- 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 Next
Last modified: May 25, 2011