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Assets Value
Savings accounts and/or certificates $103,337
Checking accounts 10,021
Investment in dealership 1,328,800
Real estate 2,277,476
Home furnishings 125,000
Total assets 3,844,634
The real estate assets were broken down as follows:
Real Estate Acquisition Cost Accumulated Depreciation Net Book Value Value
Personal residence $405,000 -- -- $405,000
Fox Field Bldg. 423,321 $116,775 $306,546 --
Fox Field equip. 72,000 45,530 26,470 --
El Monte Bldg. 793,279 187,201 606,078 --
El Monte Bldg. 8,000 1,467 6,533 --
points
Subtotal -- -- -- 945,627
CRV 721,000 721,000 -- -0-
WASU rental, 40,000 -0- 40,000 --
land
WASU rental, 185,000 23,825 161,175 --
rental
Subtotal -- -- -- 201,175
Ford dealership:
land 111,334 -0- 111,334 --
bldg. 684,009 69,669 614,340 --
computer 52,496 52,496 -0- --
Subtotal -- -- -- 725,674
Real estate
total -- -- -- 2,277,476
The second joint net worth schedule listed the following
liabilities:
Liabilities Value
Unsecured bank loans $71,028
Secured loans 471,000
Taxes payable 619,220
Real estate loans:
First Union Mortgage 401,782
CA-Jon Hangar project loan 591,140
CRV 1,712,094
Havasu rental 160,387
Antelope Valley Ford & Shuttle
Lincoln-Mercury facilities loan 3,709,959
Total liabilities 7,736,610
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Last modified: May 25, 2011