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I'ETITION FOH I'HOIIATE allll GHANT OF LETrEHS
No, aLl - C; (0 - ,j-<-/ 1
E.lllIft 01
nl,\() AIlOII'IlIlS
NANA I':. WIIAY
To:
._____.. Hegisler of Wills lot Ihe
. /Jrcrn"ed, CUll Illy uf ..c.umbc r lanL.. In Ihe
Sorial Su",il)' No, 526-18-5.669 Commollwenllh of l'ell:lsyll'nnln
The pelillon of Ihe nlldelsiglled respeclfllll)' rCj1JesenlS Ihnl:
YOIII peliliollel(s), whu it/me IR )'eals "f nge or oldet nnlhe e,seenl ors
inlhe Insl will of Ihe nhol'e decedelll, dnled I'ebnld ry 24.
nml codicil(s) dalcd
named
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t\I:\I(' reln:"'1 dIWlll\lilllC('\, f.l(. ItIltlllcinliull, dCillh III tJ.CCIJlor, flc.'
Oecedent WIIS domiciled nl dcnlh ill
h er Ins I fnmily or principnllesidellce nl
Cumberland Counly, I'ellllsylvnnln, wllh
421 A]lenda1e Way
Lowpr Al1pn TownRhip
lIi~l ~tlrt.l, IHlIlIIll'f, '1'''"11. tit lIU1u.)
Oecedellt, thell_~ yenrs uf n,:e, died May 15, ,1996
m 42] A11endd1e Way
Excepl ns follows, de~edenl did notmnl I)', wns 1101 dil'orced nml did nollml'e n child hom at ndopled
nller exeeullon of Ihe will of/eled for l1Johnle: was nullhe I'iclim uf n killillg alld was nel'et ndjudicaled
Incompelenl:
Decedelll al dealh oW/led propcrry with e:,limllled I'alues ns fulloll's:
(If domiciled illl'a,) All pmunal pl\1pell)' S 375,000.00
(If nol domiciled in I'n,) l'e1501",111Iopelly in l'ellllSyll'allla S
(If 1101 domiciled ill I'a,) I'ersonalplopell)' in COli Illy S
Vnlue of tenl eslale In l'elllls)'ll'allia S 125.000.00
silualed ns follull's:
421 A11endale Way, Lower Allen Townshlp
Cumberland County, Pennsylvanla
WHEREFORE, pelitione.(s) rcspeclllllly
p.esenled hetell'ilh nnd lhe glallt of lellers
lhelon,
leqlle5l(s) Ihe prohale of the lasl will and eodicil(s)
Testamentarv
(Icsl:lll1eIlI:U)': administration c.t...; adminisUatlon d.b.n.t.l...)
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~ ~ . ! Nand E. \~rdY fJpStpf"nn
"0,2 221 G1enside Lane
;~ Camp Hill. PA 17011
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w111iam A. WrdY. Jr.
91 Sky1;np nr;vp
Mprhrln;r~hl1r~1 P^ 17n~~
OATIl OF l'E1tSONAL HEI'HESENTATlVE
COMMONWEALTH 01' PENNSYLVANIA 1. ss
COUNTY 01. CUMBER1.AND J
/:j-- }13- It}
The pelitiolle.(s) nbol'e,,,all1ell swem(s) or nf/irlll(s) Ihat Ihe slalemel1ls inlhe foregoing l'elitioll me
I.lle nlld ClJltecllo Ihe hesl "f Ihe kllowledge m.d helief "f Ilelilioller(s) mllllhal ns pelsOl",1 replesen-
lalll'c(s) of the ohol'e lIecedCIII pelitiollel(s) will well alld IIllly adllllnislet the eslnle accolding 10 'all'.
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COllllONWEALTN OF PENNSYLVANIA' OEPARTlIENT OF HEALTH' VITAL RECOROS
CERTIFICATE OF DEATH
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421 Allendale Way
Lower Allen Twp
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Book Kee r ,Music Store
~IWMNJAOOMIII5t''!l.~s...~O:dliI OlClMHT'1
'121 Allendale wsy ~
ramp hill, pa 17011 .;::::-
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SHEARER, METTE, EVANS & WOODSIDE
ATTORNEYI AT LAw
HARRIIIURO, PINNIVLVANIA 17108-0720
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Wast ~l1lill ilUll QJ~5tal1U\ltt
Of
NANA,E, _WRAX
I, NANA E. WRAX, of Lower Allen Township, Cumberland
County, Pennsylvania, do make, publish and declare this to be my
Last Will and Testament, hereby revoking all Wills and Codicils
by me at any time made.
~~_I: I direct that all inheritance and
estate taxes becoming due by reason of my death, whether such
taxes may be payable by my estate or by any recipient of any
property, shall be paid by the Executor out of the property
passing under ITEM IV of this Will. as an expense and cost of
administration of my estate. The Executor shall have no duty or
obligation to obtain reimbur.sement for any such tax so paid.
even though on proceeds of insurance or other property not
passing under this Will.
~: I direct the Executor to pay the
expenses of my last illness and funeral expenses from the
property passing under this Will as an expense and cost of
administration of my estate,
;U'.EtLIU: I give and bequeath to my children
who survive me. or the survivor of them, absolutely and in fee
simple. all of my household furniture and furnishingll, books,
pictures, jewelry. silverware. automobiles, wearing apparel and
all other articles of household or personal use or adornment and
all pOlicies of insurance thereon. to be divided between them as
they shall agree. Should there be no agreement. such property
Page 1
. )lLj}
shall be divided between them by the Executor in as nearly equal
portions as is deemed practical in the sole discretion of the
Executor, having due regard to the personal preferences of such
children.
ITEILIV: I givl~, devise and bequeath all
the rest, residue and remainder of my estate. not disposed of in
the preceding portions of this Will, to my children in equal
shares. If any of my said children is not living at my death,
his or her share shall be paid to the then living issue of said
deceased child, per stirpes; provided, however, that if any then
living issue of said deceased child has not attained the age of
twenty-one (21) years at the time of my death, his or her share
shall be held in trust by my Executor, as Trustee (hereinafter
referred to as "Trustee"). IN TRUST NEVERTHELESS, until said
issue attains the age of twenty-one (21) years, at which time
the Trustee shall distribute to such issue his or her share of
my reGiduary estate. During the term of said Trust. the Trustee
shall quarterly pay to or for the benefit of said issue all of
the net income and so much of the principal of said Trust as. in
the sole discretion of the Trustee, may be necessary to maintain
said issue in the proper station in life, including proper
support, maintenance, medical care and college or higher
education.
If at any time before final
distribution of the assets of any Trust established for issue of
a deceased child, there is no living beneficiary of any said
Trust, the Trust shall terminate, and its assets shall be
divided equally among my then living children and issue of
deceased children, per stirpes, the share of issue of deceased
children to be held in trust for said issue in accordance with
the provisions of this ITEM IV. or added equally to the other
Page 2
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then existent Trusts created herein for the benefit of the issue
of deceased children; provided, that if any Trust herein created
has previously been terminated by payment of its principal to
its beneficiary, said beneficiary who received payment of the
principal of that Trust shall be considered an "existent Trust"
for the purpose of this paragraph, ~nd one equal share shall be
paid directly to such beneficiary, or, if deceased, to his or
her issue, per stirpes,
IIEK-V: In the settlement of my estate and
during the continuance of the foregoing Trusts, the Executor and
the Trustee shall possess, among others, the following powers:
(a) To retain any investments I may have at my
death, including specifically those consisting of
stock of any bank even if I have named such bank as
the Executor or Trustee herein, so long as the
Executor or Trustee may deem it advisable to my estate
, '
so to do.
(b) To vary investments, when deemed desirable
by the Executor or Trustee, and to invest in such
bonds, stocks, notes, real estate mortgages or other
securities or in such other property, real nr
personal, as they shall deem wise, without being
restricted to so-called "legal investments", and
without being limited by any statute or rule of law
regarding investments by fiduciaries.
(c) In order to effect a division of the
principal of a Trust or for any other purpose,
including any final distribution of a Trust, the
Page 3
__IL1.f.J __
Executor or Trustee is authorized to make said
divisions or distributions of the personalty and
realty, partly or wholly in kind, and to allocate
specific assets among beneficiaries and Trusts created
hereunder so long as the total market value of any
share is not affected by such ~ivision, distribution
or allocation in kind, Should it appear desirable to
partition any real estate, the Executor or Trustee is
authorized to make, join in and consummate partitions
of lands, voluntarily or involuntarily, including
giving of mutual deeds, recognizances or other
obligations, with as wide powers as an individual
owner in fee simple.
(d) To sell either at public or private sale and
upon such terms and conditions as the Executor or
Trustee may deem advantageous to the estate or Trust,
any or all real or personal estate or interest therein
owned by the estate or Trust severally or in
conjunction with other persons or acquired after my
death by the Executor or Trustee, and to consummate
said sale or sales by sufficient deeds or other
instruments to the purchaser or purchasers, conveying
a fee simple title, free and clear of all trust and
without obligation or liability of the purchaser or
purchasers to see to the application of the purchase
money or to make inquiry into the validity of said
sale or salesj also, to make, execute, acknowledge and
deliver any and all deeds, assignments, options or
other writings which may be necessary or desirable in
carrying out any of the powers conferred upon the
Executor or Trustee in this paragraph or elsewhere in
my Will,
Page 4
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(k) To do all other acts in their judgment
deemed necessary or desirable for the proper and
advantageous management, investment and distribution
of the estate or Trust,
ITEM_'ll:
Any pl!rson who shall have died at
the same time as I shall have, or in a common disaster with me,
or under such circumstances that the order of our deaths cannot
be established by proof, or within thirty (30) days of my death,
shall be deemed to have predeceased me.
lIEl'LYll :
I hereby nominate, constitute and
appoint my son, WILLIAM A. WRAY, JR., and my daughter, NANA E.
WRAY DeSTEFANO. to be the Executors, herein collectively
referred to as "Executor". The Executor and Trustee are
specifically relieved from the duty or obligation of filing any
bond or other security.
IN WITNESS WHEREOF, I have set my hand and seal to
this. my Last Will and Testament. consisting of this and the
preceding five (5) pages. at the end of each page of which I
have also set my initials for greater security and better
identification this 'J,.. 'f1C.- day of :+~...., ,1989,
-~~ \
__,_.__~lJ~~.~,_L.':_U,:'_"'_~.
NANA E. WRAY
(SEAL)
We, the undersigned, hereby certify that the foregoing
Will was signed. sealed, published and declared by the
above-named Testatrix as and for her Last Will and Testament, in
the presence of us, who, at her request and in her presence and
in the presence of each other, have hereunto set our hands and
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
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ss:
Nana E. \~rilY DeStefano and \~j 11 jam 11. \~ray, Jr.
according to law, de pale. and lay' thatt haY arc Executors
01 tho Estato of Nanil r.. \~rav
lato 01 __J&.Idtl,.1U..lr..GN1:Qwn E hj ~r r' r...mborland County, Pa., decoaled and that tho
ana '. \.lJ...."1 uc::>t:c dllO illfu
within is an invontory mado by \~i 11 ; "m 11 \~rilY, ,Jr. , the said r.xecutors
01 tho entito estato 01 laid docodenl, con lilting of all tho personal p,op.rty and real estate, except real estate outsido
tho Commonwealth 0; i'ennlylvania, and that tho Figurol oppolite each ilom of tho Invontory reprelont it's fair valuo
01 01 the dato of doc.d,'nt'. doath. '/J ,/" l \' I I.
. }Jc} ;(.1 (", (( /u. ~ ;, ..(Jo) Vy/ (C! Ad
Sworn to _ and ,ub.cribod beloro mo, -(NJ\NA E. \'iRAY OeSTEFlING I)
771 G1pnsidp T;m". Camo Hill. PA 17011
Jilrfk::-J0W( ~
being duly
sworn
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9] Skyline Drive, ~~chanicsburg, PA 17055
/odd,... ExecUtors
DIANNE LENIG, Notary Pu6 IC
Lemoyno Borough Cumbell~lld Co,
My Commission E.piICS Dec, 21,1997
Date 01 Doath
15th
Day
May
Month
1996
Year
INSTRUCTIONS (") (") . -n
c: ;7:" \0 :: (::-
I. An invontoty must bo mod wilhin throe months aftor appointment of personal ropri!ehtative':-'
2. A lupplement invenlory must bo Filed within thirty days 01 di.covery of additional a..ets. /:
c::
3. Additional sheet> may bo attached a. to pononally or roally ~
~
4. See Article IV, Fiduciarios Act 0/1'14'1.
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Inventory 01 the real and personal estate of
N/\N/\ E. WR/\Y
deceased
1, 1970 Cadillac Convertible DeVille - appraised value
2. 1988 Cadillac sedan - appraised value
3. Household Goods - appraised value
4. Real Estate _ No. 421 lI11endale \~ay, laNCr 1\11en TaNnship, cumberland
County, Pennsylvania. (Deed lJoOk "0", Volume 19, Page 4271
Appraised value
381.5645 Shares _ BellSouth common @ $40.8125 per share
796 Shares _ Rite Aid Corporation common @ $29.25 per share
1,612 Shares _ Dauphin Deposit Corporation common @ $28.875 per share
732 Shares _ PNC Financial Corp. common @ $30.1875 per share.
360 Shares _ Extar company ( a PA corporation) common @ $ -0-
Dauphin Deposit Bank & Trust company - Checking I\ccount NO. 91-68299-1
Date of death balance, plus accrued interest
Dauphin Deposit Bank & Trust company - Insured Money Market I\ccount
No. 94-03945-3. Date of death balance, plus accrued interest
PNC Ban~, N.A. - Checking Account No. 51-4023-5031.
