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Appendix
Net Worth Computation
Assets: 12/31/86 12/31/87 12/31/88 12/31/89 12/31/90
Cash on hand $5,000.00 $5,000.00 $5,000.00 $5,000.00 $24,000.00
Balance in bank accounts 129,884.69 150,593.57 166,477.42 219,350.78 241,174.21
Automobiles 15,333.41 43,865.29 44,929.79 92,297.20 62,358.87
Real estate 52,500.00 52,500.00 52,500.00 52,500.00 52,500.00
Loan receivable--C. OWCA -0- -0- 10,000.00 10,000.00 10,000.00
Total assets 202,718.10 251,958.86 278,907.21 379,147.98 390,033.08
Liabilities:
Charge cards–-VISA 311.23 1,504.43 1,192.36 -0- 2,237.27
Total liabilities 311.23 1,504.43 1,192.36 -0- 2,237.27
Net worth 202,406.87 250,454.43 277,714.85 379,147.98 387,795.81
Net worth at beginning of year N/A 202,406.87 250,454.43 277,714.85 379,147.98
Change in net worth N/A 48,047.56 27,260.42 101,433.13 8,647.83
Add:
Personal living expenses N/A 15,739.85 21,587.60 35,340.02 24,700.10
Nondeductible losses (vehicles) N/A -0- 952.50 1,662.50 15,628.09
Balance N/A 63,787.41 49,800.52 138,435.65 48,976.02
Less:
Gross income reported–-H. Unger N/A (6,413.00) (12,335.00) (16,805.00)
(16,138.00)
Depreciation expenses N/A (800.00) (800.00) (800.00) (800.00)
Understatement of rental
expense N/A (2,843.00) (1,430.00) (1,733.20) -0-
Nontaxable sources N/A (20,046.56) (10,588.87) (10,488.73) (13,999.55)
Understatement of income N/A 33,685.00 24,647.00 108,609.00
18,038.00
(rounded)
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Last modified: May 25, 2011