- 213 - Fiscal Cash Current Assets Total Year on Hand (Notes Receivable) Assets 6-30-83 $77,735 $ 998,118 $1,117,457 6-30-84 23,941 4,501,125 4,577,701 6-30-86 55,821 4,365,144 4,512,704 Some of Administration Co.'s receivables represented money distributed to Kanter or trusts for the benefit of his family. For example, in 1984, Administration Co. distributed $660,000 to Kanter that was recorded as a receivable. Administration Co.'s trial balance for the twelve months ended 6/30/84 reflects the following notes receivable from Kanter and his grantor trusts: Entity Amount Everglades Trust 1-5 $23,595 Everglades Trust 2 1,000 Everglades Trust 3 1,000 Everglades Trust 4 1,000 Kanter, Burton W. 660,845 Total $687,440 As of January 1, 1987, Kanter's general ledger indicated that Administration Co. had distributed a total of $1,056,751 to him. By the end of Administration Co.'s fiscal year ended June 30, 1987, its total assets were as follows: Fiscal Cash Current Assets Total Year on hand (Notes Receivable Assets 6-30-87 $ 100 $6,929 $63,880 Administration Co.'s return for the year ended June 30, 1987, was the last return filed for Administration Co. Although the receivables on Administration Co.'s books decreased, as of October 31, 1987, Kanter still had an outstanding loan from Administration Co. in the amount of $1,346,641.Page: Previous 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 Next
Last modified: May 25, 2011