LEASE FORM Submit via Bill.com IACPA CLIENT/LESSEE NAME: LESSOR INFORMATION Today’s Date: LEASE INFORMATION Lessor/Vendor Name:__________________________________ Lease Start Date:________________ Address: ___________________________________________ Lease End Date:_________________ City, State, Zip: ______________________________________ Lease Term in Months: ____________ Point of Contact: _____________________________________ Lease Payment/Month:____________ Contact Email: _______________________________________ Interest Rate (if any):_____________ Contact Telephone: ___________________________________ Bargain Purchase Option:__________ Account Number: _____________________________________ Lease Classification: Operating Lease Capital Lease Capital or Operating Lease Criteria Per ASC 840-10 No. Check if “Yes” ASC 840-10 Leases, if ANY of the 4 is YES then lease is a capital lease. 1 Does ownership transfer at the end of the lease to the Lesee? 2 Does lease have a purchase option? 3 Does lease term equal to 75% or more of economic life of property AND beginning of lease term not in last 25% of economic life? 4 Does Present Value of minimum lease payments equal to or is greater than 90% of lessor fair value of asset? *Use incremental borrowing rate of lessee unless rate is available. If any of above 4 is yes, then lease is a capital lease. Complete “Capital Lease Information” section below. Capital Lease Information Asset Type: Furniture & Fixtures Computers & Office Equipment Autos and Trucks Machinery Building (Land $____________) Intangible Asset Other Asset: ___________________________ Total Asset Value/Purchase Price: _________________________ Asset Number: _______________________________________ Useful Life (Years):____________________________________ Asset Description Additional Comments