Date of death balance, plus accrued interest
prudential Securities - Investment Account No. 044-l2l522-K3
100 Shares - AT&T Corp. common @ $63.625 oer share
5038.662 Units _ Fquity Income Trust ~12 @ $1.298 per unit
293.209 Shares _ Investment Co. of America @ $24.58 per share
9 Units _ Municipal Investment Trust Fund MultiState Pennsylvania
~24 @ $1,017.52 per unit
17 Units _ Municipal Investment Trust Fund Units MultiState
Pennsylvania Insured ~76 @ $1,010.17 per unit
prudential command Money Fund - cash
Blue Cross/Blue Shield - premium refund
42.8571 percent interest in Wray's Music House - date of death
value per Schedule c-2 of the Inheritance Tax Return.
6,000 Shares of wray's Music House, Inc. - date of death value
per Schedule c-l of the Inheritance Tax Return
Note of William A. Wray, Jr. - dated IIpril 8, 1996
principal: $50,000.00 Interest: 6% per annum
Date of death value, plus accrued interest.
Decedent's loan to Wray's Music House, Inc.
principal: $2,000.00 Interest: 8% per annum
Decedent's loan to D\~I properties.
principal: $10,000.00 Interest: -0-
5.
6.
7.
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9.
10.
11.
12.
consisting of:\
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13.
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15.
16.
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18.
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500
4,950
5,425
125,000
i5, 572
23,283
46,546
22,097
No
3,238
3,826
1,759
6,362
6,540
7,207
9,157
17,172
4,232
117
117,965
39,300
50,304
10,000
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60
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68
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INHER1lfANcIE IT~X'.RIEJTtRN
RESIDENT DECEDENT
(TO BE FILED IN DUPLICATE
WITH REGISTER OF WILLS)
YEAR:
!"j.u~BER
.OR OAllS Of OIAlH AnlR 1113 I /91 CHICK HIRI
, If A SPOUSAL
POVIRlY CRIOIlIS CLAIMIO '
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I 'o<';';~~;'~~'~~'~~-----'---l" '~~:~;~~---r~~~~-/i;~n ,--
.._____.._~_.____n_-~.----'--..----...---.------
1,1 .,.,'(.1,1, ~." ,,"C.VO~H! '...,' I..~' I':' ...:.. :.... '.'.. ~OCI"I ~tCv~," Ilu...t!~
OlctO".T ~co...n(l( "tl:;~t~~
421 J\lle~L,le Way
Canfl Iii \1, pJ\ 17011
Co,", C.1MI\I'JUJ\ND
. -1""'0'''''' """" I'" ".","Cl'O"'1
C.= 3.
~ 2, Supplemental Relurn
Remainder ReTurn
(for dOl" 01 death prior TO 12.13.82)
Federol E~laTe loll. Return Required
,~
..z:
......
0:",
O:z:
"''''
u..
o 1. Original Return
o 4. Limited Estale [J.4a Future Interelt Compromise
(lor dalos of death altor 12.12.82)
o 6. Decedenl Died Testate U 7. Decedent Maintained a Li\ling lru~t
IAllach copy of Will) (Allach copy of Trust)
ALL CORRESPONDENCE AND CONFIDENTIAL TAX INr-ORMATION SHOULD BE DIRECTED TO:
NAM( ICOM~If1! ...A'lIt.e. "OOR!~~
Ednunc1 G. Myers, Esquire I Johnson, Duffie, Stewart & Weidner
1""'.0'" N"""' I 301 Market St., 1'. O. Ilox 109
717 761-4540 J~, pJ\ 17043-0109
t. Reol E..o.e ISthed"e A} III ___}?~.....o,gO.,~~_____
2, S'oe\' o,d Bo,d.IS,hed,'e BI (21 158,172.02
3, Clo..ly H.ld S'oek/Po,'oe"h;p ,,,.,... (Seh.d," C) ( 3) ~57~6S:00
4. Mortgages and Nolel Receivable (Schedule 01 (4) ______
5. Cosh, Bank Deposits & Miscellaneous Personal Property 15) ~...IJ41. 47
(Sth.d,le EI
6, Jointly Owned Property (Schedule F)
7. lransferslSchedule G) (Schedule l)
8. lotal Gran Anets (tolalLines 1.71
Q. Funeral Expenses, Administralive Costs, Miscellaneous
Expenses (Schedule HI
to. Debts. Mortgage liabiliTies, liens (Schedule I)
11. Total Deductianl (tololLinel Q & 101
[J5
_ 8. 10101 Number 01 Safe Depolit Gous
z:
'"
;::
:5
::>
~
;;:
..
u
...
0:
I b I
171 _.53,650..A3
576,228.92
181
19)
15,435.85
(101
236.22
(lbl
560,556.85
(III 15,672.07
(12) 560,556.85
(131 -0-
(I') 'i,;n,'i'i'; R'i
X._= -O-
x ,Ob = 33,633.41
x ,15 = -0-
(lB) 33,633.41
(191 33,213.41
(201
(211 420.00
(21A) 14.50
{21BI 414 'in
z:
'"
;::
..
~
::>
..
'"
'"
u
><
..
~
12. Net Value of Estale (Line 8 minus line 11)
13. Charitable and Governmenlal Beque"s (Schedule J)
14. Net Value Subject to lOll (Line 12 minulline 13)
15. Spoulallransfers (for dotes of death alter 6.30.Q.4)
See Inltructions for Applicable Percentage on Reverie (\5)
Side. Ilnclude valuel from Schedule K or Schedule M.I
16. Amount of Une 14 tOll.able ot 6% rate
(Include voluel from Schedule K or Schedule M.)
17. Amount of Line 14 tOllable at 15% rote
(Include 'Ialues from Schedule K or Schedule M.)
18. Principal lOll. due (Add loll. from lines 15, 16 and 17.)
lQ. Credih Spousal Poverty Credil Prior Payments Discounl
+ .32.555..52. + _65.1.JlL -
Interest
(17)
20. If line lQ is greater Ihan line 18. enter the diHerenc.e on Line 20. This is Ihe OVERPAYMENT.
ac
Check here if you ore requesting 0 refund of your overpoyment.
21. If line 18 is groaler thon line lQ, enter Ihe diHetenc.e on line 21. Thil is the TAX DUE.
A, E"OF,he ;"..... 0' ,h. bolo,,, doe 0' U" 21A, 2/15/97 - 7/7/97
B. Enter the 10101 of line 21 and 21A on line 218. lhis ilthe BALANCE DUE.
Moll. Cheell Payabl. to: Register of Willi, Agtnt
~ ~ BE SURE TO ANSWER ALL QUESTIONS ON REVERSE SIDE AND TO RECHECK MATH -<-<
Under ponalties of perjury, I declar. that I hove exomined Ihil return, including occompanying lChedules and slolemenlS, and to the best of my ~nowlodge and beliel,
it il true, torrect 0 complete. I declare Ihol all real estole ha~ been reported ottrue mor~et value. Declaration of prepafet olher than the personal rrpresenlalivll is
bosed on I b ti of whic.h repoter has any ~nowledge.
~1e.N"'UR" y:?~~"(. . 'fIIINe. ~(TiU'N AOO'!~~ 221 Glens ide 1.1nc, C~l1lp 11111, Pf\ ) 70 O"H
,71 .. ;)1 'u ' /1 ILI.,,~) '11 Sky! ine Dr'., ~lechilntcsbtlrq, 1'J\ 170S5 7/rN'1
~j.'URfgvRl'UlROlHl~ ...NRlf'RUl ~t:r::AD:lil~!1 301 t-1..1rkct St., P. o. lb'" 10() o..tt
ytM/~ /:"':y\- II'nY1yne, l'^ 17043-0109 7/1.('17
~lyers ,
-
c'
-
-'
;~.)
,
rJ:
:>
::>
Ou
,
/'j://1 /'1
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
~~..r~~' ;1
~,l l~~' I""'\..
~,., ,I.;;,p
,..f1!.. ,r;~
II. ,hI II ,.. ,n ".
,/
BUREAU Of INDIVIDUAL TAXES
IHIIINIUHCl tall DIViSioN
VU'I. :8ObGl
IlAualSBUPG, PA 11l:8 obOI
NOllCE Of INIIERlTANCE TAX
APPRAISEMENT. ALLOWANCE OR DISALLOWANCE
Of DEDUCTIONS AND ASSESSMENI or TAX
EDMUND G MyERS ESQ
JOHIlSON ET AL
PO BOX 109
LEMOYNE PA 17043
DATE
ESTATE OF
DATE OF DEATH
FILE NUMBER
COUNTY
ACN
11-03-97
WRAY
05-15-96
21 96-05',9
CUMBERLAND
101
WIllA
E
F=c }~~nl R..:I!~.cd -.cc,\
MAKE CHECK PAYABLE AND REMIT PAyMENT TO:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE. PA 17013
CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR RECORDS ~
ifE'v: is'47 - Eif - AFj:;-( iiF97"j - NoYi C E--OF- -iNliER i fA HC E-Ylix-iip p iiii is EHENi'-; -Ai. i'-oii Aiic E -OR - - - - - - - - - - - - - - - --
DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX
NANA E FILE NO. 21 96-0549 ACN 101
ESTATE OF WRAY
DATE
ATTACHED
11-03-97
TAX RETURN WAS:
1 ACCEPTED AS FILED
I X I CHANGED
SEE
NOTICE
RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE
APPRAISED VALUE OF RETURN BASED ON: SUPPLEMEIlTAL
1. Re.l Est.t. (Schedule A)
2. Stocks end Bonds (Schedule OJ
3. CloselY Held stock/P.~t".rship Intere.t (Schedule CJ
4. Hortgages/Note. Receivable (Schedule 0)
5. Cash/Sank Oeposlts/Hlsc. Personal Property 'Schedule E)
6. Jointly Owned Property (Schedule fJ
7. Transfers (Schedule CJ
8. Totel Assets
110. 01
RETURN
III
121
131
141
151
1&1
171
NOTE: To insure proper
credit to your account,
subnit the upper portion
of this forn with your
talC paynent.
,00
,00
,00
,00
.00
,00
7,000,00
IBI
7.000.00
APPROVED DEDUCTIONS AND EXEMPTIONS:
9. Funeral Expenses/Adn. Costs/Hisc. Expenses (Schedule H) C91
10. Oebts/Hortgage Liabilities/Liens (Schedule II C10J
11. Total Deductions
12. Het Value of Tax Return
13. Charitab1e/Governnenta1 aequests; Hon-e1ected 9113 Trusts CSchedule J)
14. Het Value of Estate Subject to Ta.
,00
,00
1111
1121
1131
1141
no
7,000.00
,00
560,556.85
I~ an assessment was
re~lect ~igures that
ASSESSMENT OF TAX:
1!1. Allount of Line 14
16. Allount of Line 14
17. Allount of Line 14
18. Principal Tax Due
TAX CREDITS:
PAYMENT
DATE
08-14-96
02-1\-97
07-09-97
issued previously, lines 14, 15 and/or 16, 17 and 18 will
include the total o~ ~ returns assessed to date.
NOTE:
at Spousal rat.
ta.able at Line.l/Class A rate
taxable at Collateral/Class 8 rate
1151
11&1
1171
,00 X ,DO:
560.556,85 x.06:
,OOX,15:
I1BI
,00
33.633,41
,00
33.633,41
DISCDUNT 1'1
INTEREST/PEN PAID I-I
657,89
,00
14,50-
AMOUNT PAID
RECEIPT
NUMBER
AAI46623
AAI85160
AA21\522
12,500,00
20,055,52
434.50
TOTAL TAX CREDIT
BALANCE OF TAX DUE
INTEREST AND PEN.
TOTAL DUE
33.633.41
.00
.44
,44
. IF PAID AFTER DATE INDICATED. SEE REVERSE
FOR CALCULATION OF ADDITIONAL INTEREST.
If TOTAL DUE IS LESS THAN II. NO PAYMENT IS REQUIRED.
IF TOTAL DUE IS REfLECTED AS A "CREDIT" ICRI. YOU MAY BE DUE
A REFUND. SEE REVERSE SIDE Of THIS FOR" fOR INSTRUCTIONS. I
\
RESERVAtION: E.lat.. of decedent. dying an or before Oec..be,. 12, 1'81 -. If any future Int.r..t In the ..tnt. 1. tran,f.rred
In po.....lon or enJoy..nt to Cia.. B (colln'aral1 ban.flcl.rl.. 0' the dacedant aft.r the ..pltatlon of ftny 8.tat. 'or
11f~ or 'or y..r., the Co..onw..lth h.reby ..pr..sly r...rv.. the right to appral.. and .....1 Iran,'.r Inherlt.nca ,....
at the lawful Cl... B (colle'ar.l1 rata on any luch future Inter..t.
PURPOSE OF
NOflCE: To fulfill the nqulr...nh of Sactlon 21t,O of the lnhultlllnu and [,tah h. Act, Act 21 01 I'~ql). <<12 P,S.
Section 91ltO),
PAYHENT: Detach the top portlon of this Notln and subalt with your P.........", to p... Daql"." of Wllh prl..ta(t on the ravarn ,Ida.
uHaka chack Dr 80nay order paynbh tOI REGISTER OF' HILLS, AGENT
REfUND ICRl: A r.fund of a ta. cr.dlt, which wnl not raqu..tad on the lnx ~aturn, ~ay ba raqua.tad by co~pl.ting nn MAppl icat Ion
for Rdund of Penn.yhMia Inharltann find [stnh T..," IA[V-UI]I, Application. are aVllllable fit Ih. CHlu
of Iha A.glstar of Wills, any of th. :1 Aavanu. Ol.trlcl Offlc.l, or by calling the .paclal 14-hour
anlwarlng s.rvlc. nuab.rs for foralord.ringl In P.nnlvlvanla 1'8~e'5bl-10~0. ~utlld. Pann.ylvania and
within local HarrisburG arall Uln 181-80lJ4, TOOl (11/J 111-USl Itlaarlng I.palr.d Only).
