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is not reflected on the financial statements the Jacobsens
completed in 1986. We conclude that the Jacobsens’ 1986 net
worth should not include Mrs. Jacobsen’s inheritance.
g. Mr. Del Bosque’s Shares of Fidelity Growth
Fund
On January 16, 1987, Mr. Del Bosque purchased 234 shares of
Fidelity Growth Fund for $3,320. On April 22, 1987, he sold
those shares for $3,756 and purchased 1 share for $16. On
January 22, 1988, he sold the remaining share for $13. The
original 234 shares with a value of $3,320 (rather than the 1
share with a value of $16) were shown as an asset in Mr. Del
Bosque’s 1987 net worth calculation.
Respondent agrees that Mr. Del Bosque’s 1987 net worth
should include only 1 share of Fidelity Growth Fund with a value
of $16. Therefore, the assets included in the 1987 net worth
statement should be reduced by $3,304 ($3,320 - $16).
h. Mr. Del Bosque’s Debt to Larson Quinn Motor
Co.
At the end of 1987, Mr. Del Bosque owed $3,921 to Larson
Quinn Motor Co. The loan was repaid in 1988. The loan was not
included as a liability in the 1987 net worth computation but was
included as a liability in the 1988 net worth computation.
Respondent concedes that the $3,921 debt should be shown as a
liability on the 1987 net worth statement and excluded from the
1988 net worth statement.
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