Yarbrough Oldsmobile Cadillac, Inc. - Page 24

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                 14,352       Not deducted   YOC automobiles for   No                 
                                             personal use of                          
                                             Elvin, Mrs.                              
                                             Yarbrough, and                           
                                           Buddy                                    
     Total                                                                            
                 $65,487                                                              
                                                                                     
     1984 -- ADDITIONAL PERSONAL EXPENSES OF ELVIN                                    
                 THAT YOC PAID AND CLAIMED AS DEDUCTIBLE BUSINESS EXPENSES            
                                                                                    
                              Recorded on                          Conceded by        
                  Amount      YOC Books As   Benefit to Elvin      Petitioners        
                                                                                     
                 $   312      Repairs        Kitchen improvements  Yes                
                              expense        at Elvin's                               
                                             residence                                
                 1,100        Employee       Buddy's college rent  No                 
                              expense        in North Carolina                        
                 668          Employee       Elvin's medical bill  Yes                
                              expense                                                 
                 3,281        Utility        Utility bills on      Yes                
                              expense        Elvin's residence                        
                 2,179        Company        Gasoline credit cards No                 
                              vehicle        used by Mrs.                             
                              expense        Yarbrough and Buddy                      
                 2,869        Miscella-      Expenses relating to  No                 
                              neous          Sea Ray Boat                             
                              expense                                                 
                 968          Outside        Expenses relating to  No                 
                              services       Sea Ray Boat                             
                              expense                                                 
                 10,600       Salary         Elvin's housekeeper   No                 
                              expense                                                 
                 18,167       Not deducted   YOC automobiles for   No                 
                                             personal use of                          
                                             Elvin, Mrs.                              
                                             Yarbrough, and                           
                                             Buddy                                    
                 915          Depreciation   Depreciation          No                 
                              expense        claimed by YOC on                        
                                             assets used                              
                                             personally by Elvin                      
                 383          Insurance      Insurance on Capriole No                 
                              expense                                                 







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Last modified: May 25, 2011