OIJECTIONSl
Any pllrty In Int.r..t not satisfl.d ..ith Ih. .,pr..;.......nt. all-.
of IIIX (Including discount or Int.rastl a. Ihown on thll Notic~ '
this Notlu by:
~ or dll" ,..MC. of deductions, or all.....nt
.t obJ.ct "ll~in Ilxty tbO) days of r.c.lpt of
.-wrltt.n protut to the PA Oapl'Irt.ent of A.v.nue. Board of App.als, O.p\. 181011, Harrisburg. PA 11118-1011, OR
-..I.ctlon to have the .attar d.t.r.lned al audl' a' tha account 0' Ih. p.rlonal r.prel.nlatlv.. OR
.-app.al to the Orphanl' Court.
AD"IN
ISfRATlVE
CORRECTIONSl
FactulIl .rror. dl.cov.r.d ~" thl. ........nt .hould b. IIddr....d In writing 10: PA Depart..nt of Aev.nu.,
lunau of Individual tn.... AllN: Po.t h.....IlI,,, Aevlew Unit, nep\, l8060l, tlarrisburg, PA 111l8-0601
Phone (111) 181-6~OS. S.e page S of the bookl.1 Mln.tructlon. far Inh.rltanc. Ta. R.lurn for a R..ldent
n.c.d.ntM IREV-ISOI) for .n ..planatlon of adalnl'lratlv.ly corr.clabl. .rror..
DISCOUNT:
If any tax due I. paid within thr.a (1) calendar .onth. aft.r the d.cadenl'. d.ath, a flv. p.rc.nt (S~l dl.count of
the tll. paid Is .1I0...d.
P[NAl1V:
lhe I~~ ta. aan..ty non-participation p.n.lly JI cOllpul.d on Iha tot.1 of thll t.. and Intare.t 1'I1.....d, and not
Pllld b.for. January 18, 1996. the flr.t day aflar tha and of Iha tax nan..ty parlod. lhls non-participation
p.nalty I. appealabl. in Ih. .aa. .ann.r And In tha Ih. In.a tl.a p.riod al you would appeal the Inx and Int.r..t
Ihet has b..n ."..I.d a. Indicated on Ihl. notlc..
INTEREST:
Int.ralt I. charged baglnnlng wllh flr.t day of delinquency, or nln. (91 .onth. and one III day fro. Ih. d.t. of
da.th, 10 Ih. det. of pay..nl. Ta... which becaaa d.llnqu.nt before January I, 1~8l blllr Int.ra.t .t the rela 0'
.Ix t.~) p.rcent ~Ir annu. calculal.d lit . dally rata of .000Ib~. All t.... whiCh blc.., d.llnquanl on and .ft.r
January 1, 1911 will b.ar Intar..t at . rat. which will vary fro. calandar y.ar to {'Iand.r y.ar wllh Ihat r.t.
announc.d by the PA Depart..nt of R.v.nua. The applicable Int.ra'l rata. for 191t I"rough 1991 aret
'!!!! Int.r..t Aat. Dally Inl.r..t Fflelor ~ Int.rall Aata Dally In'.r..1 ractor
198Z 20X .OOOS~I 1981 .~ .0001"
1981 16:< .000438 1988.1991 1I:C .000101
1984 11:< .000101 1991 .. .000l"
I9IS U~ .0aOlSb 1991'199~ ,~ .000191
1916 lOX .00017~ I99S-1991 .~ .000l"
--Intarut Is calculated .. folio".:
INTEREST = BALANCE OF TAX UNPAID X NUNBER OF DAYS DELINQUENT X DAILY INTEREST FACTOR
-.Any Notlc. I"uld aftar the ta. blco... d.llnqulnt will r.fl.ct an Inl.ra.t c.lculatlon to flfta.n (I~) day.
beyond the date of the ........nt. If pay.ant I. IlId. .ftlr thl Int.r..t co.pulallon dall shown on Ih.
Notlc., additional Int.r..t ~st b. calculat.d.
-. ~.. ~.
lIv-nUIlI''''1
146623 COMMONWEALTH OF PENNSYLVANIA
DIPARTMENT OF REVENUE
OFFICIAL RECEIPT. PENNSYLVANIA INHERITANCE AND ESTATE TAX
.
o NO, AA
RECEIVED FROM:
i
ACN
ASSESSMENT Pi'
CONTROL iii
NUMBER
AMOUNT
MYERS EDMUND G
301 MARKET STREET
POBOX 109
LEMOYNE, PA 17043
101
~12,~OO.OO
r fOtO Hur
I
I
I
I
i
I
I
I
ESTATE INFORMATION:
1:'1 FilE NUMBER
5i 21-1996-()549
1:'1 NAME OF DECEDENT (LAST]
1;1 WRAY NANA E
II DATE OF PAYMENT
B POSTMARK DATE
COUNTY
SSN 526--18-5669
(FIRST] (Mil
CUMBERLAND
DATE OF DEATH
05/15/96
REMARKS
m TOTAL AMOUNT PAID
$12,500.00
CW
NANA E WARY DESTEFANO
WILLIAM A WARY,JR
CHECK II 108
REGISTER OF WILLS
SEAL
--' ~---
--. __ . ...-~~.~ 4:"--U 1:~
., -. ,.- ,~
lN1Wb:'....4J
185160 COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
OFFICIAL RECEIPT. PENNSYLVANIA INHERITANCE AND ESTATE TAX
'*
DNO.AA
RECEIVED FROM:
i
ACN
ASSESSMENT r:'I
CONTROL iii
NUMBER
AMOUNT
EDMUND G MYERS ESQUIRE
lul
"cu,U:)~.:)r!
I
I
I
I
I
I
I
L'OCOtlflf
i
301 MARKET STREET
LEMOVNE, PA 17043
ESTATE INFORMATION:
~ FILE NUMBER
li 21-1996-0549
r:I NAME OF DECEDENT ILAST)
~ L~RAY NANA C
~ DATE OF PAYMENT
Iii 02/11/97
m POSTMARK CATE
COUNTY
55N 526-18-5669
(FIRST) IMII
CUMBERLAND
DATE OF DEATH
05/15/96
REMARKS WILLIAM A WRAY JR
NANA E WRAY DESTEF_~NQ
C/O ElMJND G. MYERS, ~IIlE
~AL CHECK" 122
m TOTAL AMOUNT PAID
"20.0~~.52
vz
REGISTER OF WillS
./
RECEIVED BY ,:' '" "lK. ,~,
I NATUAt
,
MARY C. LEWIS
REGISTER OF WILLS
.. I ~ -' < t.~
~,
- .~..,.,..".-
_ -_. - -. """'IIlo oNa___ _ "qT" ~
/.) In
"
/'1
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
BUREAU or INDIVIDUAL TAXES
IHlllMltAHCl lAlt DIVISION
DlP'. lBObOI
tiAIlRISRUAC. PA I1lta.Ob01
NOllt[ or INIlERIlANCE TAX
ArrRAISEMENT, ALLOWANCE OR DISALLOWANCE
or DEDUCTIDNS AND ASSESSMENT or TAX
EDMUND G MYERS
JOHNSON HAL
PO BOX 109
LEMOYNE
DATE
ESTATE OF
DATE OF DEATH
FILE NUMBER
COUNTY
ACN
ESQ
PA 17043
r
09-09-97
WRAY
05-15-96
21 96-0549
CUMBERLAND
101
Anount Rellltt.d
('/
~(~~,
~~!~
'11.lhl'l "..11 ".
NANA
E
i
MAKE CHECK PAYABLE AND REMIT PAYMENT TO:
REGISTER DF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE. PA 17013
CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR RECORDS ~
iiEV:is4i-Eif"AFiQo3":9:ff"NOYicEuOFufNHEififi,N-cn'-Ai("i\,PPRAisEi,-IfNi"-,u,H,LowANcE-olimm-mm-m
DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX
ESTATE OF WRAY NANA E FILE NO. 21 96-0549 ACN 101 DATE 09-09-97
T AX RETURN WAS: I X) ACCEPTED AS FILED
RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE
APPRAISED VALUE OF RETURN BASED ON: DRIGINAL RETURN
1. Real Estate (Schedule A) (1)
2. stocks end Bonds (Schedule BJ (2)
3. Closely Held stock/Partnership Interest (Schedule C) (3)
4. Hartg.ges/Not.s Receivable (Schedule DJ (4)
5. CashlBank Ceposits/Hise. Personal Property (Schedule E) (5)
6. Jointly Owned Property (Schedule fJ (&)
7. Transfers (Schedule G) (7)
8. Tot.l Ass.ts
APPROVED DEDUCTIONS AND EXEMPTIONS:
9. Fune,.el E~p.ns.s/Adn. Costs/Hisc. Expenses CSchedule H) (9)
10. Oebts/Ha,.tURS. Lhbilities/LIens CSchedule 1) 110)
11. Total Deduction$
12. Net Value of Tax Retu,.n
13. Ch.,.ttable/Governnent.l aequests CSchedu1e J)
14. Net Value of Est.t. Subject to Tex
CHANGED
125.000,00
15B.172.02
157,265,00
,00
82.141.47
,00
46,650.43
CB)
15,435,85
236,22
Ill)
1121
(13)
(14)
NOTE: To insure proper
credit to you,. account,
subnit the uppe,. portion
of this farn with you,.
tax paynent.
569.228.92
1~,6n 07
553.556,85
,00
553.556,85
If an assessmBnt was issued previously, lines 14, 15 and/or 16, 17 and IB will
reflect figures that include thB total of ALL returns assessed to date.
ASSESSMENT OF TAX:
15. Anount of Line 14 at Spousal rate liS)
16. Anount of Line 14 taxable at Line.l/Class A ,.at. (16)
17. Anount of Lin. 14 taxable et Collat.ral/Class a ,..t. (11)
18. Principal Tax Due
NOTE:
TAX CREDITS:
PAYMENT
DATE
08-14-96
02-11-97
07-09-97
RECEIPT
NUMBER
AA146623
AA185160
AA211522
DISCOUNT C.)
INTEREST/PEN PAID 1-)
657.89
.00
.00
.00 X .00=
553,556,85 X ,06=
.00 X ,15=
!l81
AMOUNT PAID
12,500,00
20.055,52
434,50
TOTAL TAX CREDIT
BALANCE OF TAX DUE
INTEREST AND PEN.
TOTAL DUE
.00
33.213,41
,00
33.213,41
33.647.91
434.50CR
.00
434.50CR
. Ir PAID ArTER DATE INDICATED. SEE REVERSE
rOR CALCULATION OF ADDITIONAL INTEREST,
I Ir TOTAL DUE IS LESS THAN $1, NO PAYMENT IS REQUIRED.
Ir TDTAL DUE IS RErLECTED AS A "CREon" ICR), YOU MAY BE DUE
A RErUND. SEE REVERSE SIDE OF THIS rORM rOR INSTRUCTIDNS.)
\,,'.
"",I
RESERVATION:
E.t.te. of dec.d.nt. dying on or b.for. O.c..b.r lZ, 198Z .- If any future Int.r..t In the ..tat. I. tren.f.rr.d
In po.....lon or .njoy..nt to Clas. e Icollat.rall b.n.flcl.rl.. of the d.c.d.nt aftar the .,plratlon of any ..tata for
Ilf. or for ya.r., tha Co..onM..lth har.by a,pre..ly r..arv.. the right to appr.I.. and ...... tran.f.r Inh.rlt.nc. Ta,.'
.t the lawful Cia.' I (collat.r.ll rat. on any .uch future Int.r..t.
PURPOSE Of
HoflCE:
To fulfill the r.qulre.ent. of S.ctlon Zl40 of the Inheritance and E.t.te Ta. Act, Act Zl of 1995. (7Z P.S.
S.ctlon 9140).
PAYHEHT:
O.tach the top portion of thl. Hotlc. .nd .ubelt with your p.ya.nt to the Reglst.r of will. prlnt.d on the rev.r.e .Id..
--Hake ch.ck or .on.y ord.r payabl. to: REGISTER Of MILLS, AGENT
REFUND (CRI:
A refund of at.. cr.dlt, Mhlch M.' not request.d on the Ta. Return, ..y be r.qu..t.d by co.pl.tlng en -application
for R.fund of P.nnsylvanl. Inherltanc. and E.tat. Ta." (REY-1313). Application. are av.ll.bl. at the offlc.
of the Reglst.r of Will., any of the Z3 R.v.nu. DI.trlct offlc." or by c.lllng the .p.cl.1 Z4-hour
BRsM.rlng ..rvlc. nuab.r. for foras ord.rlng: In P.nn.ylvanl. 1-800-36Z-Z0S0, out.ld. Pennsylvania .nd
within 10c.1 Harrisburg ar.. (717) 187aID94, TOOl (717) 77Z.ZZSZ U1.arlng I.p.lr.d Only).
oBJECTlONSJ
Any party In Inter..t not satl.fl.d with the .ppr.I....nt, .110M.nc. or dl..lloManc. of d.ductlons, or ........nt
of te. I Including dl.count or Inter..t) .. .hoMn on thl. Notlc. .u.t obj.ct within sl.ty (60) d.y. of r.c.lpt of
thh Notlce by:
--wrltt.n prot..t to the PA Dep.rta.nt of Rev.nu., loard of App.al., Dept. ZIIOZI, Harrl.burg, PA 17IZI-l0ZI, OR
--.I.ctlon to hava the .att.r d.t.ralnad .t .udlt of the account of tha p.r.on.1 r.pr.sentatlv., OR
--.pp.al to the Orphans' Court.
ADHIN
ISTRAlIVE
CORRECTIONS:
Factual error. dl.cov.red on this .ss.s...nt .hould b. addr....d In writing to: PA D.part.ant of R.v.nu.,
Bur.au of Individual Ta.." ATTN: Po.t A.s.....nt R.vlew Unit, D.pt. Z10601. Harrisburg, PA I11Z8-0601
Phone (717) 787-6S0S. See page S of the booklet "In.tructlon. for Inh.rltance Ta. R.turn for a R..ld.nt
Dec.d.nt" IREV-ISOI) for an e.planatlon of .d.lnl.tr.tlvely corr.ct.bl. error..
