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Statement of Financial Condition included in PKVI LP’s audited
financial statements for the year ended December 31, 1986, and as
“Mortgages, notes, and bonds payable in 1 year or more” on the
Schedule L attached to PKVI LP’s Form 1065 for 1986.
As of December 31, 1987, PKVI LP had loan agreements
outstanding with First Fidelity, Liberty Life, MGFP, and Trio
Manufacturing Co. (Trio) as follows:
Outstanding
Interest Principal Balance
Lender Maturity Date Rate as of 12/31/87
First Fidelity Feb. 1, 1988 10.50% $320,000
First Fidelity Feb. 1, 1988 10.25 15,000
Liberty Life Dec. 1, 1998 10.50 645,318
MGFP July 1, 1988 10.00 328,500
Trio Mar. 12, 1988 10.00 517,500
As of that date, the outstanding principal balances of the
transfers associated with these agreements totaled $1,826,318.
Of this $1,826,318, $1,213,953 was listed as a current
liability on the Balance Sheet included in PKVI LP’s audited
financial statements for the year ended December 31, 1987, and as
“Mortgages, notes, and bonds payable in less than 1 year” on the
Schedule L attached to PKVI LP’s Form 1065 for 1987. The balance
of this amount was listed as a long-term liability on the Balance
Sheet included in PKVI LP’s audited financial statements for the
year ended December 31, 1987, and as “Mortgages, notes, and bonds
payable in 1 year or more” on the Schedule L attached to
PKVI LP’s Form 1065 for 1987.
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