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

RÉPONSE

10 fév. 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?

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Disqus Agexpert Accounting Questions Archive