DISCOUNTl
I' any t.. due I. paid within thr.e (S) calend.r .onth. .fter the d.c.dant'. d.eth, a flv. p.rcent (5X) dl.count of
the t.. p.ld Is alloM.d.
PENALTY:
The 15X ta. ean..ty non-partlclp.tlon p.nalty I. co.put.d on the tot.1 of the ta. and Int.r..t .......d, and not
p.ld b.fora J.nuary 11, 1996, the flr.t day .ft.r the .nd of tha ta. ..n..ty p.rlod. Thl. non-p.rtlclp.tlon
pen.lty I. app..l.ble In the .a.. .ann.r and In tha the .... tl.e p.rlod .s you would .pp..1 tha ta. and Int.r..t
that h.. b..n .......d a. Indlcat.d on thl. notlca.
INTEREST:
Intar..t I. charg.d b.glnnlng with first day of d.llnqu.ncy, or nlna (9) aonths .nd on. (II day fro. the data of
d..th, to the data of pay..nt. T.... which baca.. dellnqu.nt bafore January I, 191Z b..r Int.ra.t at tha r.ta of
.1. (6X) parcant p.r annua c.lcul.t.d at a dally r.ta of .000164. All t..es which b.c.aa d.llnquant on and .ft.r
Januery 1, 191Z will b.ar Intar..t .t . rat. which will vary fro. c.lendar yaar to celandar y..r with that rata
announced by the PA D.part..nt of R.venu.. Th. .ppllc.bl. Int.r.st rat.. for 198Z through 1997 ar.:
'!!!! Int.rut Rat. DIIIlY Int.r..t Factor !!!! Int.r..t Rat. Dally Int.r..t F.ctor
1912 zoX .000548 1917 .X .000241
1983 16X .OOQUI 1981.1991 llX .0003Dl
1914 lIX .000301 199Z 'X .oaa247
1915 nx .oOQ3S6 1993al994 7X .00019Z
1986 lU .000Z74 1995-1997 .X .000Z41
--Jnt.r.st I. celculated .. follow.:
INTEREST = BALANCE OF TAX UNPAID X NUnBER OF DAYS DELINQUENT X DAILY INTEREST FACTOR
--Any Hotlc. I..u.d eft.r tho ta. baco..' d.llnqu.nt will r.fl.ct an Int.r..t c.lculetlon to flfteon CIS) devs
b.yond tho data of tho ........nt. If pay..nt I. .ad. aft.r tho Int.r..t co.putatlon data .hown on the
HoUce, addltlonal Intarast IN.t be calculat.d.
Register of Wi 115 Office
Cumberland County Courthollse
1 Courthollse Sqlldre
H(l)~l
I.-
Carlisle, PA 17013-3387
JOHNSON, DUFFIE, STEWART & WEIDNER
Attorneys at Law
P,O, Box 109
LEMOYNE. PA 17043
TO
SUBJEer:
Estate of Nana E. Wray
DOD: May 15. 1996
21-96-0549
DATE: 8/14/96
FOLO +
Enclosed is a check in the amount of $12,500.00 as a payment on account
of Inheritance Tax for the above-captioned Estate, being made within the
90 days to allow for the 5% discount.
PLEASE REPLY TO
.
SIGNED
11,'>0
"AIJ:~ ~,-
Edmund G. Myers
c!'h
REPLY
DATE:
SIGNED
Reol'def ltem.F270 Gr.~.rc. PO 80.29<14. Hartford, CT 061001.29".
OEGI,l982.PnntedIl'lUSA Jill': f~ )1"",' H\~i P;\ '".~ td'flftl~;:Tll
i
,
.
. '
-_.1
~..........-
~ _ '. 1':'
- - .-_.__.~ ...---...-111_
AEV.1S00 EX. (7.9"1
W
...
~:!cn
..,<<..
w~'"
:coo
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Ww
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l
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INHERITANCE TAX RETURN
RESIDENT DECEDENT
(TO BE FILED IN DUPLICATE
WITH REGISTER OF WILLS)
)'fAR
.-,
fOI ,Es Of DEATH AnER 12/31/91 CHECK HERE
If A .~OUsAL _
POVERTY CREDIT IS CLAIMED [ ]
.- _...._._~".._------------- ---.----
fiLE NUMBER
COMMONwEAltH 01 PENN5't'lVANIA
DEPARTMENT Of AEVENUE
DEP' 280601
HARRIS8URG. PA 17128.0601
Otc:tOWn N"'ME Il"'51. 'I~R AND MIODLE 'NITIAL]
96
0549
NUMBER
21
COUNIY CODE
OECI 0('41'5 (OMPlE It AOONt~~
421 ^11endn1e Wny
C<"l"1J iii 11, I'^ 17011
...
z
w
o
W
..,
W
a
WRlIY, NI\NlI E.
5OC....l SECURITY t.UMB(R
OATlOfOfA'"H------ OAffo,-ilillH
5/15/96
3/28/15
526-18-5669
1" '''L'C'IIII ~u."~,,,c VouU S """II,'ll "." ....0" ~~.l 'Ii !'''.I
re,.. >!CV"" "VM'"
Supplemental Return
KJ 1. Original Return
[J 2
z
o
;::
:5
::>
...
c::
..
..,
...
<<
o 4. limited Estate 0 40. Future Inleulst Compromise
(for doles of death altor 12.12.B2)
29 6. Decedent Died Testate [J 7. Decedenl Maintained 0 living Trust
(Anach copy of Willi IAlIach copy of Trust)
ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
NAME . c:.9"'ilEH MAILING AOOJl.J.~ .
Edm,llld G. Myers, F~u1re .Joonson, Dutlle, Stewart Ii Weidner
""'"O"'''VMI'' 301 Market St., 1'. ~x 109
I 717) 761-4540 T.cnI)yne, I'^ 17043-0109 '!.;
I. R.al E.'a'.ISch.dule A) (I) ~?5!.QQQ..Ol!..__,___..
2, Slach and Band. (Sch.dvle B) ( 2 ) __J3.!!,JJ.2....J!.2
3, Clalely H.ld Slack/Parln",hip Int"OI' (Schedul. C) (3) 157,2/;5.00
4. Mortgoges and Noles Receivable ISchedule 01 ( 4 I
S. Cosh, Bonk Depasitl & Miscellaneous Personal Property ( 5 I __6~~.-L4J. 47
ISchedule E)
6. Jointly Owned Properly (Schedule FI
7, Trand." ISch.dul. G) ISch.dul. l)
B. Tolal Gran Antlh (latalUnes 1.7)
9. Funeral hpenses. Administrative COSll. Miscellaneous
Expenses {Schedule HI
10. Debts. Morl9~ge liabililies, Lienl (Schedule I)
11. T010I Deductions (lolcllines9 & 101
12. Net Value of Estale lline B minus line 11)
13. Charitable and Governmental Beques" (Schedule J)
_ B. Tolal Number of Safe Deposit Boxes
_. :'J
~
16)
17)__4Q.650.43
569,228.92
19)
15,435.85
18)
(10)
236.22
14. Net Value Subjeclla Tal( lline 12 minus line 13)
15. Spousal Tronden Ifor dotes of death aher 6.30.94)
See Instructions for Applicable Percentage on Reverie IIS1
Side. (Include '1alues from Schedule K or Schedule M.)
16, Amount 01 Un. 14 la.able at 6% 'a" (16) _~53, 556.85
(Include values from Schedule K or Schedule M.)
17. Amount of line 14 taxable at 15% fole (17)
z (Include values from Schedule K or Schedule M,)
o
~ lB. Principal tax due (Add tax from lines 15, 16 and 17.)
...
~ 19. Credih Spousal Pover'y Credit Prior Payments DilCount Interesl
~ +.12,500.00 + 657.89
..,
(11) 15,672.07
(12) 553,556.85
(13) -0-
(14) 553,556.85
x._= -0-
x ,06 = 33,213.41
x ,15 = -0-
(18) 33,213.41
(19) 13,157.89
120)
121) 20,055.52
(21A) -0-
(21B) 20,055.52
~
...
20. If line 19 is greater thon line lB, enter the difference on line 20. This is the OVERPAYMENT.
rJO
Check here if you ore requesting 0 refund of your overpayment.
21. If line lB i'9reater than line 19, enler the djfference on line 21. This is the TAX DUE.
A. Enter the interest on Ihe balance due on line 21A.
8. Enter the 10101 of line 21 and 21A on line 218. Thi, is the BALANCE DUE.
Ma~e Check Payable tal Reglster of Will., Agenl
~ ~ BE SURE TO ANSWER ALL QUESTIONS ON REVERSE SIDE AND TO RECHECK MATH -0(-0(
Under penalties of perjury. I declare lhatl hove uomined Ihis return. including accompanying schodules and slatoments, and 10 the besl of my knowledge and belief.
it iSlrue. correct and complele. I declare Ihat all real estole has been reported otlruo morkel value. Declaration of preporer olher Ihon the personal representative is
based on 011 information of which preparer has any knowledge.
~"AlV" 0"" O':j~~:C:~~"~ 'J'j'!'l1 .t'~r:l ,,,,~"E"" 221 G1<;>nside, (.,ne. Cnmp, IIi 11 . ,P^ 1701] O'I! I ,_
: /la,r fer ,..t- --: 91 Skyline Dnve. ~1cchi1mcsburq. I'^ 17055 :2 1.:11'/ "/
SIGNA1U. PROP"'RERorHERIHANA:(PAUENTA. f AOORESS 301 t'ok.1rkct St. P. O. Box 109 OAl(
',(X'l1-.... TclTO ne PA] 704 3-0] 09 ').. I ( " /'i )
nd G. ~tyers, Esq.
.
:
~
~"'M"/ApPf.I..IR.poIt OMll }jGl"r.A5r.OC\Al(5
o 'I I UNIFORM RESIDENTIAL APPRAISAL REPORT I....' (,-'I!)O
rmpetftAcldle,,_42lNWI\-\U;WI\Y f,lIJCNiPIHU, !l\l~l'^ 1'fl(11Il.l'l011
teQ.1OnCllptoll _ wr _ 69^ t:llVnPy OtUJllUNIO
.A"nlOf',_r"~eI_No. 24-607-157 luYur?(. 1111'\' 1,7(~J.OntJlf''1tA\\nVtffll''O
f1ofll!w!l' (ulIl"fll IJwIlM l~ (11 'IMI I l'lwflM I i Iml"! ! ! ViranI
rr I h'l' ."td I 1,,..SIm" II,nrtrlll '# I il'l"l I IfHl."IlIlIl\IUIn 1lIlll,'V.lnn lillA' 0 ,Mol
_frktghbolhOOOor!'ro)l.'tIN.rtlI AUllnWl-: M.plltltrrfltI trll'u\ II.tl]O')
5.. J'l1t. $ O..oIS.le D'\(fl.~'''oj' 1~1)f11 ~ l.U/I(t.';'.u.(n";1','~lf PI'l1I"J' UH' run:
1....,<:1."'- mrATE Ot' rwnlA E. ",lAY ,,,,,.. C/O UKra) HYI,m, l:Q.J1nt:
,... lWlIl1, II, ~Ilt{;m eM IWI "d'~' ~RO'/ I,:r mWJ-:r CAMI' I Ill, I'
lOCloton llurban IXlsubli1b.n i IIM.I I'DlbtNnl. l;~ ,.ld' I 1'I......MlN\o
B,OU, IXlo..,,, I 11',1'\ I IU"'.I" "'......, I I:;:' \."1 1""""'1 100
Grow'm'" 1 ]fUpd [XiSUble I ]su-. !XIOwntf ~ 115 low 12 i1.41ulll~
Propuf1 U~CI [.llocleull'9 ! XI Sb~1I! 1 I ()cdl1lll\l ! Ilet\lnl I' 225 "'V1l J"I 1 M~1lI '~nll~
OerNlllt,,~pplf L I SOONg. IXjlnb~~nu I l0\0enIlPP'r IXlv~~~"lH\1 .__ll'lldomlllolrtll ..1r.0I1U1~lu~'
~1.etng~.J.XlUnder.~r:rm.UJ.ljmos Uo.-er6mos UVJq~'d\J. 150 20 I
Nol,: R.c. and Ih. r.cI.1 compo.lUon 01 \h. neighborhood If' nol ,ppl.lul '.eton.
NtlgllbOlhoOdbollndl.lle5andtNrlCbl\llc. SEX ATrJ\CIFD JoWl.
1'1011
III'd ........
i X] Nul Udy I lll~{~
I llnrHKt!.s
10
- -.-----.--.--.---.
.. fatm I1IlanecthrNlul.lblU1 01 h ploptl'tle$ltll1entlQhbolhood (pIOllf1\ltr bernpbymmll.ndl.rt1tf\lbn.empbymenlll.lba'Y,.1PlIU1b 1N1\tl et: I
~ tl:l WJI'FSE CXNlrrrOlS Imm. SlJIlJIrI' LOCATfD rn SUlJJRIWl IWWSOOR:; AlID IilliJDlll1'lllL =MSIClI
,. O(IP1ElU.IIDl.')tl'N5HIP l<ll::W i'S, "J\IlDIlYIU."'. NElGl!llnIXO IroPl'RfIES ARE OF SJMIlJ\R QJI\Ll'lY Nl!)
~.,)~JDJLS. S1PPPm:;, AlID RWlFATlCWIL F7IClL1TlES.AREWTIlUN 2 MlUS. EMI'lD'/MI:Nl' CElmRSn
AREJffilmU5.l'\lllUIECllWI'E OF SlJIlJIrI'L rnPUl'/MEl1J' IS Sl'l\IllE.lIRFAOf'l'ffiS AVI:1ll'GE APPliIL '11)
TIlE,MAIU<EI' .
