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Forklifts, $1 buyout Finance lease Sample

Equipment, leased from Valley Equipment Finance. Commenced Oct 1, 2025, ends Oct 1, 2030.

Term
60 months, paid in arrears
Discount rate
8.00%
Liability at commencement
91,239.77
ROU at commencement
91,239.77
Amortized over
120 months

Entries dated in Jan 1, 2026 to Sep 30, 2026.

Period 3, Jan 1, 2026Trace to schedule line
AccountDebitCredit
Interest expense — finance lease591.65
Amortization expense — ROU asset760.33
Accumulated amortization — ROU asset760.33
Cash1,850.00
Lease liability — finance1,258.35
Period 4, Feb 1, 2026Trace to schedule line
AccountDebitCredit
Interest expense — finance lease583.26
Amortization expense — ROU asset760.33
Accumulated amortization — ROU asset760.33
Cash1,850.00
Lease liability — finance1,266.74
Period 5, Mar 1, 2026Trace to schedule line
AccountDebitCredit
Interest expense — finance lease574.82
Amortization expense — ROU asset760.33
Accumulated amortization — ROU asset760.33
Cash1,850.00
Lease liability — finance1,275.18
Period 6, Apr 1, 2026Trace to schedule line
AccountDebitCredit
Interest expense — finance lease566.32
Amortization expense — ROU asset760.33
Accumulated amortization — ROU asset760.33
Cash1,850.00
Lease liability — finance1,283.68
Period 7, May 1, 2026Trace to schedule line
AccountDebitCredit
Interest expense — finance lease557.76
Amortization expense — ROU asset760.33
Accumulated amortization — ROU asset760.33
Cash1,850.00
Lease liability — finance1,292.24
Period 8, Jun 1, 2026Trace to schedule line
AccountDebitCredit
Interest expense — finance lease549.15
Amortization expense — ROU asset760.33
Accumulated amortization — ROU asset760.33
Cash1,850.00
Lease liability — finance1,300.85
Period 9, Jul 1, 2026Trace to schedule line
AccountDebitCredit
Interest expense — finance lease540.47
Amortization expense — ROU asset760.33
Accumulated amortization — ROU asset760.33
Cash1,850.00
Lease liability — finance1,309.53
Period 10, Aug 1, 2026Trace to schedule line
AccountDebitCredit
Interest expense — finance lease531.74
Amortization expense — ROU asset760.33
Accumulated amortization — ROU asset760.33
Cash1,850.00
Lease liability — finance1,318.26
Period 11, Sep 1, 2026Trace to schedule line
AccountDebitCredit
Interest expense — finance lease522.95
Amortization expense — ROU asset760.33
Accumulated amortization — ROU asset760.33
Cash1,850.00
Lease liability — finance1,327.05
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