nov 22, 2023 | $820.91 | $27,662.90 | $100.05 | $26,942.04 | $27,662.90 | $720.86 | $26,942.04 | $820.91 | |
| 14 | Dec 22, 2023 | $820.91 | $26,942.04 | $97.44 | $26,218.57 | $26,942.04 | $723.47 | $26,218.57 | $820.91 | |
| 15 | Jan 22, 2024 | $820.91 | $26,218.57 | $94.82 | $25,492.48 | $26,218.57 | $726.09 | $25,492.48 | $820.91 | |
| 16 | Feb 22, 2024 | $820.91 | $25,492.48 | $92.20 | $24,763.77 | $25,492.48 | $728.71 | $24,763.77 | $820.91 | |
| 17 | Mar 22, 2024 | $820.91 | $24,763.77 | $89.56 | $24,032.42 | $24,763.77 | $731.35 | $24,032.42 | $820.91 | |
| 18 | Apr 22, 2024 | $820.91 | $24,032.42 | $86.92 | $23,298.43 | $24,032.42 | $733.99 | $23,298.43 | $820.91 | |
| 19 | May 22, 2024 | $820.91 | $23,298.43 | $84.26 | $22,561.78 | $23,298.43 | $736.65 | $22,561.78 | $820.91 | |
| 20 | Jun 22, 2024 | $820.91 | $22,561.78 | $81.60 | $21,822.47 | $22,561.78 | $739.31 | $21,822.47 | $820.91 | |
| 21 | Jul 22, 2024 | $820.91 | $21,822.47 | $78.92 | $21,080.48 | $21,822.47 | $741.99 | $21,080.48 | $820.91 | |
| 22 | Aug 22, 2024 | $820.91 | $21,080.48 | $76.24 | $20,335.81 | $21,080.48 | $744.67 | $20,335.81 | $820.91 | |
| 23 | Sep 22, 2024 | $820.91 | $20,335.81 | $73.55 | $19,588.45 | $20,335.81 | $747.36 | $19,588.45 | $820.91 | |
| 24 | Oct 22, 2024 | $820.91 | $19,588.45 | $70.84 | $18,838.38 | $19,588.45 | $750.07 | $18,838.38 | $820.91 | |
| 25 | Nov 22, 2024 | $820.91 | $18,838.38 | $68.13 | $18,085.60 | $18,838.38 | $752.78 | $18,085.60 | $820.91 | |
| 26 | Dec 22, 2024 | $820.91 | $18,085.60 | $65.41 | $17,330.10 | $18,085.60 | $755.50 | $17,330.10 | $820.91 | |
| 27 | Jan 22, 2025 | $820.91 | $17,330.10 | $62.68 | $16,571.87 | $17,330.10 | $758.23 | $16,571.87 | $820.91 | |
| 28 | Feb 22, 2025 | $820.91 | $16,571.87 | $59.93 | $15,810.89 | $16,571.87 | $760.98 | $15,810.89 | $820.91 | |
| 29 | Mar 22, 2025 | $820.91 | $15,810.89 | $57.18 | $15,047.16 | $15,810.89 | $763.73 | $15,047.16 | $820.91 | |
| 30 | Apr 22, 2025 | $820.91 | $15,047.16 | $54.42 | $14,280.67 | $15,047.16 | $766.49 | $14,280.67 | $820.91 | |
| 31 | May 22, 2025 | $820.91 | $14,280.67 | $51.65 | $13,511.41 | $14,280.67 | $769.26 | $13,511.41 | $820.91 | |
| 32 | Jun 22, 2025 | $820.91 | $13,511.41 | $48.87 | $12,739.37 | $13,511.41 | $772.04 | $12,739.37 | $820.91 | |
| 33 | Jul 22, 2025 | $820.91 | $12,739.37 | $46.07 | $11,964.53 | $12,739.37 | $774.84 | $11,964.53 | $820.91 | |
| 34 | Aug 22, 2025 | $820.91 | $11,964.53 | $43.27 | $11,186.89 | $11,964.53 | $777.64 | $11,186.89 | $820.91 | |
| 35 | Sep 22, 2025 | $820.91 | $11,186.89 | $40.46 | $10,406.44 | $11,186.89 | $780.45 | $10,406.44 | $820.91 | |
| 36 | Oct 22, 2025 | $820.91 | $10,406.44 | $37.64 | $9,623.17 | $10,406.44 | $783.27 | $9,623.17 | $820.91 | |
| 37 | Nov 22, 2025 | $820.91 | $9,623.17 | $34.80 | $8,837.06 | $9,623.17 | $786.11 | $8,837.06 | $820.91 | |
| 38 | Dec 22, 2025 | $820.91 | $8,837.06 | $31.96 | $8,048.11 | $8,837.06 | $788.95 | $8,048.11 | $820.91 | |
| 39 | Jan 22, 2026 | $820.91 | $8,048.11 | $29.11 | $7,256.31 | $8,048.11 | $791.80 | $7,256.31 | $820.91 | |
| 40 | Feb 22, 2026 | $820.91 | $7,256.31 | $26.24 | $6,461.64 | $7,256.31 | $794.67 | $6,461.64 | $820.91 | |
| 41 | Mar 22, 2026 | $820.91 | $6,461.64 | $23.37 | $5,664.10 | $6,461.64 | $797.54 | $5,664.10 | $820.91 | |
| 42 | Apr 22, 2026 | $820.91 | $5,664.10 | $20.49 | $4,863.68 | $5,664.10 | $800.42 | $4,863.68 | $820.91 | |
| 43 | May 22, 2026 | $820.91 | $4,863.68 | $17.59 | $4,060.36 | $4,863.68 | $803.32 | $4,060.36 | $820.91 | |
| 44 | Jun 22, 2026 | $820.91 | $4,060.36 | $14.68 | $3,254.13 | $4,060.36 | $806.23 | $3,254.13 | $820.91 | |
| 45 | Jul 22, 2026 | $820.91 | $3,254.13 | $11.77 | $2,444.99 | $3,254.13 | $809.14 | $2,444.99 | $820.91 | |
| 46 | Aug 22, 2026 | $820.91 | $2,444.99 | $8.84 | $1,632.92 | $2,444.99 | $812.07 | $1,632.92 | $820.91 | |
| 47 | Sep 22, 2026 | $820.91 | $1,632.92 | $5.91 | $817.92 | $1,632.92 | $815.00 | $817.92 | $820.91 | |
| 48 | Oct 22, 2026 | $820.91 | $817.92 | $2.99 | $0.00 | $817.92 | $817.92 | $0.00 | $820.91 | |
| Totals | $39,403.68 | $3,290.39 | $36,113.29 | $0.00 | $39,403.68 | |||||
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 | $820.91 | |
| Operating Lease Liability | Lease liability reduction | $690.30 | |
| Cash / Accounts Payable | Lease payment | $820.91 | |
| ROU Asset - Operating Leases | ROU amortization | $690.30 | |
| In balance | $1,511.21 | $1,511.21 | |