~rtel tondlllolllln tie lllbjt'(t llClQt\bOIhood (lIltkldlllQ lUPpoft tGI h I.boYe ,onc~slOns rt!.l~ b till !lend 01 pmpeltr U~C$, denwnd/SuPP'l, and Il\Alktll1!;1 lnlt
.. ,uth U dl.\I on tompc:lh. prope(Oe$lol SI~ in f1e ntlQhbofhood, dC$CIIptlon olllt prrYl.rnte 01 ules l.nd IlI\Incrng tonceulOllS, et I
SUPPLY/DElWlD IN 1lII1ANCE, lDAN Dlsa::un' FEES AVEl1IIGE 2-3\ '11) f\lROlJ\Sffi, lllN-tnltINlD
caassIOlS /IRE tm,PRf.V1IUNI' 'I1).TIlE l'\TIIlIQ,'I' I'UICE.
-~._----------,.-_.._..- -
PJo;Idbblm"'twPWs (Ilapple.tb~)..bl1edevdJpclitlulkjeflntort!lolOllltltomeOlirIltl"AlSOCllllon(IlOA)1 l.-Jves U Pia
Appmlm.UIl b\llnumbefalulllts InllelllbjtelprolKl APPfOJim.lt b~lnumbelolllM5lol sa~1n hlllb)etlp{01K1 -----
[)eseribe emnmon eenents and reclufloNIIJClltieS.
0In0101oIl$ .~OQ,JL~70 IOP<>i"'hy .LE.VEL
Sill.." ..12Q90_SF .__.._~ COII"lol dyes [XI" SO, A'JE1lI'Q;
SpocifcroninQtllUlflulOnl.nddescritltlon Jm5IDEm'IAL~-.,--_._,._-- StLIpcl .~==.-=~~~
loninOtompllntl [X]leQal o LeQl.lnonconlolTfllflO(Glandlafltttdusc)[]Ikoal [JNoIOI\ItIO OII.in.1gt APPE1\Ri.ADE:J';l..V\TE-.._.-
~'1nt&bt"l,l\tn~I1l~JXlli~.llLSC_ D~~l~l~lpl.lInL______-_- Vrw .A'I/'rnN;E_..--.--.---
UIIIIS Pubk 0IIet O'J."""""'vo"''''~ T,pe PubliC f'rrwlt LJndsuping _o:x:o.. u_.____
E"''''~ [1(1... 5...1 M1\CAlYIM .." ,..' [XI ['J 01....,5'11.0" MN:IIDI\M u .,.' ,.
all [] C,,'~u"" .~..___.,.. [XI L I ",,,"'I"""""'IUlLIC IUlJ:Jl1ll;
w... 0(1 5..... .~....,_.,._. [XI [J IEMAS",.'fOodi";..~^,,,' r:JYes [Xf";--'
S'no"~"'. [l(J 5........ .lOlE,._..,___..U 1"1 rtMAlo.. .C_..'n__ M.o,0...09~3o-77.
1""".... ,'Iey,__lOlE__,__.._..._W. ,D..IEMA.M.op"_421016..._ n'
Comments (apparenUd,eneusemenl5.entmctrnenl5, 'petijlmeumenl5, Udcalus,!t:9I.IOI!eoaloofltOnlouninQ lO~U5C, et) .tD.~_
~,_~. CIl OIlIER_&ll/El~ILCOlDmq~..tp)'ID,_SUE_IS..'M'I~...IN...J;IZE,Bll_'ljIE--
NElcm:m:cx:!.
GU4RALOESCRlPllOO, OOlRlOOOlSCfUPnOH, rOONOAtlOO ,~RA.SLMLNt, IINSl1lAIKW
No,oIUOIts _"- fOllndl1lon _~.~ SLlb Ja~~_Alt-Isq.n ,l,.OJ.5____Roo1 __._0
No olSbl\e$ J.____, (ftOOlWdl .BR/AI..LM _~ ClawlSpatl _PAm'IAL \rll\ishtd _O______ICelblO ----- [Xl
1,pcjOet/An.) _o~ RooISul11ct .ASAf.9-lD'-C. 6uemmlfUIL ~u Ctl.nQ _. . Wds.__ .. r. J
OeslgnlStrt) y,ANCJ{_ GII~&OwI\5Pt.\ }\l.l.MnU1_ SlIIIlfIPump .VFS .____.. W~15 _ _.._ .___tfOOI _______I..J
EJislll;lf'topo,td OOsrIN:iWlI1dowType 11\ IN:; Ol.mpness n:> NJl)mcE fOOl ~1NOIlt ------[:
::::;.~~. " ~~~;~i-=-- ::;~:'I.}~=-= ~,~=; .~~~ "..er'''lOlE.''IU''''"'_ ,..-- L:J
:!Sf -'7_ ='~l':';? u':~I'~~ ~??"';?f::fl::'"r~l
rMhtd alt-labawt r~deconla~-:- --- ,- RoofM -j 8l'dr~- ~.- ---. .2-n~-;- ---.- 17~fl S U~le r;j;lrol~-;t;-. -ArtJ ...
IHlU1IOO I&bij~Ondltlon, IllAtlHG K11CtIlNlQUlJ'. ATlIe \AMlfl\IIlS " CAAS100AGl
fOol. JJf1JffJ/OWf/AVE I,," ..1&/...,.. "",~..., i:l No.. [] r,rp."I'I'.I~U(]([XJ No.. [:1
Wall _PI.}Sffll/AVE-__ rlld O~ runQ~en [XI SI.IIIS {'.\ Pl.~ Jx:tKm:I'EJX1 G.moe I 01 car,
hln\flnilh _w:xD/AVE. _ ___ . Condlllon AVE Ol$pas.al IXI OIOpSl.I1I f'] IOctk .1Offi._. __ [~1 At!.Ithtd 2
\II~I'" ,eNlJ"i:r/AVE, ,._ C()(ll"a 10......"" I Xi 5"". I XI 1'0,,' ,m:m'n I XI De",'"
B.lflWllIlStOI_r:f1W{1C/AVE, ',., Ctnllll tore. \hn.,1ood [Xl fbol 1,'1 Fenct lore . !..1 ClIlll.ln
000" lPL"a:::m:/AVE_ _ ot.tf . Mclowne [..] Ille.Ibl i.] rool tore . [,"1rClrpoll
Condition W~,htI,f1 rI f 1 FIflr<.hrd r 1 f 1 i Orrwewl 2
MdIDonlltt.lklles('I*~lentI'01tf1Cltnlltms,etl _fFA'I\.lRES mua< f"IRD'I./CE.llI. LIVll~J~,.SLIDm:;.GIASSJ~ts-.
m:M.DJNIN:;,RXIi'l1)..,CXMl1ID REAR PATlO/RKll. .. - ,.....'.....'...-
COndltoO 01 f1e ln1pIuwcmtnts, dtplttll.tlon (ptlylltlt l\lnr;~t ,t1J t1nl'll~. IrtlUS ~ed. qu,UI 01 tom.luttlOn. lemode\nQll.ddIIlOM. et: MINlM7\L
fllYSICIIL.Dmux:IJ\TlOIIWl_ tmm. TInm: IS III tID\Sl.IWlLE E.VIDEllCE OF,fUlCI'lCWIL ,CIl ~.
oorou=NCE... TIUS IS 'lYPICIIL FCIlIr:u;ES OF TInS I'GE AlID QJI\Ll'lY.
'~
Mfa" emwOfWtfltll tondlllOn1. l\uth 1\.llul ml.(\~ht 'I. N/~'dllll\ w~\h. kIn: \lIb\l.IrlCe\. r1a: I plf'!.tlll "1lhr IInpIO'lalltllt\. on k ilk, Olllll!lt
kT\ITIIldl.l".ltlnll'l 01 lit 'lIblttllJfOpelly tore J<ltw-I.
"",dll: MJtfmm 10 (~ln
rArdll'll?
101m UAl .. 'IOIAI XlOO" JpplllutsofM~re by 11.1 mode, lnc
hMoeM.lrlOfmlOOtr./J]
.
"'~--.
UNIFORM RESI~ .flAl APPRAISAL REPORT
V.lu.,lon .tllon
l'llMA1Hl511l VAWl
lSlIMA1HJIUI'IOOUCIK1tCOSI.h{W'~ wmCMMIN1S
(lwtanQ 1,741 Sq Il ,~, !J5.65 .,
1,035 Sqlt ,~, o.~
IIWUl. rl~, IUCI/P/lTIO
~UQr.t"pol' 4(1) Sq It 'v, 20.00
10\11 hllNkd Co,, NN . ,
tin 1't?y'IUI Iullt1loNI hkfllll
\lOp"""" ,.24,564 6,05JI .1 JO,61'/ tulCl'lalllL: 1110'S Olll1W, /lIIl CIlIDI'I'Ia1I1J;
[)eplec.wIl!dVI~.ollmprO'lemenb ., 90,448
....,...v.~tOISltlIImPlln'tmtnb ., - 5,100
HlCAn n VAlli ftYCCfi1 Awnf\l.tU .., 110 54R
IIlM SUIlJlCI COMI'AnAlUl NO 1 to....I'A.llAIUl NO 'I COMI'AllAIIU NO 3
----421ilinllYlW WAY 417 /lUDlIY\LE WAY 418 J1L1llllY\LE WAY 164 1ll}\(l<.!M11111l1
!O'~"LClW_lml, ClW.lUlL , ,~ ClW lUlL , ClW lau,
I'[o~~,"j.,,,,. SIIME.JUL9< _ SlIME 1JlCQ\ 3 111D(1<S,_. '
~::2~'!1i"lA''': :,-:-,=::: ',,!, 1_ j6.ii:JI~'I-lJ2.~ i---i4.67"~' [::~~~ i---BO:90_11~, r.:_~30.OQQ
D.O.""", INSI'I'rfICN MlS/IWLIC ~ MlS/IWLIC REXJ:(Ui MlS/IWLIC ~
VtflllC.llonSouree
iAilJlAojUjlM1~II- Ors_~~rurIlON-=- __J"'ClliPIION- ,; HIIA'~", D1ICllU'11ON ,;_'IIIM,u\, 1lI1C11Il'1I011: HilMI'"
Sa"" 1""<<"1 tolE' IOIE tolE ' -
C'!'I...~..- COf-l_, _~ CIl~ cn~ ,---'
1lI._ol~S'>II""~-,- .___,,' 11-21-95 04-01-96 10-02-95
loCI"" /lVJ:1l/'GE /lVfIllGE /lVI1llGE , IIVfJ.llGE
'u,~~",S!nP.....: FU:_ ,- ~-:-. FU:,_ " "FU: FEE
II. .39~lICIIDl .._, .39 r.aIDi_~_: ,J6 r.cms .35 r.cms
v.. 1IVJ:1l/'GE ,IIVfIllGE IIvrnfGE IIvrnfGE~
~ol'L'';:'P1,,,i'-' RANOL::::::::' RANOL_ _-_.;__, IWOI IWOI -
~~~~_otc~~etlO!'_ axo___ cx:ro_--~--~-~_-._"_ _ o:m_ O:X1:t - :
'1'___..-- 36, ,__ ___ 35 _ ' . 35 "20 ,- -'-- -~j~500--
~,"~ 1IVJ:1l/'GE__lIvrnfGE __~,_c___ ,_ ,__~ IIvrnfGE IIvrnfGE_,.. ,-; -," ----'
A".. Gu" 1001 ; lid''''' \II" 10" ;lId''''; \II" : '0.1 'lid''''; 0.0" '0" 'lid''''' \II" :
RoomC""' J"::j==:i:~ J"':_3_:~2,-=: 7._;3,:2.. 7 ~ 3 : 2 '
\1<O!!J~"'i~"--, ___1, ?~Uq II.. ....I,'l4Uq II:__~_.._,-- ,1.'741 Iq II ;, ~ - i.;60i~sqf~": _:<2,700,
8._1& r_ fUlL fUlL ,roIL roIL
. !!O!.'l"JII~G<'!!_tolE---tolE_,~-_:_--~----- tolE _,__'___"'''__ tolE~ --",~-----
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_ \r'rn!~.~- tolE____~ tnlE_,__ ,_,;_..___, tmE,__.., ;..,-,- -~- 10m", ,--- :-,-,- ,-'-'
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\'or,~PI",IJoe~ pl\1'lO/1'CRJ1 pl\1'lO/1'CRJ1 ; pl\1'lO/1'CRJ1 : pl\1'lO/1'CRJ1 ,
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~ f5JIJM1W- FJVlIL_____:-_u~' FJVlIL__., :,--.. -- FD/Il'I/aJ_.--:---,
!"'^"1J'_O~_ [-I. lXI, '1_,_,_8,000- Ll.t......LXL'L-~.5OO- Lh...J1C'-I,_,3.~00-
MJUstedS1bPrlee
olCom "b. I 124 500 126 500 125 700
Com/l>O" '" 5... comp.",," ("".,.,.. ..,"", propall'. to"",'"''~''' ""I'''''''''"'' ." ,cmPlIRI\BliS ~_J'tSl' ,1lEX:ElIT~
S1\lES,nLllE1~I:x:(U1F-SIMIl1IR ,SIZE. "DESICll. _ AND, /IPI'VIL,../IIL,Fl1\'ME - CElflR/IL,III1l-a:tlIlrrICl1m'
~,--q:z.lP,IIRABUJL1-AND, 2,ARE_rmr-LIKE-SIJIlJfCI'~~ ,/IND ARE_Grynltmr_WElGlI',---,- --
. I
'lll"l (,'-'1(1.
J!;,OOO Cornltltnb 011 Co,1 ArplU.llh l,lIth n, ,nUll! 01 w,1 t\IIll~"'. 'l~ ""'.
,qY'I! hll e.ik.u\lllnn.nd "..IIlIIJ. VA.nd I mIlA. lit. n'"~~ lern.l~Il"J
etOlllUlIICIl'.lllllllPloptlffl ~'.J
[nRlCI~ 01' rom;: W\lClWI, ~ :WII'I' NRI
ICClII. CIlIl1lJ\CIlJI~,
1)6,007
0,796
7.200
8,180
121,06'.>
sm NI'1UJII'11 :1<mOI Nnl ClIIaJIKl'lWS
'~
--.- ------ .----~~---_._-_.--_..~-
1lI"~~~DIO ~UllJiCr-\ ~=~i--\_tniEC=~2 =\ tolEC~A;~N~
SOllrct.loIpllorlla
wltllny!o&~ppl.Is!1 -----.
