PU77
financeActive1FT7W2BN9REC56140 - Ford F-250 XLT 4x4 SD Crew Cab 6.75 ft. box 160 in. WB SRW
Flagged for review: Month-1 payment bundles Enterprise "Total Initial Charges" — split into lease payment / IDC / prepayment before activation (architecture §6.4).
Lease terms
- Entity
- Beckenhauer Construction Leasing, LLC (BL)
- Lessor
- Enterprise
- Asset class
- Vehicle
- Asset category
- Vehicle
- Asset ID / serial
- PU 77 · 1FT7W2BN9REC56140
- Commencement
- Mar 6, 2024
- Lease end
- Feb 6, 2028
- Rent commencement
- Mar 6, 2024
- Payment timing
- Arrears · monthly
- Lease term
- 48 base periods
Measurement inputs
- Discount rate
- 4.435% annual (0.37% monthly)
- Rate basis
- Imported from ROU-01 workbook (template cell J24).
- Useful life
- 60 months
- Fair value
- $55,628.08
- Initial direct costs
- $0.00
- Prepayment
- $0.00
- Lease incentive
- $0.00
- Undiscounted payments
- $63,206.59
Classification — ASC 842-10-25-2
Recorded classification: finance (manual override — Classification imported from the ROU-01 workbook.)
✗
(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
Lease term 48mo / useful life 60mo = 80% (guideline 75%).
✓
(d) PV of payments is substantially all of fair value
PV 58942.65 / fair value 55628.08 = 106% (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
- $58,942.65
- + Initial direct costs
- $0.00
- + Prepayment
- $0.00
- + Lease incentive
- $0.00
- = ROU asset
- $58,942.65
- Lease liability
- $58,942.65
Initial journal entry
Posted Mar 6, 2024
| Account | Memo | Debit | Credit |
|---|---|---|---|
| ROU Asset - Finance Leases | Recognize ROU asset at commencement | $58,942.65 | |
| Finance Lease Liability | Recognize lease liability | $58,942.65 | |
| In balance | $58,942.65 | $58,942.65 | |
Amortization schedule
Finance lease: interest on the liability + straight-line amortization of the ROU asset.
| # | Date | Payment | Liability begin | Interest | Liability end | ROU begin | ROU amort. | ROU end | Total expense | Note |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mar 6, 2024 | $14,798.94 | $58,942.65 | $217.84 | $44,361.55 | $58,942.65 | $1,227.97 | $57,714.68 | $1,445.81 | |
| 2 | Apr 6, 2024 | $1,029.95 | $44,361.55 | $163.95 | $43,495.55 | $57,714.68 | $1,227.97 | $56,486.71 | $1,391.92 | |
| 3 | May 6, 2024 | $1,029.95 | $43,495.55 | $160.75 | $42,626.35 | $56,486.71 | $1,227.97 | $55,258.74 | $1,388.72 | |
| 4 | Jun 6, 2024 | $1,029.95 | $42,626.35 | $157.54 | $41,753.94 | $55,258.74 | $1,227.97 | $54,030.77 | $1,385.51 | |
| 5 | Jul 6, 2024 | $1,029.95 | $41,753.94 | $154.32 | $40,878.31 | $54,030.77 | $1,227.97 | $52,802.80 | $1,382.29 | |
| 6 | Aug 6, 2024 | $1,029.95 | $40,878.31 | $151.08 | $39,999.44 | $52,802.80 | $1,227.97 | $51,574.83 | $1,379.05 | |
