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Operating Lease Vs Capital Lease - Excel

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Operating Lease Vs Capital Lease - Excel Powered By Docstoc
					                                                               Capital Lease Versus Operating Lease Test

Department name and appropriation-level dept ID:
Contact person name and telephone:

Indicates calculated field
Mandatory Field
Complete if indicated in lease documentation


  Lease /        Asset                                                                        Bargain                     Est.          Total        FMV of
 Property       Module                                                         Title Xfer at Purchase        Lease     Economic       Principal  Leased Equip.   Capital or Operating
 Schedule       Asset ID    Lease Term                                            End of     Option?        Term in    Useful Life   Pmts Over      at Lease      Lease? (Calculated
    No.           No.     Commence Date         Description                   Lease? (Y/N)     (Y/N)        Months     in Months     Lease Term    Inception             Field)
        268           599    10/8/2004  Caterpillar #420-D                           N           N               36            60        $26,500        $30,000 Operating Lease




Instructions:
1. Overwrite the first record which is provided as a sample.
2. Enter values in the mandatory fields (green highlight) are entered and the optional fileds (peach highlighted), if available.
3. The results of the test will display in the last column.
4. Highlight the basis of your answers to the above test criteria on the source documents.
5. For each capital lease, attach this schedule and the lease/property schedule agreements as support to Form AM-5.




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