AnI~'o 01'"1 ,,"",UI,...,..,I 01..., ""~,, "'01 olsu''''' propall'''''''~'' 01'"1 pl.,.... 01 SUb""'''' """,,"bb .,~'" 0", Y'" 01" ,.. 01'""."
~JS tm'_1JSl'EILf9lLS'ILE-lll-UIDElL<;anRJICl'-OCS'ILE' -..,---------------~---
-----.-------------- -------..--.--- --~--------_. ----------~-------~._-
NlCAllDVrJ.lutSAUSC!M'miat-' ---' - ---- -,- ---- ,--------' ---'S::-":,":)25.rx;xl
II)I'.AUnVIJUEBYtlCa.l:APrRMCII I.l klbll! hlllN~fhr'~Httnl $ /Mn I GrnnRtnIMulb VI ..S
1",.,,"11I10 mid. LXI'" 0' Usub",I...,,,.,,,''''I'''', "po:"" """""", "td..Ow LJ "b",I"',,"P'''" pi' pO.. ..po:,I.."..
c...." ~ AoPr.toI ,'lllE,/\PI'AAlSER /ISSll'lES,II~~ ,Tl'I'1E NIJ_'llIAT'llIE, EWllWll' )\SS:X:IATID-Wrlll_
'lliE_~.../\I1E,Jll..~-oroER.~--- -- -- ,- -- -----'~.. ,--- --..---~~--,------
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/\PI'AAlSID. 'I1IE INCXl'lE I\PPlO\OI lIAS ImBIDl lIPPLIID loS TiPIClIL NElGIB:R1XO PfiDPER!Y IS
. ~~ID'ANDN>WJATEIUin'lIL-lY\'l'II,OOESlmOOSl':-_-n--:' "~, --- ,.' ,. ,-:.. --...:~-..:-
1" "rpos' ol.....PP".II... ...ma." ma,"'"'' 01" ,,,' ,ropl'~ lOll" "SUb"'" 0' "" ,opo,t 'I"" '" ...!>m' ""',,,........ ,.".'''", ",".....1
....""'"""...,_,....ma''''''..''''''''''IOIU''..td......''"''I'''''...'I''mll''.lMlorm ,""'0 {\\n'''' 6/9] _ -'
I (VotlLS11lAll 111 MAJmVAllll.ASIXIHD,Il"ll1 \1rJ. "1,nnIY 1I1\151\l IlIlJICllJ 1115 \1PlJII,ASlJ 09-10:96
_ (WICU611/l:0Al[ PlCIDtAtl1llllITlCIMnA1UI1l1S1IItl101081 S 125,000
. AI"1A5IR: ~.... SU'HWi(ll't'Al"WiIIl({JIYIIlOUIIIIlI
so.."" ~ I"""" 10. i \ O. 1101
,_ _ C-J - '
"'!'l'~EL,H., ,CS1,RM, "'" ..po:lP1opl'~
OlIl!J\cplM.1SIgnt'd_SEPrEMBEn.12, 1996. O.IlI!l1trOltS~ned
SJI_~_~~~!~Il!_-RLJ;>002J8-L S\l1I! PA _ 51.1~Ctl'Il1C:ll1011'_
OrStI"'IIr:tMl!' s\I"-PA OISU1I!IlCtn'>!'
hllddIeMaefOlm1OG.~ rMj(2lJl
100mtlA1 .. '101Al ?O('lO".IlIllIIUlwlhllltby .lImodf.1nC:
IU.
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unrotM.ltfOlmlOOt r,'J)
.
,
~
SKETCH/AREA TABLE ADDENDUM
.-.
fileNo' 6-909
s
U
B
J
E
C
T
DotfOWtl/Ollnt
ESTATE OF llAllllA E. WIIAY
Property Hid"..
421 Al.I.F.llDAI,F. WAY
CIty County
CAMP !In.I, CUMnF.RlJlIID
Lind.,
Sill.
PA
Zip COOl
17011
I
M
p
R
o
V
E
M
E
N
T
S
S
I(
E
T
C
H
1J.:>
- - - - CO'oItRED POlCH
U IU
I
21.!1
21.!1
Ca"JO
Ill'
,.'
'.!II
1- _ __
CCMRtO POlCH
RANCH
.orr
34.!1
'v
JD
SCALE: finch . 151..'
A
R
E
A
AREA CALCULATIONS SUMMARY
ArB8 Namo of Aros Slzo Totals
CLA1 FIrst Floor 174'.00 \7".00
POR Porth 100,00
Porch 105.00 213.00
CA' C.r'lI~ 408.50 408.50
LIVING AREA CALCULATIONS
Breakdown
14.00 X 2'.50
30.00 x 48.00
Subtotal.
301.00
11040,00
C
A
L
C
U
L
A
T
I
o
N
S
TOTAL LIVABLE (rounded)
1741
1741
'. W ,N.:. 1,~111_"'-'"
.........'1".
,...
.1'tUUtl.1I1I1
~ A
SCHEDULE C.1
CLOSELY HELD CORPORATE STOCK
INFORMATION REPORT
, .
i~'~~ '
~~
COMMOHWU\tH O. "H",,,\VAtuA
IHH(lll,UiCI "IUIUIH
IUID!""DIClDtH'
PI.a.. Typ. 0' Prin'
ISTATl Of
A. D.lail.d duetlplion ,hawing ,h. m.thod 01 (amputation utiliud In the ,"oluolion o'lh. d.ced.nt', ,IO(~.
B. Compl'I' (opi'l of financial ,tot.m,n" or (ompl.I' copi'l of the fed.ral Tall R,lu'"' (f.deral form 1120) for ,h. y.or 01 d,alh and ..
pr,ceding y.o,.. ..
C. Slol.mlnl of divid.ndl paid .ach Ylor. Ll'llholl d.c1ared and unpaid.
D. Uti nom.. of oHiurl. ,olori... bonu... and any olh., b.n.fil' reuiVld from COfporotion.
E. If the Compo",y own.d "01..101,, submit 0 lilllhowing the campi. I. oddr...I.. and .uimal.d fai, Morhl Volu,".1f R.ol e,lal. App,ailah
ho,". b..n u(u"d, pl,oll anoch copi...
f. U,t pril'\(ipol "oc~hold"l 01 dol. of d.alh, numb., 01 ,har.. h.ld, and relalio",.hip 10 d.ced.nt.
G. Any olh., information "Ialiv. 10 ,h. ,"alualion of Ih. dIC.d.n,', inl".II.
1. Nom. of Corporotion
SIr..t Add"..
Wray's Nusie lIouse,lne,
326 Narket Street
Pennsylvanin
September 26, 197/,
Sial. of Inc.
Dale olln(.
Z;p Cod. 17043 Tolol Numb., of Sho,.hold...
Bu,in... R.po,ting V.a' Dc tabor 1 to
3
September 30
2,
C;ly Lemoyne 5101. PA
Fad.,oll, D, Numb., 23-1935767
150m. AI F.d.rol Form 1120)
Typ. of BUlin... Retail sales
Product
Nusieal instruments
3,
.,
. SHARES OWNED
BY DECEDENT
TOTAL' SHARES
OUTSTANDING
PAR VALUE
STOCK TYPE
Common X
27,026
$1.00
6000
P,.f.tt.d
Provld. 011 ,Ighh and r.."lctlont p.rtalnlng to .ach clan af Itade.
5. Was deCldenl .mployed by the Corpo,ation' 00 V.. 0 No
If yet. POlilionAsst. BaokkeeDe~nnual Solo,y S 5.200.00 Time Dnoled Ie. bu,in.n 5 hours/week
6. Wa, the Co,poration indebted to Ih. dlCed.n,t E{] VII 0 No
If Y'I. provide amount of indeb,ednen S 2.000.00
!Xl No
7. Wa, th.,e lif. in'u,onu payable to the corpo,ation upon deolh of deced.nlt 0 Vet
II ylI. Cosh Surrende, Value: S Nel Proceed, Payable: S
Owner 01 Policy
8. Did Ihe dlC.d.nl "n or 'tonller ,tock 01 this company 'Within one year prio, to death if the dote of dlalh wo, on or ah" 12113/82 or within
t'Wo yeoll if Ihe dale of death wo, prior to 12113182' 0 V.. 00 No
II yet: 0 T,on,f., OSole , 01 Shote, Tran,feree 0' Pureha,er
Date
Consideration S
Alloch 0 "parol. ,h'OI fa, additionoll,on,flu andlor ,al...
Q. Did Ihe corparotion hovl on inlerett in o,h., corporation, or partn.nhip,t 0 Vet (X] No
If yet. "pO,1 Ih. neconary inlormation on 0 uporate Ihul. including Schedule "C.l" or "C.2" for loch interell.
10. Wo, Ihere 0 wrillen .hareholder's ag,.em.n, in eHecl ollhe time 01 the d.ceden"s deotht DVe,
IF yes. p,ovid. 0 copy of th. ogr..menl.
11. Wal the d.Cldenl', IIOC~ ,oldl 0 Yet (Xl No
II Y". p,ovid. a copy of thl agr..m.nl of sol., .te
12. Wo, Ih. cotpofation dinol'ted or liquidated aher Ihe decedent', deatM 0 Vel ~ No
II Y". p,o,"ide a brea~down of liquidation distributions. elc. Alloch a ..parole sheel.
IX! No
...-- --
,--
-,
ESTATE OF NANA E. WRAY
WRA V'S MUSIC HOUSE, IlIiC.
SCHEDULE C-I
MClhod of COlIIllUlutioll - Vuluutioll of Dl'Ccdcllt's ShIck
The value of decedelll's stock was determined by utilizing factors set forth in Revenue Ruling 59-
60, 1959-1 CB 237-IRC Sectiun 2031. These factors are:
I, The nature uf the business and tbe history of tbe entcrprise from its inception,
2, The economic outlook in general l\lld tbe condition and outlook of the specified industry
in particuhlr.
3. The book value of the stock and the financial condilion of the business
4. The earnings capacity of the company,
5. The dividend - paying capacity,
6. Whether or not the enterprise has goodwill or other intangihle value,
7. Sales of tbe stock and the size of the block of stock to he valued,
8, The market price of stocks of corporation engaged in the same or a similar line of
business having their stocks actively traded in a free and open market, either on an
exchange or over-the-counter.
Wray's Music House, Inc, was incorporated on September 26. 1974. The principal activity is
retail sales of musical instruments. These include guitars, drums, speakers, recording equipment, studio
gear, amplifiers, keyboards, master control panels, synthesizers, software, etc, The Company's major
assets are cash, trade receivables and inventory (musical instruments). Inventory accounts for
approximately 85% of the Company's assets. The musical instruments are made from stute of the art
electronic components, The value of the inventory can change very rapidly depending on changes in
technology. In the last five years the Company's sales volume has gone from a low of $1,168,004
(September 3D, 1991) 10 a high of $1,821.821 (September 3D, 1995), With the increase ill sales the
Company's gross profits have decreased from a high of 30.4% (Septemher 3D, 1991) to a low of21.6%
(September 3D, 1995). The nature of the business is very competitil'e, The Company's net income per
books has ranged from a profit of$19,727 to a loss of $114,855 with a five year average loss of $42,986.
The officers (3) have taken IOtal saluries with a high of $78,050 (September 3D, 1992) to a low of
$35,350 (September 3D, 1995), The stockholders have received no dividends during the five year period
ending September 3D, 1995, TIle overall economic climate for Wray's Music House, Inc. has been very
competitive and difficult.
The business is located in the commercial area of an older CClmmunity, where the mix of
businesses is changing rapidly, with very few franchise types of businesses. mostly small locally owned
service businesses. The Company completcs for retail sales in an area which is nflt as desirable a retail
area as a shopping center mall location,
~
..-..
WIlA V'S MllSIC !lOllS.:, INC,
LEMOVN.:,I'ENNSVI,vANIA
CONTENTS
PAm:
ACCOUNTANT'S COMPILATION REPORT. INCOME TAX BASIS
2
CONTENTS
STATEMENT OF ASSETS, LIABILITIES AND
STOCKHOLDERS' EQUITY. INCOME TAX BASIS
MARCH 31,1996
STATEMENT OF RETAINED EARNINGS.
INCOME TAX BASIS
FOR THE SIX MONTHS ENDED
MARCH 31,1996
STATEMENT OF REVENUES AND EXPENSES.
INCOME TAX BASIS
FOR THE SIX MONTHS ENDED
MARCH 31,1996
..
3&4
s
6
2
,-...,
WnA\"S MIlSIC 1I01lSE. INC.
t.EMO\'NE, 1'~:NNS\'t.VANIA
STATEMENT 01' ASS~:TS, t.IAIIILITIES ANI)
STOCKIIOI.IlEllS' ~:OlJJT\' - INCOME TAX IIASIS
MAnCil 31, 1996
ASSHS
CURRENT ASSETS:
Cash in bank and on hand
Accounts receivable, trade
Inventory, cost
Prepaid federol and state taxes
~
S 33,804
37,495
828,332
3.359
TOTAL CURnENT ASSETS
902,990
EQUIPMENT AND LEASEHOLD IMPROVEMENTS:
Equipment
Leasehold imptovements
Total Cost of Equipment and Leasehold Improvements
Deduct: Accumulated depreciation,
amortization and cost
recovery deduction
$54,479
36.562
91,041
52.959
NET EQUIPMENT AND LEASEHOLD IMPROVEMENTS
38,082
TOTAL ASSETS
S941.072
See accountant's compilation report- income tax basis dated May 21. 1996
3
.-..-...
WIlAY'S MllSIC 1I00lSE, INC.
