问个会计问题, please see inside and thank you in advance!

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!

所有跟帖: 

大家都回家了吗? -liveinca- 给 liveinca 发送悄悄话 liveinca 的博客首页 (0 bytes) () 09/19/2008 postreply 14:58:57

Do you have the book for intermediate financial accounting ? -天真- 给 天真 发送悄悄话 天真 的博客首页 (0 bytes) () 09/19/2008 postreply 15:03:56

No. I havent got enough unit to transfer to 4 year college. -liveinca- 给 liveinca 发送悄悄话 liveinca 的博客首页 (0 bytes) () 09/19/2008 postreply 15:32:00

It is an one dollar option capital lease -跳蚤- 给 跳蚤 发送悄悄话 跳蚤 的博客首页 (67 bytes) () 09/19/2008 postreply 15:18:01

回复:It is an one dollar option capital lease -跳蚤- 给 跳蚤 发送悄悄话 跳蚤 的博客首页 (352 bytes) () 09/19/2008 postreply 15:24:27

Thanks! But I didnt have information about interest rate -liveinca- 给 liveinca 发送悄悄话 liveinca 的博客首页 (65 bytes) () 09/19/2008 postreply 15:31:10

三个条件中只要知道任何两个就可以的出结论了呀 -跳蚤- 给 跳蚤 发送悄悄话 跳蚤 的博客首页 (164 bytes) () 09/19/2008 postreply 15:45:41

Couldnt find the original PO and Invocie so far. That's why -liveinca- 给 liveinca 发送悄悄话 liveinca 的博客首页 (89 bytes) () 09/19/2008 postreply 16:01:45

Thanks again, Will put this in my notes. -liveinca- 给 liveinca 发送悄悄话 liveinca 的博客首页 (0 bytes) () 09/19/2008 postreply 15:37:07

yes it is capital lease. if only for lease schedule, -fanfan88- 给 fanfan88 发送悄悄话 fanfan88 的博客首页 (968 bytes) () 09/19/2008 postreply 18:33:42

in ur case, the FMV is the amount at the invoice -fanfan88- 给 fanfan88 发送悄悄话 fanfan88 的博客首页 (0 bytes) () 09/19/2008 postreply 19:00:43

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