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Carlco TMT BWK, Inc.
Investment in Sherwood
Opening balance – – –
Sherwood Associates $41,400 $41,400 $9,200
Rec. int. Sherwood from IRA 1 1 1
Rec. K-1 activity (119,116) (119,116) (26,470)
Paid-in Capital (77,715) (77,715) (17,269)
Rec. int. Sherwood from IRA 1 1 1
d. 1984 Distributions to Carlco, TMT, and BWK, Inc. as
Reflected on the Books of the Corporations
The transfers of cash to Carlco, TMT, and BWK, Inc., were
recorded on the books of the corporations as, respectively,
contributions of capital. The distribution of the Essex
partnership interest was recorded as paid-in capital of $20,377
each to Carlco and TMT and $4,528 to BWK, Inc. The distribution
of the Sherwood partnership interest was recorded as paid-in
capital of $1 each to Carlco, TMT, and BWK, Inc. Additionally, a
receivable of $148 for the preferred shares of each of Carlco,
TMT, and BWK, Inc. was treated as paid-in capital of each
corporation. Thus, amounts recorded as additions to capital
during 1984 and total paid-in capital at the close of 1984 for
each of the corporations were as follows (balance differences are
due to rounding):
Item Carlco TMT BWK, Inc.
Cash $1,870,535 $1,870,535 $415,674
Essex distribution (39,971) (39,971) (8,882)
Essex partnership 20,377 20,377 4,528
Sherwood partnership 1 1 1
Receivable 148 148 148
Consent dividend 105,202
Total 1984 additions 1,851,091 1,956,294 411,470
Paid in capital
Beginning year 7,398 7,398 7,398
End year 1,858,489 1,963,691 418,868
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