LEI\IOYNE, I'ENNSYLV ANIA
STATEMENT OF ASSETS. L1AJllLlTIES ANI)
STOCKIIOLI)EHS' EQUITY - INCOME TAX liAS IS
MAIlCII 31, t996
LlAJllLlTIF.S ANI) STOCKIIOLDF.I{S' EQUITY
CURRENT LIABILITIES:
Accounts payable, trade
Penna, sales tax payable
Accrued payroll taxes
Due to DWM Properties
Line of credit, Dauphin Deposit Bank
Current portion of long-tenn liabilities
5384,667
~ 10.330
681
7,812
71,054
4,067
478,611
S242,252
56,146
298,398
4,067
294.331
772.942
TOTAL CURRENT LIABILITIES
LONG-TERM LIABILITIES:
Notes payable, stockholders
Note payable, Wray's Music House,
Partnership
Total
Deduct: Current portion of long.tcnn
liabilities
Nel Long-Term Liabilities
TOTAL LIABILITIES
STOCKHOLDERS' EQUITY:
Capital Stock: Authorized capital stock,
100,000 shares, par value S1.00 per
share; issued and outstanding; 30,026
shares at par value
Capital contributed in excess of par
Retained earnings
Total
Less: Treasury Stock, 3,000 shares
at cost
30,026
632
166,093
196,751
28.621
TOTAL STOCKHOLDERS' EQUITY
168,130
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
S941.072
See accountant's compilation teport - income tax basis dated May 21,1996
4
"
.'-'
..-.
WI{A Y'S MUSIC 1I0USE, INC,
LEMO\'NE, PENNSYLVANIA
STATEMENT OF nEVENllES ANn ~:XPENSES - INCOI\U: TAX IIASIS
Fon THE SIX MONTHS ENnm MAnCil 31, 19%
SALES (NET OF nETUnNS)
nATIO
TO
AMOUNT SALES
SI,266,I71 100,0
S 811,325
974,139 ~
7,119
18,258
1,810,841
828,332
982,509 77,6
283,662 22.4
40,620
1,500
434
9,655
18,101
7,935
9,715
15,598
17,204
1,092
23,900
3,407,
3,640
2,353
1,021
119.052
275,227 21.7
8,435 ,7
18,200 ...J..d
(9,765) (,8)
2,824 ---d
S 02.589) J1.2>
COST OF SALES:
Invenlory, beginning
Purchases (net of discounts)
Repairs and tuning
Freight
Tolal
Inventory, ending
TOTAL COST OF SALES
GROSS PROFIT FROM SALES
OPERATING EXPENSES:
Advertising
Clinics
Commissions
Insurance
Interest
Legal and accounting
Medical expenses and insurance
Office expenselbank charges
Payroll taxes
Profit sharing
Rent
Store expense
Telephone
Travel and enlertainment
Utilities
Wages
TOTAL OPERATING EXPENSES
INCOME BEFORE OFFICERS' SALARIES
OFFICERS' SALARIES
(LOSS) BEFORE DEPRECIATION, AMORTIZATION AND
COST RECOVERY DEDUCTION
DEPRECIATION, AMORTIZATION AND COST RECOVERY DEDUCTION
NET (LOSS)
See accountant's compilation report - income lax basis daled May 21,1996
6
.,
.'-'"
r-""
ESTATE OF NANA E. WRAY
WRAY'S MUSIC HOUSE, INC.
SCHEDULE C-I
Copy of Financial Statement as of March 31,1996
Copies of Federal Tax Returns for years ended SCfltcmhcr 30
1996
1995
1994
1993
1992
1991
-
--
Fo"" '1120 u.~. ';orporatlon Income Tax RetL OMn flo, 1545,OI~J
.
OIp&r1menC oltht> Treasury For calondar yallr 1995 or tax yonr boginnlng WI.\, , 1995, ondlng 9.nQ, .199.,6 ~@95
tnlwnal Rhtn\J. Slt'IlCe ~ Instructions mo soparato. SOD pago 1 for Paporwork Reducllon Act Notlco.
A Check I' 0: Uso 1"'.-- o Emplo)'er IdentlncaUon number
1 Consolidated relum 0 IRS *****"'**** 5- DIGIT 170113 23 : 1935767
(attach Fonn 851) labol. ND 23-1935767 SEP96 S28 5995 M I
~ Personal holdltlQ co. 0 C Dolle mcorporalod
(attach 5th. PH) Othar. WRAYS MUSIC HOlJSE INC R 9/26/74
3 Personal IClMC. corp. wise,
III derllled U1 Temporary prinl ar PO BOX 419 0295 o T 01.11 jusel, lst"e p3;e 6 01 t\W\JttIOt\"
R"ls, .ee, 1.441'4T-O typa, LEMOYNE PA 17043
seemslructlonsl
E ChltCk acplicable belles: 111 o IMiJlrl!lurn 121 0 Final return fJ) 0 Ch:\nQo of Md'~!>s $ 948.204
1a Glossrecelpts or sales I 2.386.978 I I bless relurns and allowances I 15.139 I I c aal ~ 1c .371.839
2 Cosl of goods sold (Schedula A, lina B) 2 1 819.219
3 Gross profit. Sub1rnct line 2 from lino 1 c 3 552.620
4 Dlvldonds (Schedulo C, line 19) 4
~ 5 Interost 5
0 6 Gross renls . 6
u
.5 7 Gross royalties . 7
6 Capllal gain nellncome (aUach Schedule D (Form 11201) 6
9 Net gain or (loss) f,om Form 4797, Part U,lina 20 (aUach Form 4797) 9
10 Other income (sea page 7 of Instructlons-aUach schedule) 10
11 Total In coma, Add lines 3throuoh 10 , ~ 11 552.620
';i 12 Compensation of officers (Schedulo E. line 4) , 12 3,..450
c 13 Salaries and wages (less employment credits) . 13 245.229
0
'" '.
u 14 Repairs and maintenance. 14
~ @YCu)
II 15 Bad debts 1'-" {" ..... 15 7.970
" .' \.1'.
c r: '-1' 48.000
0 16 Rents , . . . , I , ,\ 't 1. 16
.. 17 Taxes and licenses . \.( , 17 33.437
c . . , . . . .
0
'" 16 Interest - -.~ 16 38.256
l!
~ 19 Charitable contributions (see page 9 of instructions for 10% limitalion) 19
~ 20 Depreciation (aUach Form 4562) , "20" ' 5'.975" '
Jl : 12101 I 21b 5.975
.. 21 Less depreciation claimed on Schedule A and elsewhere on return
c
0 22 Depletion 22
'"
u 23 91.788
oS 23 Advertising
.!! 24 PensIon, profit'sharing, etc., plans 24 1.092
Z 25 Employee benelil programs Illue. Cross/Blul! Shield, 25 16.643
!!l. 26 Othar deductions (aUach schedule) , 26 73.890
..
c 27 Total deductions. Add lines 12 Ihrough 26 ~ 27 596.730
0
'" (44.110
u 26 Taxable income before net operating loss deduction and special deductions. Subtract llno 27 from line 11 26
~
" 29 Lass: a Nel operating loss deduction (see page t 1 of instruclions) , , -,- 29a I 212 .920-' '
a
Q b Special deductions ISchedule C, line 20) , . 129b I I 29c 212.920
30 Taxabla Income. Subtrocllina 29c from tine 2B 30 (257.030
31 Total lax (Schedule J. line 10) )~ 31 -0-
32 Paymenls: a 1994 overpaymenl creGlteG to 1995 320 1.873
Jl b 1995 eSlimated lax payments 32b
c
a
~ c less 1995 refund applied fo' on Fonn 4466 32c (
"' a Tax depoSlled wilh Form 7004 . 320
0. "
" f Credil from regulated investmenl companies (aUach Form 24391 321
c
.. Credil for Federatl.. on fuels (aUach Form 4136), See instructions 32g 32h 1.873
" 9
{!. 33 Estlmaled lax penally (see page 12 of Inslructions), Check if Form 2220 is aUached ~ 0 33
34 Tax duo. If line 32h is smaller than the total at lines 31 and 33, enter amount owed 34 -0-
35 Ovarpaymenl. 1\ line 32h is larger than tha Iota' of lines 31 and 33, enler amounl overpaid 3S 1.873
36 Enlar amount of line 35 you want: Credited 10 199B estimated tax ~ 1.873 Rofunded ~ 36
UI'ldCt' penalllts of pefJufY. I declare lhall ha\le e.amlned IhlSlelum. Incruo.ng accompJn)lng !.:t:edules and slJlements. and 10 the oost 01 my V\owl~oe and
Sign belief. 1115 true. cont'Cl <1M complele. Ot'Clarallon ot preparer (other than t.upa~er, IS b3Sed on all tnformatlOn 01 'Af1lth prep3fer has any knowledge,
Here ~ ~n.,u,. 01 oH,c., I~ ~ 'f..
Dale Tille
Paid P,.p.,.,'S ~,Z"l\J Ij Q r j A- O.:no I ~hN:k If IPrCP'lfl!f'S soeMI security numbor
Slgnal"o " c' 11 /11/96 ..Il,."'P'O,"" 0 178 ; 38 : 0954
Pre parer's -"-'-~
Firm's f'l;)mo lor ~ R. Wm. Wi're l\ssocia.tcs. P.C. T E'" ~ 23 2031522
Use Only yours .1 !.e:l'l'fTlC10\'l'a}
,,"0.10a,.,, 19 S. 19th St.. C.1m lIill, PA I :"IP ,.~ 17011
p
.. cae
Fonn )120 11995)
~ Cost of Goods Sold (Soo pago 12 of instructions.)
Pago 2
811,325
1,814,613
1
2
3
4
5
8
7
8
1 Invenlory al beginning 01 yoar
2 Purchases,
3 Coslollabor, ,
4 Addlllonal secllon 263A cosls (a\lach schodule)
5 Olhor cosls (attach schedule)
8 Tolal, Add lines 1 through 5
7 Invenlory et end of year ,
8 Cost of goodS sold. Subtract lino 7 from Iino 6. Enter hero and on pogo 1, lino 2
9a Chock all methods used lor valUing closing invenlory:
~) 0 Cosl as described In Regulallons secllon 1,471.3
M Iii] Lower 01 cost or market as doscrlbed In Regulations section 1.471.4
~;IJ 0 Olhe, (Specify method used and a\lach explanallon,) ~ ....,.............................'............................,...........,..
b Chock It there was a wrlledown of subnormal goods as deSCribed In Regulallons secllon 1.471.2(c) . .. Q
o Check It Ihe LIFO Invenlory melhod was adopted Ihis tax year for any goods (If checked, attach Form 970) .. 0
d It Ihe LIFO Invenlory melhed was used for Ihls lax year, enle, percentage (or emounls) 01 closing I I L
Inventory com puled under LIFO , , . . . , ~
. Do Ihe rules 01 seclion 263A (for property ploduced 0' acquired fa, resale) apply to Ihe corporallon? . . . . ,0 Ves Iii] No
f Was there any chango in determining quantities, cost. or valuations between opening and closing Inventory? If "Yes,"
attach explanalion . . . , , 0 Ves
DIvidends and Special Deductions (See page 13 of
Instructions,)
45,130
2.671,068
851.849
1,819,219
Iii] No
Schedule C
(.) Dividends
rocelVed
(e) Special deductIons
(a) x (b)
(b) %
1
Dividends Irom less.than.20%.owned domoslic corporations Ihat are subject to Iho
70% deduction (other Ihan debl.financed stoc~..';'\, t'7' '-::\' 'n' n
Dividends from 20%.or.more.owned domesti c IUIlral,i nU'I,h~1 a~ ~?blec,t \o:'ze
80% doducllon (other than debt. financed stoc ) ., J" J .j. ,\. ,
Dividends on debl.financed stock of domestic a' 0 ign 0, atio~sbetlion 21'., )
Dividends on certain preferred slock 01Iess.than.20%.owned public utllilles ,
Dividends on certain preferred stock of 20%.or..more-owncd public ulili1ies .
Dividends from less.than.20%.owned foreign corporallons and certain FSCs Ihat are
subject 10 the 70% deduction, , . . .' ,...
Dividends from 20%-or-more-owned foreign corporations and certain FSCs that are
subject to the 80% doduction. , . . . . , , . . .
Dividends lrom wholly owned fereign subsidianes subject 10 Ihe 100% deduclion (section 245(b1l
Tolal, Add lines 1 Ihrough 8, See page 13 of Instruclions for limilation,
Dividends from domestic corp::nations received by a small business investment
company operating under Ihe Small Business Investmenl Act of 1958 ,
Dividend. from certain FSCs Ihat are subject 10 the 100% deduction (section 2451c)(111
Dividends from alfilialed group members subject 10 Ihe 100% deduction (section 243(a)(311
Othor dividends from loreign corporalions nol included on lines 3. 6, 7, 8, or 11 ,
Income from conlrolled lorelgn corporalions under subpart F (attach Formls) 5471) .
Foreign dividend gross. up (section 78) " "..
IC.DISC and former DISC dividends not included on lines 1, 2, or 3 (section 246(dll,
Othe, dividends , ' . . , ,
Deduction for dividends paid on certain preferred stock of publiC utilities
Total dividends, Add lines 1 through 17, Enler here and on line 4, page 1 ~
Tolal special doducllons, Add lines 9, 10, 11, 12, and 18, Enler here and on line 29b, page 1
Compensation of Officers (See instructions for line 12, page 1.)
Complete Schedule E only II folol receipts ~ine 10 plus lines 4 through 10 on page I. Form 1120) ore 5500,000 or more.
(c) Percenl of ...ceol 0 c~'llOn
(bl 50Cl31 secunty number limo devoted 10
bUSlnpss
70
2
80
3
4
5
8
In
.a.
I' n
42
48
70
7
8
9
10
11
12
13
14
15
18
17
18
19
20
(8' N3me 01 offICer
(I) Amount 01 compensalion
(e) Preferred
(d) Common
22.2 %
38,9 %
38.9 %
% 3.250
% 15.600
% 15,600
%
%
34.450
34,450
1
Nana E. Wray
William A. Wra Jr.
Nana W. DeStefano
10
100
100
%
%
%
%
%
%
%
526-18-5669
175-40-5844
195-38-9659
2
3
4
Total compensatIOn 01 officers. .
