Community Forum Portal/Portail du forum communautaire
Add a new Question Subscribe
Status Answered
Categories AgExpert Accounting AgExpert Analyst
Created by AgExpert Support
Created on Mar 1, 2017

RELATED QUESTIONS

Disqus Agexpert Accounting Questions Archive

Im struggling and looking for guidance as to how to enter the following trailer lease properly

sub total: 27380.00
recycle fee: 20.00
GST: 1370.00
Deposit via Visa :1000.00

lease term :48
rate 9.5
payment amount: 4018.18
semi-annual
cash value of equipment 27400.0
arrangement fee : 250.00
implicit finance charge 4995.44
annual percentage rate 10.070%
total lease cost : 32395.44

first payment made :

4695.00 (1000.00 deposit, 4018.18 payment + GST and PST 401.82, arrangement fee 250.00 + 25.00 gst and pst)

thanks

  • ADMIN RESPONSE
    Feb 10, 2025

    Hi KKH, just need to confirm something quick. Your intention during the course of the lease term is to post your semi-annual payments as expense?

  • Attach files