| 7 | Sep 6, 2024 | $1,029.95 | $39,999.44 | $147.83 | $39,117.32 | $51,574.83 | $1,227.97 | $50,346.86 | $1,375.80 | |
| 8 | Oct 6, 2024 | $1,029.95 | $39,117.32 | $144.57 | $38,231.94 | $50,346.86 | $1,227.97 | $49,118.89 | $1,372.54 | |
| 9 | Nov 6, 2024 | $1,029.95 | $38,231.94 | $141.30 | $37,343.29 | $49,118.89 | $1,227.97 | $47,890.92 | $1,369.27 | |
| 10 | Dec 6, 2024 | $1,029.95 | $37,343.29 | $138.01 | $36,451.35 | $47,890.92 | $1,227.97 | $46,662.95 | $1,365.98 | |
| 11 | Jan 6, 2025 | $1,029.95 | $36,451.35 | $134.72 | $35,556.12 | $46,662.95 | $1,227.97 | $45,434.98 | $1,362.69 | |
| 12 | Feb 6, 2025 | $1,029.95 | $35,556.12 | $131.41 | $34,657.58 | $45,434.98 | $1,227.97 | $44,207.01 | $1,359.38 | |
| 13 | Mar 6, 2025 | $1,029.95 | $34,657.58 | $128.09 | $33,755.72 | $44,207.01 | $1,227.97 | $42,979.04 | $1,356.06 | |
| 14 | Apr 6, 2025 | $1,029.95 | $33,755.72 | $124.76 | $32,850.53 | $42,979.04 | $1,227.97 | $41,751.07 | $1,352.73 | |
| 15 | May 6, 2025 | $1,029.95 | $32,850.53 | $121.41 | $31,941.99 | $41,751.07 | $1,227.97 | $40,523.10 | $1,349.38 | |
| 16 | Jun 6, 2025 | $1,029.95 | $31,941.99 | $118.05 | $31,030.09 | $40,523.10 | $1,227.97 | $39,295.13 | $1,346.02 | |
| 17 | Jul 6, 2025 | $1,029.95 | $31,030.09 | $114.68 | $30,114.82 | $39,295.13 | $1,227.97 | $38,067.16 | $1,342.65 | |
| 18 | Aug 6, 2025 | $1,029.95 | $30,114.82 | $111.30 | $29,196.17 | $38,067.16 | $1,227.97 | $36,839.19 | $1,339.27 | |
| 19 | Sep 6, 2025 | $1,029.95 | $29,196.17 | $107.90 | $28,274.12 | $36,839.19 | $1,227.97 | $35,611.22 | $1,335.87 | |
| 20 | Oct 6, 2025 | $1,029.95 | $28,274.12 | $104.50 | $27,348.67 | $35,611.22 | $1,227.97 | $34,383.25 | $1,332.47 | |
| 21 | Nov 6, 2025 | $1,029.95 | $27,348.67 | $101.08 | $26,419.80 | $34,383.25 | $1,227.97 | $33,155.28 | $1,329.05 | |
| 22 | Dec 6, 2025 | $1,029.95 | $26,419.80 | $97.64 | $25,487.49 | $33,155.28 | $1,227.97 | $31,927.31 | $1,325.61 | |
| 23 | Jan 6, 2026 | $1,029.95 | $25,487.49 | $94.20 | $24,551.74 | $31,927.31 | $1,227.97 | $30,699.34 | $1,322.17 | |
| 24 | Feb 6, 2026 | $1,029.95 | $24,551.74 | $90.74 | $23,612.53 | $30,699.34 | $1,227.97 | $29,471.37 | $1,318.71 | |
| 25 | Mar 6, 2026 | $1,029.95 | $23,612.53 | $87.27 | $22,669.85 | $29,471.37 | $1,227.97 | $28,243.40 | $1,315.24 | |
| 26 | Apr 6, 2026 | $1,029.95 | $22,669.85 | $83.78 | $21,723.68 | $28,243.40 | $1,227.97 | $27,015.43 | $1,311.75 | |
| 27 | May 6, 2026 | $1,029.95 | $21,723.68 | $80.29 | $20,774.02 | $27,015.43 | $1,227.97 | $25,787.46 | $1,308.26 | |
| 28 | Jun 6, 2026 | $1,029.95 | $20,774.02 | $76.78 | $19,820.85 | $25,787.46 | $1,227.97 | $24,559.49 | $1,304.75 | |
| 29 | Jul 6, 2026 | $1,029.95 | $19,820.85 | $73.25 | $18,864.15 | $24,559.49 | $1,227.97 | $23,331.52 | $1,301.22 | |
