We leased a small equipment from a Finance company.
Lease term is 60 months,
Install payment is $716.33 per month
Purchase amount is $1 at the end of lease.
How do I create lease schedule for this equipment?
I'm kind of thinking that I need further information like Asset life, fair value and interest rate. But I'm sure of that. Can any one help me with this?
Thanks so much!
问个会计问题, please see inside and thank you in advance!
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大家都回家了吗?
-liveinca-
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09/19/2008 postreply
14:58:57
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Do you have the book for intermediate financial accounting ?
-天真-
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09/19/2008 postreply
15:03:56
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No. I havent got enough unit to transfer to 4 year college.
-liveinca-
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09/19/2008 postreply
15:32:00
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It is an one dollar option capital lease
-跳蚤-
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09/19/2008 postreply
15:18:01
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回复:It is an one dollar option capital lease
-跳蚤-
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09/19/2008 postreply
15:24:27
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Thanks! But I didnt have information about interest rate
-liveinca-
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09/19/2008 postreply
15:31:10
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三个条件中只要知道任何两个就可以的出结论了呀
-跳蚤-
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09/19/2008 postreply
15:45:41
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Couldnt find the original PO and Invocie so far. That's why
-liveinca-
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09/19/2008 postreply
16:01:45
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Thanks again, Will put this in my notes.
-liveinca-
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09/19/2008 postreply
15:37:07
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yes it is capital lease. if only for lease schedule,
-fanfan88-
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09/19/2008 postreply
18:33:42
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in ur case, the FMV is the amount at the invoice
-fanfan88-
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09/19/2008 postreply
19:00:43