Estate of Frank Johnson - Page 41




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                                      Appendix D                                       
                           SOURCE AND APPLICATION OF FUNDS                             
                           LARRY, RONNIE, & SYLVIA JOHNSON                             
                                         1985                                          
                                    Larry Johnson                                      
          Source of Funds:                                                             
          Schedule C gross receipts                       $28,500                      
          Schedule E income (rental)                        2,272                      
          Gambling income                                  10,000                      
          Interest income                                     639                      
          First Union Bank savings accounts                   397                      
          First Union CDs                                   6,236                      
          First Union IRA-Larry                             1,000                      
          First Union IRA-Nancy                               582                      
          Trade in for Mercedes                            28,150                      
          Total source of funds                          77,776                        
          Application of Funds:                                                        
          Schedule C expenditures                         $16,201                      
          Schedule E expenditures                           1,094                      
          First Union savings account                       1,495                      
          First Union CDs                                   6,856                      
          First Union IRA-Larry                             3,000                      
          First Union IRA-Nancy                               582                      
          U.S Savings Bonds purchases                         200                      
          Callahan Property payments                        2,400                      
          Chris Craft boat (titled to Larry and Frank)     35,000                      
          Ford truck (1974)                                   300                      
          Ferrari (1982) purchase                          38,447                      
          GMAC note payments for Suburban                   3,504                      
          Personal living expenses for 4 persons             129,972                   
          Less: Housing costs               1$4,817                                    
          Vehicle acquisition costs     13,101       (7,918)                           
          Total application of funds                    131,133                        
          Excess of applications over sources of funds      $53,357                    
               1Petitioners do not agree with the amounts reflected for                
          these items.                                                                 











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