| 30 | Aug 6, 2026 | $1,029.95 | $18,864.15 | $69.72 | $17,903.92 | $23,331.52 | $1,227.97 | $22,103.55 | $1,297.69 | |
| 31 | Sep 6, 2026 | $1,029.95 | $17,903.92 | $66.17 | $16,940.14 | $22,103.55 | $1,227.98 | $20,875.57 | $1,294.15 | |
| 32 | Oct 6, 2026 | $1,029.95 | $16,940.14 | $62.61 | $15,972.80 | $20,875.57 | $1,227.97 | $19,647.60 | $1,290.58 | |
| 33 | Nov 6, 2026 | $1,029.95 | $15,972.80 | $59.03 | $15,001.88 | $19,647.60 | $1,227.98 | $18,419.62 | $1,287.01 | |
| 34 | Dec 6, 2026 | $1,029.95 | $15,001.88 | $55.44 | $14,027.37 | $18,419.62 | $1,227.97 | $17,191.65 | $1,283.41 | |
| 35 | Jan 6, 2027 | $1,029.95 | $14,027.37 | $51.84 | $13,049.26 | $17,191.65 | $1,227.98 | $15,963.67 | $1,279.82 | |
| 36 | Feb 6, 2027 | $1,029.95 | $13,049.26 | $48.23 | $12,067.54 | $15,963.67 | $1,227.97 | $14,735.70 | $1,276.20 | |
| 37 | Mar 6, 2027 | $1,029.95 | $12,067.54 | $44.60 | $11,082.19 | $14,735.70 | $1,227.98 | $13,507.72 | $1,272.58 | |
| 38 | Apr 6, 2027 | $1,029.95 | $11,082.19 | $40.96 | $10,093.20 | $13,507.72 | $1,227.97 | $12,279.75 | $1,268.93 | |
| 39 | May 6, 2027 | $1,029.95 | $10,093.20 | $37.30 | $9,100.55 | $12,279.75 | $1,227.98 | $11,051.77 | $1,265.28 | |
| 40 | Jun 6, 2027 | $1,029.95 | $9,100.55 | $33.63 | $8,104.23 | $11,051.77 | $1,227.97 | $9,823.80 | $1,261.60 | |
| 41 | Jul 6, 2027 | $1,029.95 | $8,104.23 | $29.95 | $7,104.23 | $9,823.80 | $1,227.98 | $8,595.82 | $1,257.93 | |
| 42 | Aug 6, 2027 | $1,029.95 | $7,104.23 | $26.26 | $6,100.54 | $8,595.82 | $1,227.97 | $7,367.85 | $1,254.23 | |
| 43 | Sep 6, 2027 | $1,029.95 | $6,100.54 | $22.55 | $5,093.14 | $7,367.85 | $1,227.98 | $6,139.87 | $1,250.53 | |
| 44 | Oct 6, 2027 | $1,029.95 | $5,093.14 | $18.82 | $4,082.01 | $6,139.87 | $1,227.97 | $4,911.90 | $1,246.79 | |
| 45 | Nov 6, 2027 | $1,029.95 | $4,082.01 | $15.09 | $3,067.15 | $4,911.90 | $1,227.98 | $3,683.92 | $1,243.07 | |
| 46 | Dec 6, 2027 | $1,029.95 | $3,067.15 | $11.34 | $2,048.54 | $3,683.92 | $1,227.97 | $2,455.95 | $1,239.31 | |
| 47 | Jan 6, 2028 | $1,029.95 | $2,048.54 | $7.57 | $1,026.16 | $2,455.95 | $1,227.98 | $1,227.97 | $1,235.55 | |
| 48 | Feb 6, 2028 | $1,029.95 | $1,026.16 | $3.79 | $0.00 | $1,227.97 | $1,227.97 | $0.00 | $1,231.76 | |
| Totals | $63,206.59 | $4,263.94 | $58,942.65 | $0.00 | $63,206.59 | |||||
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 |
|---|---|---|---|
| Interest Expense | Interest accretion | $217.84 | |
| Finance Lease Liability | Interest accretion | $217.84 | |
| Finance Lease Liability | Lease payment | $14,798.94 | |
| Cash / Accounts Payable | Lease payment | $14,798.94 | |
| Amortization of ROU Asset | ROU amortization | $1,227.97 | |
| Accumulated Amortization - Finance ROU | ROU amortization | $1,227.97 | |
| In balance | $16,244.75 | $16,244.75 | |