Capital Asset Depreciation Schedule Excel by kma38350

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									   $16,500.00 Fair Value
           8.0% Interest Rate
            48 Term in Months
        $690.00 Lease Payment per Month
        $287.19 Executory Costs (Maintenance Contract)
      07/01/06 Lease Start Date
    Lease        Fair Value/PF      Total                      Net                                  Fair Value/PF
   Payment       of Min Lease       Lease       Executory     Lease                                 of Min Lease
     Date         Payments         Payment        Costs      Payment      Interest     Principal     Payments
      07/01/06       $16,500.00       690.00       287.19       402.81       110.00        292.81        16,207.19
                       16,207.19      690.00       287.19       402.81       108.05        294.76        15,912.43
                       15,912.43      690.00       287.19       402.81       106.08        296.73        15,615.70
                       15,615.70      690.00       287.19       402.81       104.10        298.71        15,317.00
                       15,317.00      690.00       287.19       402.81       102.11        300.70        15,016.30
                       15,016.30      690.00       287.19       402.81       100.11        302.70        14,713.60
                       14,713.60      690.00       287.19       402.81        98.09        304.72        14,408.88
                       14,408.88      690.00       287.19       402.81        96.06        306.75        14,102.13
                       14,102.13      690.00       287.19       402.81        94.01        308.80        13,793.33
                       13,793.33      690.00       287.19       402.81        91.96        310.85        13,482.48
                       13,482.48      690.00       287.19       402.81        89.88        312.93        13,169.55
                       13,169.55      690.00       287.19       402.81        87.80        315.01        12,854.54
      07/01/07         12,854.54      690.00       287.19       402.81        85.70        317.11        12,537.42
                       12,537.42      690.00       287.19       402.81        83.58        319.23        12,218.20
                       12,218.20      690.00       287.19       402.81        81.45        321.36        11,896.84
                       11,896.84      690.00       287.19       402.81        79.31        323.50        11,573.34
                       11,573.34      690.00       287.19       402.81        77.16        325.65        11,247.69
                       11,247.69      690.00       287.19       402.81        74.98        327.83        10,919.86
                       10,919.86      690.00       287.19       402.81        72.80        330.01        10,589.85
                       10,589.85      690.00       287.19       402.81        70.60        332.21        10,257.64
                       10,257.64      690.00       287.19       402.81        68.38        334.43         9,923.22
                        9,923.22      690.00       287.19       402.81        66.15        336.66         9,586.56
                        9,586.56      690.00       287.19       402.81        63.91        338.90         9,247.66
                        9,247.66      690.00       287.19       402.81        61.65        341.16         8,906.50
      07/01/08          8,906.50      690.00       287.19       402.81        59.38        343.43         8,563.07
                        8,563.07      690.00       287.19       402.81        57.09        345.72         8,217.35
                        8,217.35      690.00       287.19       402.81        54.78        348.03         7,869.32
                        7,869.32      690.00       287.19       402.81        52.46        350.35         7,518.97
                        7,518.97      690.00       287.19       402.81        50.13        352.68         7,166.29
                        7,166.29      690.00       287.19       402.81        47.78        355.03         6,811.25
                        6,811.25      690.00       287.19       402.81        45.41        357.40         6,453.85
                        6,453.85      690.00       287.19       402.81        43.03        359.78         6,094.07
                        6,094.07      690.00       287.19       402.81        40.63        362.18         5,731.88
                        5,731.88      690.00       287.19       402.81        38.21        364.60         5,367.29
                        5,367.29      690.00       287.19       402.81        35.78        367.03         5,000.26
                        5,000.26      690.00       287.19       402.81        33.34        369.47         4,630.78
      07/01/09          4,630.78      690.00       287.19       402.81        30.87        371.94         4,258.85
                        4,258.85      690.00       287.19       402.81        28.39        374.42         3,884.43
                        3,884.43      690.00       287.19       402.81        25.90        376.91         3,507.51
                        3,507.51      690.00       287.19       402.81        23.38        379.43         3,128.09
                        3,128.09      690.00       287.19       402.81        20.85        381.96         2,746.13
                        2,746.13      690.00       287.19       402.81        18.31        384.50         2,361.63
                        2,361.63      690.00       287.19       402.81        15.74        387.07         1,974.56
                        1,974.56      690.00       287.19       402.81        13.16        389.65         1,584.92
                        1,584.92      690.00       287.19       402.81        10.57        392.24         1,192.67
                        1,192.67      690.00       287.19       402.81          7.95       394.86           797.81
                          797.81      690.00       287.19       402.81          5.32       397.49           400.32
                          400.32      690.00       287.19       402.99          2.67       400.32             0.00

