Inverworld, Inc., et al. - Page 203

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                  For taxable year ended June 30, 1986, the Deloitte                                      
            workpapers provide no indication regarding the specific income                                
            items taken as audit samples.                                                                 
                  For taxable year ended June 30, 1987, audit samples                                     
            included:  (1) $24,152 for Letters of Credit, which has been                                  
            recategorized to "Letters of Credit", (2) $22,443 for Other                                   
            Income, (3) $6,866 for Wire and Check Fees, which has been                                    
            recategorized to "Wire and Check Fees", and (4) $2500 for                                     
            Commissions and Fees.                                                                         
                  For taxable year ended June 30, 1988, the four items taken                              
            as samples for Deloitte's audit were:  (1) Interest earned on the                             
            sale of TVA, Inc. stock when the customer committed to buy the                                
            stock but did not pay for it for several months, (2) commissions                              
            on the sale of Lombard positions, (3) gain from the sale of                                   
            Arabian horses, and (4) fees from guaranteeing a line of credit                               
            for a client.                                                                                 
                  For taxable year ended June 30, 1989, the three items taken                             
            as samples for Deloitte's audit were:  (1) A reversal of excess                               
            interest paid to a client in a prior year, (2) a reversal of                                  
            interest paid to a customer in error (with the end result of                                  
            canceling out the item initially listed as an interest expense),                              
            and (3) revenue received for assisting a client in taking a                                   
            special tax election.  The gross receipts and direct costs                                    
            relating to LTD’s "Other Income" for each taxable year are as                                 
            follows:                                                                                      




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