- This topic has 1 reply, 2 voices, and was last updated 9 years, 7 months ago by
.
-
Topic
-
Hi All! I have a capital Lease question that I can’t see to figure out.
A capital lease was recorded on 2/28/15 with 5 annual scheduled payments and payment scheduled for every July 1 starting with the 1st payment already made on 7/1/15 and next scheduled for 7/1/16 and so on. Should the Short Term Liability portion shown on the Balance sheet on 5/31/16 be 79,809.08 and the Long Term Liability portion on the Balance sheet be the remainder of the 3 principle portion of the payments scheduled combined (80,820.18 + 81,844.09 + 81,830.92)?
Amortization schedule, Principal portion of payment 1: 78,810.66 (paid 7/1/15) Principal portion of payment 2: 79,809.08 (unpaid) Principal portion of payment 3: 80,820.18 (unpaid) Principal portion of payment 4: 81844.09 (unpaid) Principal portion of payment 5: 81,830.92 (unpaid)
Thank you so much!
- The topic ‘Capital Lease Question’ is closed to new replies.
