- 158 - Application of Funds: Schedule C expenditures $630 Expenditures adjusted per audit 10,596 First Union savings account ending balance 397 First Union CDs ending balance 6,236 First Union IRA-Larry 1,000 First Union IRA-Nancy 582 U.S Savings bonds purchases 7,500 Callahan Property payments 2,400 Allendale Property payments 4,500 Suburban purchase 17,257 Note payments 584 Personal living expenses for 4 persons 17,065 Total application of funds 68,747 Excess of applications over sources of funds $29,835 1985 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 300 Ferrari purchase (titled to Larry and Frank) 38,447 GMAC note payments for Suburban 3,504 Personal living expenses for 4 persons 18,709 Total application of funds 127,788 Excess of applications over sources of funds $50,012Page: Previous 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 Next
Last modified: May 25, 2011