PU62
Active1FTFX1E58NKF06252 - 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 62 · 1FTFX1E58NKF06252
- Commencement
- Oct 20, 2022
- Lease end
- Sep 20, 2026
- Rent commencement
- Nov 20, 2022
- Payment timing
- Arrears · monthly
- Lease term
- 48 base periods
Measurement inputs
- Discount rate
- 4.45% annual (0.371% 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
- $35,540.16
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 32501.67 / fair value 44454.81 = 73.1% (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
- $32,501.67
- + Initial direct costs
- $0.00
- + Prepayment
- $0.00
- + Lease incentive
- $0.00
- = ROU asset
- $32,501.67
- Lease liability
- $32,501.67
Initial journal entry
Posted Nov 20, 2022
| Account | Memo | Debit | Credit |
|---|---|---|---|
| ROU Asset - Operating Leases | Recognize ROU asset at commencement | $32,501.67 | |
| Operating Lease Liability | Recognize lease liability | $32,501.67 | |
| In balance | $32,501.67 | $32,501.67 | |
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 20, 2022 | $740.42 | $32,501.67 | $120.53 | $31,881.78 | $32,501.67 | $619.89 | $31,881.78 | $740.42 | |
| 2 | Dec 20, 2022 | $740.42 | $31,881.78 | $118.23 | $31,259.59 | $31,881.78 | $622.19 | $31,259.59 | $740.42 | |
| 3 | Jan 20, 2023 | $740.42 | $31,259.59 | $115.92 | $30,635.09 | $31,259.59 | $624.50 | $30,635.09 | $740.42 | |
| 4 | Feb 20, 2023 | $740.42 | $30,635.09 | $113.61 | $30,008.28 | $30,635.09 | $626.81 | $30,008.28 | $740.42 | |
| 5 | Mar 20, 2023 | $740.42 | $30,008.28 | $111.28 | $29,379.14 | $30,008.28 | $629.14 | $29,379.14 | $740.42 | |
| 6 | Apr 20, 2023 | $740.42 | $29,379.14 | $108.95 | $28,747.67 | $29,379.14 | $631.47 | $28,747.67 | $740.42 | |
| 7 | May 20, 2023 | $740.42 | $28,747.67 | $106.61 | $28,113.86 | $28,747.67 | $633.81 | $28,113.86 | $740.42 | |
| 8 | Jun 20, 2023 | $740.42 | $28,113.86 | $104.26 | $27,477.70 | $28,113.86 | $636.16 | $27,477.70 | $740.42 | |
| 9 | Jul 20, 2023 | $740.42 | $27,477.70 | $101.90 | $26,839.18 | $27,477.70 | $638.52 | $26,839.18 | $740.42 | |
| 10 | Aug 20, 2023 | $740.42 | $26,839.18 | $99.53 | $26,198.29 | $26,839.18 | $640.89 | $26,198.29 | $740.42 | |
| 11 | Sep 20, 2023 | $740.42 | $26,198.29 | $97.15 | $25,555.02 | $26,198.29 | $643.27 | $25,555.02 | $740.42 | |
| 12 | Oct 20, 2023 | $740.42 | $25,555.02 | $94.77 | $24,909.37 | $25,555.02 | $645.65 | $24,909.37 | $740.42 | |
| 13 | Nov 20, 2023 | $740.42 | $24,909.37 | $92.37 | $24,261.32 | $24,909.37 | $648.05 | $24,261.32 | $740.42 | |
| 14 | Dec 20, 2023 | $740.42 | $24,261.32 | $89.97 | $23,610.87 | $24,261.32 | $650.45 | $23,610.87 | $740.42 | |
| 15 | Jan 20, 2024 | $740.42 | $23,610.87 | $87.56 | $22,958.01 | $23,610.87 | $652.86 | $22,958.01 | $740.42 | |
| 16 | Feb 20, 2024 | $740.42 | $22,958.01 | $85.14 | $22,302.73 | $22,958.01 | $655.28 | $22,302.73 | $740.42 | |
| 17 | Mar 20, 2024 | $740.42 | $22,302.73 | $82.71 | $21,645.02 | $22,302.73 | $657.71 | $21,645.02 | $740.42 | |
| 18 | Apr 20, 2024 | $740.42 | $21,645.02 | $80.27 | $20,984.87 | $21,645.02 | $660.15 | $20,984.87 | $740.42 | |
| 19 | May 20, 2024 | $740.42 | $20,984.87 | $77.82 | $20,322.27 | $20,984.87 | $662.60 | $20,322.27 | $740.42 | |
| 20 | Jun 20, 2024 | $740.42 | $20,322.27 | $75.36 | $19,657.21 | $20,322.27 | $665.06 | $19,657.21 | $740.42 | |
| 21 | Jul 20, 2024 | $740.42 | $19,657.21 | $72.90 | $18,989.69 | $19,657.21 | $667.52 | $18,989.69 | $740.42 | |
