Estate of Frank Johnson - Page 71




                                       - 155 -                                         
          Application of Funds:                                                        
          Freedom Savings Bank #3058417                     4,546                      
          Freedom Savings Bank CD #4006814                 10,327                      
          Cadillac (1986)                                  16,713                      
          Chevy truck (1986)                               13,855                      
          Gifts to Larry                                    168,359                    
          Gifts to Ronnie                                  56,734                      
          Gifts to Sylvia                                  25,928                      
          Personal living expenses for 4 persons           21,025                      
          Total application of funds                    217,487                        
          Excess of applications over sources of funds   $193,387                      
               1Our revisions to Larry’s source and application of funds               
          analysis for this year indicates an excess application of funds              
          of $90,643.  See Appendix L.  Respondent’s Appendix 5 (Frank)                
          uses $68,359 for gifts to Larry for this year even though                    
          respondent shows an excess application of funds for Larry on his             
          source and application of funds analysis for 1988 of $94,067.                
          See Appendices A and G.  We use $68,359 for our revisions to                 
          Frank and Katherine’s source and application of funds analysis               
          for 1988 because, on the basis of Joint Findings of Fact No. 4,              
          we deem the lower amount to be a concession by respondent that               
          such amount is the proper amount to use.                                     
                                         1989                                          
          Source of Funds:                                                             
          Social Security--Frank                           $2,902                      
          Social Security--Katherine                        3,070                      
          Green Cove Springs Sale                          23,978                      
          Gambling income                                   1,002                      
          Interest income                                   2,847                      
          Freedom S&L #3058417                              4,546                      
          Freedom S&L CD #4006814                          10,327                      
          Total source of funds                          48,672                        
          Application of Funds:                                                        
          Freedom Savings Bank #3058417                     1,939                      
          Glendale Federal #601219-0                       39,919                      
          Corvette (1976)                                   7,672                      
          Gifts to Larry                                   10,094                      
          Gifts to Ronnie                                  65,174                      
          Gifts to Sylvia                                  20,648                      
          Personal living expenses for 5 persons           22,243                      
          Total application of funds                    167,689                        
          Excess of applications over sources of funds   $119,017                      





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