- 62 -
P.K. Ventures, Inc. and $107,978 to companies affiliated with
P.K. Ventures, Inc.” On the Statement of Financial Condition
included in PKVI LP’s audited financial statements for the year
ended December 31, 1989, $556,624 “Due to affiliated company” was
listed as a liability.
No direct references were made and no explanations were
provided in PKVI LP’s Form 1065 for 1989 as to the amounts that
PKVI LP received from PK Ventures, TBPC, or TPTC during that
year. On the Schedule L attached to PKVI LP’s Form 1065 for
1989, $556,624 “Due to Affiliated Company” was listed under
“Other current liabilities” as of the end of that year. There
were no amounts separately identified as interest payments made
and/or imputed by PKVI LP to PK Ventures, TBPC, or TPTC on its
Form 1065 for 1989.
No direct references were made and no explanations were
provided in PK Ventures, TBPC, or TPTC’s financial statements for
the year ended December 31, 1989, as to the amounts that
PK Ventures, TBPC, and TPTC transferred to PKVI LP during that
year.
On the Schedule L attached to PKV&S’s consolidated income
tax return for 1989, PK Ventures and its subsidiaries reported
$556,624 due from PKVI LP under “Other assets” as of the end of
that year. There were no amounts separately identified as
interest payments received and/or imputed by PK Ventures, TBPC,
Page: Previous 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 NextLast modified: May 25, 2011