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Ronnie Johnson
Source of Funds:
Schedule C gross receipts $17,575
Trade in for 1983 Porsche 18,000
Total source of funds 35,575
Application of Funds:
Schedule C deductions $9,158
Rent and security deposit 12,075
Porsche (1985) purchase 28,826
Personal living expenses for 2 persons 122,056
Less: Housing costs 1$3,873
Vehicle acquisition costs 11,833 (5,706)
Total application of funds 66,409
Excess of applications over sources of funds $30,834
1Petitioners do not agree with the amounts reflected for
these items.
Sylvia Johnson
Source of Funds:
Loan from First Union Bank $22,300
Application of Funds:
Corvette (1985) purchase 27,875
Note payments 2,980
Personal living expenses for 1 person 113,353
Less: Vehicle acquisition costs 1(1,046)
Total application of funds 43,162
Excess of applications over sources of funds $20,862
1Petitioners do not agree with the amounts reflected for
these items.
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