| 22 | Aug 20, 2024 | $740.42 | $18,989.69 | $70.42 | $18,319.69 | $18,989.69 | $670.00 | $18,319.69 | $740.42 | |
| 23 | Sep 20, 2024 | $740.42 | $18,319.69 | $67.94 | $17,647.21 | $18,319.69 | $672.48 | $17,647.21 | $740.42 | |
| 24 | Oct 20, 2024 | $740.42 | $17,647.21 | $65.44 | $16,972.23 | $17,647.21 | $674.98 | $16,972.23 | $740.42 | |
| 25 | Nov 20, 2024 | $740.42 | $16,972.23 | $62.94 | $16,294.75 | $16,972.23 | $677.48 | $16,294.75 | $740.42 | |
| 26 | Dec 20, 2024 | $740.42 | $16,294.75 | $60.43 | $15,614.76 | $16,294.75 | $679.99 | $15,614.76 | $740.42 | |
| 27 | Jan 20, 2025 | $740.42 | $15,614.76 | $57.90 | $14,932.24 | $15,614.76 | $682.52 | $14,932.24 | $740.42 | |
| 28 | Feb 20, 2025 | $740.42 | $14,932.24 | $55.37 | $14,247.19 | $14,932.24 | $685.05 | $14,247.19 | $740.42 | |
| 29 | Mar 20, 2025 | $740.42 | $14,247.19 | $52.83 | $13,559.60 | $14,247.19 | $687.59 | $13,559.60 | $740.42 | |
| 30 | Apr 20, 2025 | $740.42 | $13,559.60 | $50.28 | $12,869.46 | $13,559.60 | $690.14 | $12,869.46 | $740.42 | |
| 31 | May 20, 2025 | $740.42 | $12,869.46 | $47.72 | $12,176.76 | $12,869.46 | $692.70 | $12,176.76 | $740.42 | |
| 32 | Jun 20, 2025 | $740.42 | $12,176.76 | $45.16 | $11,481.50 | $12,176.76 | $695.26 | $11,481.50 | $740.42 | |
| 33 | Jul 20, 2025 | $740.42 | $11,481.50 | $42.58 | $10,783.66 | $11,481.50 | $697.84 | $10,783.66 | $740.42 | |
| 34 | Aug 20, 2025 | $740.42 | $10,783.66 | $39.99 | $10,083.23 | $10,783.66 | $700.43 | $10,083.23 | $740.42 | |
| 35 | Sep 20, 2025 | $740.42 | $10,083.23 | $37.39 | $9,380.20 | $10,083.23 | $703.03 | $9,380.20 | $740.42 | |
| 36 | Oct 20, 2025 | $740.42 | $9,380.20 | $34.78 | $8,674.56 | $9,380.20 | $705.64 | $8,674.56 | $740.42 | |
| 37 | Nov 20, 2025 | $740.42 | $8,674.56 | $32.17 | $7,966.31 | $8,674.56 | $708.25 | $7,966.31 | $740.42 | |
| 38 | Dec 20, 2025 | $740.42 | $7,966.31 | $29.54 | $7,255.43 | $7,966.31 | $710.88 | $7,255.43 | $740.42 | |
| 39 | Jan 20, 2026 | $740.42 | $7,255.43 | $26.91 | $6,541.92 | $7,255.43 | $713.51 | $6,541.92 | $740.42 | |
| 40 | Feb 20, 2026 | $740.42 | $6,541.92 | $24.26 | $5,825.76 | $6,541.92 | $716.16 | $5,825.76 | $740.42 | |
| 41 | Mar 20, 2026 | $740.42 | $5,825.76 | $21.60 | $5,106.94 | $5,825.76 | $718.82 | $5,106.94 | $740.42 | |
| 42 | Apr 20, 2026 | $740.42 | $5,106.94 | $18.94 | $4,385.46 | $5,106.94 | $721.48 | $4,385.46 | $740.42 | |
| 43 | May 20, 2026 | $740.42 | $4,385.46 | $16.26 | $3,661.30 | $4,385.46 | $724.16 | $3,661.30 | $740.42 | |
| 44 | Jun 20, 2026 | $740.42 | $3,661.30 | $13.58 | $2,934.46 | $3,661.30 | $726.84 | $2,934.46 | $740.42 | |
| 45 | Jul 20, 2026 | $740.42 | $2,934.46 | $10.88 | $2,204.92 | $2,934.46 | $729.54 | $2,204.92 | $740.42 | |
| 46 | Aug 20, 2026 | $740.42 | $2,204.92 | $8.18 | $1,472.68 | $2,204.92 | $732.24 | $1,472.68 | $740.42 | |
| 47 | Sep 20, 2026 | $740.42 | $1,472.68 | $5.46 | $737.72 | $1,472.68 | $734.96 | $737.72 | $740.42 | |
| 48 | Oct 20, 2026 | $740.42 | $737.72 | $2.70 | $0.00 | $737.72 | $737.72 | $0.00 | $740.42 | |
| Totals | $35,540.16 | $3,038.49 | $32,501.67 | $0.00 | $35,540.16 | |||||
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 | $740.42 | |
| Operating Lease Liability | Lease liability reduction | $619.89 | |
| Cash / Accounts Payable | Lease payment | $740.42 | |
| ROU Asset - Operating Leases | ROU amortization | $619.89 | |
| In balance | $1,360.31 | $1,360.31 | |