Total                               33,120.00    13,785.12    19,335.06    2,835.06    16,500.00
    1dc591d4-4a91-406b-837a-cd74380cc9f8.xls
    General Accounting



The following entries are made if the capital lease is recorded in a non-proprietary fund.
Non-proprietary funds include all funds except auxiliary enterprises and service departments

                                       Budgeted Operations - Fund Type 11
      (3)     40111 - Equipment Lease Purchase         292.81 (3)   A0901 - Cash on Hand-                     690.00
                                                                   Interfund
              23510 - Contract Maint/Repair            287.19
              28810 - Interest Exp                     110.00


                                               Investment in Plant - FT87
      (1)     A8011 - Equipment                         16,500.00
                                                                    (1)   E1001 - NIP Change in            16,500.00
                                                                         Fixed Assets

      (2)     E1001 - NIP Change in Fixed Assets          16,500.00
                                                                      (2)   B2106 - Capital Lease          16,500.00
                                                                            Payable

      (4)     80511 - Depreciation Exp - Equip               196.43
                                                                      (4)   A8511 - Acc Dep -                 196.43
                                                                            Equipment

      (5)     B2102 - Capital Lease Payable                3,645.46
                                                                      (5)   E1001 - NIP Change in           3,645.46
                                                                            Fixed Assets

      (6)     A8511 - Acc Dep - Equipment                 16,500.00
                                                                      (6)   A8011 - Equipment              16,500.00


                                                                                                                         Amounts (for
                                                                                                                          illustrative
Example                                                                                                                 purposes only)
      (1)    Capitalize Asset in Fixed Assets at the present value of the minimum lease payments or the fair value of         16,500.00
             the leased property, which ever is less.
      (2)    Reclassify the equity (recorded in Banner Fixed Assets when capitalizing the lease) to a capital lease           16,500.00
             liability
      (3)    Make monthly lease payments of principal, interest and executory costs                                             690.00
      (4)    Record depreciation by running monthly depreciation process in Banner Fixed Assets                                  196.43
      (5)    Prepare a JV to record the year end adjustment to Capital Lease Payable for payments made during the              3,645.46
             year
      (6)    Remove asset at lease end when institution does not retain ownership of asset                                    16,500.00




    Printed: 12/3/2010, 7:13 PM                                                                                                           Page 2 of 3
    1dc591d4-4a91-406b-837a-cd74380cc9f8.xls
    General Accounting




The following entries are made if the capital lease is recorded in a proprietary fund.
Proprietary funds pertain to Auxiliary Enterprises (Fund type 2x) and Service Departments (Fund Type 13).

                                          Auxiliary Enterprise - Fund Type 2x
      (1)     A8011 - Equipment                          16,500.00
                                                                   (1)   E1001 - NIP Change in               16,500.00
                                                                        Fixed Assets

      (2)     E1001 - NIP Change in Fixed Assets           16,500.00
                                                                       (2)   B2106 - Capital Lease           16,500.00
                                                                             Payable

      (3)     B2102 - Capital Lease Payable                   292.81 (3)      A0901 - Cash on Hand-              690.00
                                                                             Interfund
              23510 - Contract Maint/Repair                   287.19
              28810 - Interest Exp                            110.00

      (4)     80511 - Depreciation Exp - Equip                196.43
                                                                       (4)   A8511 - Acc Dep -                   196.43
                                                                             Equipment

      (5)     A8511 - Acc Dep - Equipment                  16,500.00
                                                                       (5)    A8011 - Equipment              16,500.00




                                                                                                                           Amounts (for
                                                                                                                            illustrative
 Example                                                                                                                  purposes only)
      (1)    Capitalize Asset in Fixed Assets at the present value of the minimum lease payments or the fair value of           16,500.00
             the leased property, which ever is less.
      (2)    Reclassify the equity (recorded in Banner Fixed Assets when capitalizing the lease) to a capital lease             16,500.00
             liability
      (3)    Make monthly lease payments of principal, interest and executory costs                                               690.00
      (4)    Record depreciation by running monthly depreciation process in Banner Fixed Assets                                    196.43
      (5)    Remove asset at lease end when institution does not retain ownership of asset                                      16,500.00




     Printed: 12/3/2010, 7:13 PM                                                                                                            Page 3 of 3

								
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