Compensation of offIcers claImed on Schedule A and elsewhere on rei urn
Subtract line 3 from ltne 2. Enter the result here and on line 12, p;'lOO 1
,---.
Pago 3
Form 1120 It99~1
Schedule J
Tax Com
a Il 14 of instructions,)
1 Check if tho corporation is a member 01 a controlled group (seD seclions 1561 and 1563) , ~ 0 ~
Important: Members of il controlled group, ~eo instructlons on pago 14. ~
2a If tho box on lino 1 is checked, enter Iho corporation's sharo 01 Iho $50,000, $25.000, and $9.925.000 taxable ~
Incomo brockolS (in Ihat order): ~
(1) 1$ I I (2) I $ (3) $ ~
bEnt.. tho corporation's sharo 01:
(11 Additional 5% tax (not moro than $11.750) 1$
(2) Additional 3% tax (not moro Ihan $100,000) I $
3 lncomo tax. Chock this box if tho corporation is a qualified personal servico corporaUon as defined In section
448(d)(21 (seo InslNctions on pogo 15). . . , , , . , , , ,', . . , . , , , .~ 0
4a Foreign tax credit (attach Form 1118) , 40
b Possossions tax credit (attach Form 5735) 4b
c Check: 0 Nonconvontional sourco luel credit 0 OEV credit (attach Form 8830) 4c
d General business credIt. Enter here and check which forms are attached:
o 3800 0 3468 0 5884 0 6478 0 6765 0 8586 0 8830
o 8826 0 8835 0 8804 0 8845 0 8846 0 8847
. Credit for prior year minimum tax (attach Form 8827)
5 Total crodlls, Add lines 40 Ihrough 40 , , , ,
8 Sublract linn 5 from lino 3 , . , , . , ,
1 Porsonal holding company lax (attach SChed)'lo.{H (Form 1120)) . ' '"
8 Rocapture taxes. Check II from: 0 Formf~r;PJ [( F~r~ 8611, ... . '
9a A1temative minimum tax (attach Form 4626~' n ,I,U' 'J' ", :,;, ,\ '';
b Envllonmontal tax (attach Form 4626), , '. J ,\, . " . r . '.. . ,I ~
10 Total tax. Add lines 6 throu h 9b, Enter her -and dn hne 31. po 0 1 , , ,
Other Information See a e 17 of inslructlons,
1 Check mothod of accounling: a 0 Cash Was the corporation a U,S, shareholder of any conlrolled
bOO AccNal cO Olher (specify) ~.........,........ foreign corporation? (See sections 951 and 957,). . ,
2 See page 19 of the instNctions and statelho principal: If .Yes," attach Form 5471 for each such corporation,
a Business activity code no, ~,...5.9.9,5,................. Enler number of Forms 5471 attached ~,......,........
b Business aclivity ~..~,'l~.(l.t.l..-'ilJ!;I.~,l;.....,..........
c Product or service ~,I1\1,llJ!;(lJ..;l.\1.l;.t;,...Il..?I,Ip'p.l
-0-
5
6
7
6
-0-
-0-
-0-
-0-
-0-
-0-
-0-
9a
9b
10
3
Did tho corporation at Ihe end 01 Ihe tax year own, directly
or Indirectiy. 50% or more 01 the voting slack of a
domestlc corporation? (For rules of attribution, see
section 267(c),) , , . , . , , , , , , ,
If .Yes," anach a schedule showing: (a) name and Idenlifylng
number, (b) percentage owned. and (c) laxable income or
Qossl before NOL and special deductions of such corporation
for the tax year ending with or within your tax year,
Is the corporation a subsidiary In an affiliated group or a
parent'subsidiary conlrolled group?
II lOVes," enter employer Identification number and name
of tho parent corporation ~ .........'......,...........
At an~ time during Ih. 1995 calendar year, did Ihe corporation
have an interest in or a signature or other authonty over a
financial account in a foreign country (such as a bank
account, secunties account, or other financial account)? .
If "Yes," the corporation may have to file Form TO F 90.22.1.
11 .Yes," enler name of foreign country ~ ,..............
Was the corporation the grantor of, or transferor to, a foreign
trust that eXIsted during the current tax year, whether or not
the corporation has any beneficial interest In il? 11 .Yes," the
corporation may have to filo Forms 926, 3520. or 3520.A
4
Did one foreign person at any time during the tax year own,
directly or indirectly. at least 25% 01: (a) Ihelotal ,"oting power
01 all classes of stock of the corporation entitled to vote, or (bl
thelotat value 01 all classes of stock of Ihe corporation111.Yes,"
D E~ter percentage owned ...................................
b Enter owner's country ......................................
c The corporation may have to file Form 5472. Enter number
of Forms 5472 aU ached ~ ...,.......,.........,........'
Check this box iflhe corporalion Issued publicly ollered
debt InstNmenls With original issuo discount, ~ 0
II so, Ihe corporation may have to liIe Form 8281,
Enter the amount of tax.exempt interest received or
accNed dunng Ihe tax year ~ $ ,~.C?n!'.....,............
If there were 35 or fewer shareholders at the end of the
tax year, enter the number ... ......~....................
If the corporation has an NOL for tho tax year and is
electing to forego the cnrrybnck period, check here'" 0
Enter the avallnble NOL carryover from prior tax years
(00 not reduce it by any deduction on line
29J.I ~ S 212.920
...........................................................
5
Old any IndivIdual, partnership, corporation, estate or
trust at the end of the tax year own, directly or Indirectly,
50% or more of the corporation's voting stock? (For rules
of aUnbullon, seo seclion 267(c),) . , . , . , .
If .Yes," .ttach. scnedule shOWing namo .nd idenlifylng
number. (00 not Include any information already entered
In 4 .bovo,) Enter percenlage owned ~.................
During this tax year, did the corporation pay dividends (other
than stock'c{lvidends and dlstnbutions in exchange for stoCk)
in excess of the corporation's cu"ent and accumulated
eamings and prolots? (See secs, 301 and 316,). , , .
If "Ves," file Form 5452. If this is <1 consolidated return,
answer here for the parent corporation and on Fonn 851.
Afflliatrons Schedule, tor each subsidiary.
6
P'qo 4
Form 1120 ('995)'
16
17
16
19
20
21
22
End of ltl.lt .,cilr
Balance Sheets
Assets
1 Cash ,
2a Trado notes and accounts receivablo .
bLess allowanco for bad debts
3 Invontories. . . . . . . . .
4 U.S. government obligations . . .
5 Tax-exempt securities (soo instructions)
8 Othor current assets (aUnch schedule)
7 Loans 10 slOckholders , , . ,
6 Mortgago and rDal oslalo loans
9 Olho, Invoslmonls (at1ach schedulo)
lOa Buildings and olher depreciablo assels
b Less accumulated depreciation
11 a Deplelablo assels . , , .
bLess accumulaled deplelion
12 Land (nel of any amortizallon) ,
13a Inlangiblo assols (amortlzablo only)
b Less accumulated amortization
14 Other assols (at1ach schedule), .
15 Tolal assels , , , , , . ,
Uabllilles and Stockholders' Equity
Accounts payabla , . . . , , ,
Mortgages, notes, bonds payable in Ie.. than 1 year
Other current liabililles (at1ach schedule). .
Loans trom slockholders , , . . . ,
Mor1gages. notes. bonds payable In 1 year or more
Olher lIabililles (at1ach schedule) .
Capilat stock: a Preferred stock
b Common slock
23 Pald.in or capilat surplus , . .
24 Relalned earnings-Appropriated (at1ach schedule)
25 Retained eamings-Unappropriated . 178.682 133,356
26 Less cost of treasury slock. , . . . . 28 621 28,621
27 Tolalliabililies and stockholders' equity. , 944.729 948,204
Nota: Vou are not required to complete Schedules M.l and M.2 below if lhe IOlal assels on line 15, column (rf) of Schedule L are less than 525,000,
Reconciliation of Income Loss) er Books With Income er Return See a e 18 of instructions,}
Netlncomo(loss)perbOoks , , , , 45.326 7 tncomarecordedonbookslhlsyearnol _
Federallncomo lax , . , . . . . . -0- Included on Ihis relum (ilemize): _
Excess of capital losses over capital gains . Tax-exempt interest S .................'
Income subject to tax not recorded on books .........................................
Ihis year (ilemlze): ....... ................ ,... .........................................
3 359
Schedule M-1
1
2
3
4
Schedule M-2
-0-
133.356
..............................................
8 Deductions on this return not charged
against book income this year ~temize):
a DeprecIation . . . . $............
b Cont!lbutions carryover $...........
5 Expenses recorded on books this year not
deducted on this return (itemize):
a Depreciation . . . . $ .................
b Conlribulions carryover $ .................
c Travel and enlertainment $.... ~,I.~.~~.....
.........................................
.........................................
.........................................
-0-
(44,llO)
..............................................
9 Add lines 7 and 6
. . . . . .
..............................................
6 Add line. 1 throu hS , , , , ,
Analysis of Una
1 Balance al beginning of year . , ,
2 Net Income (loss) per book.
3 Other increases (itemize): ...................
5 Distnbutions: a Cash. .
b Slock
c Property,
6 Other decreases (!temlze): .............
..............................................
.........................................
..............................................
1 Add lines 5 and 6 . . . . . .
8 Ba'arce at erd 01 '.ear 111M J 1''>55 line 71
..............................................
133.356
4
Add lines ~. 2. and 3
. . . . . . .
Fonn
4562'"
~epreciatlon and Amortlzatlc:-'
(IncludIng InformatIon on Listed Property)
OMU ,~O. 1!)45.0112
o.p<fNnt Ollhe YIIUUf')" Atta:hmenl
lnlemal ne'o'enue s.....',. ~ Soo separato lnslrucllon!l. .. Attnch this form to your rot urn. SOQUenCd Uo. 67
Namel!) shown on rolurn DU'If\o!os Of actIvity 10 .....hlch lhl' lonn rol,lIes He t a 11 Identifying number
Wray Music House, Inc. sale of musical instruments & S\i 11 es 23-19~5767
Election To Expense Certain Tangible Property (Section 179) (Note: If you havo any "Listod Proporty."
comploto Part V boforo ou com /oto Part /,
Maximum dollar iim,tation, II an enterprise zone business, see page 1 ot the instructions ,
Total cost of section 179 property placed in service during the tax year. See page 2 of the
Instructions, . , , , , , , . . , , . , , . . , , , , ,
TIlreshold cost of section 179 property before reduction in limitation, , , . , , . .
Reduction in limitation, Subtract line 3 from line 2, If zero or less, enter .0- . . , , ,
Dollar limitation for tax year, Subtract line 4 fror"lino 1. II zero or loss, enter -0-, II married
lilin separate I . see pa e 2 of the instructions , , . . , ,
(a) DescriptiO" 01 property
~@95
1
2
1
517,500
3
4
5
2
3
4
5200 000
5
(bICoS!
(e) Elected COSI
6
7 Usted property, Enter amount from line 27. , , . , , , . " 7
8 Total elected cost of section 179 property, Add amounts in column (c), lines 6 and 7
9 Tentative deduction, Enter the smaller of line 5 or line 8 , , . . , , . , . . , , ,
10 Carryover of disallowed deduction fr?ilj~1~94"S~e"l?ag"'~: 01, the)hstructions. . , , , ,
11 Taxable income limitation, Enter the small~ dl taJo.ablp incorpe (no! I~s$than zero) or line 5 (seD instructiens)
12 Section 179 expense deduction, Ad tibps 9 ~n~;1 0, b~t po' not ar,t~r more than tine 11 . ,
13 Ca ever of disallowed deduction te 19 6,Mdfines96nd fOlle~lineh:l ~ 13
Note: Do not use Part /I or Part 11/ below (or listed property (automobiles, certain other vehicles, cellular telephones,
certain computers, or property used (or entertainment, recreation, or amusement), Instead. use Part V (or listed properly.
ImII MACRS Depreciation For Assets Placed in Service ONLY During Your 1995 Tax Year (Do Not Include
Listed Property.)
Section A-General Asset Account Election
14 If you are making the election under section 168(i)(4) to group any assets placed in service during the tax year into one or more
eneral asset accounts, check this box, See pa e 2 of the instructions, . , . , , . , , , , , . , ~ 0
(bJ Month ilnd (c) B351S lor deprecli1lion (dl Recovery
(a) ClaSSIfication or property year placed in (buslness/,nvostment usa penod ee) Convention (g) Depreciation deduction
service anI --'See Instructions)
8
9
10
11
12
15a
b
3-year property
S-year property
c 7-year property
d 10-year property
e 1S-year property
I 20-year property
9 Residential rental
ro crt
h Nonresidential real
ro ert
Section B-General Depreciation System (GDS) (See page 2 01 the instructions,)
4.036
7.00
M
200DB
MM SIL
Ml1 S/L
Ml1 S/L
t1M S/L
Section C-Alternatlve Depreciation System (ADS) (See page 4 of the instructions,)
16a Class life S I L
b 12-year 12 yrs. SIL
o 40-year 40 yrs. HH SI L
Other De roclatlon Do Not Include Listed Pro e , See a e 4 of the instructions,
GDS a'nd ADS deductions for assels placed in service in tax years beginning belore 1995 , 17
Ptoperty subject to section 168m(l) election, . . . 18
ACRS and other depreciation, , , . , , , , , , , , , , , , , , 19
Summa See a e 4 of the instructions,
Listed property. Enter amount from line 26, , , , . , . , , , , . . , . , , ,
Total, Add deductions on line 12, lines 15 and 16 in column (9), and lines 17 through 20. Enter here
and on the appropriate lines of your retum, Partnerships and S corporations-see Instructions,
22 For assets shown above and placed in service dunng the current year, enter
the oortion of the baSIS altnbutable to section 263A costs , , , , ,
For P.1pcrwork Reduction Act Notice. see page 1 0' the separate instructions.
10/15/95
3.597
27,5 yrs,
27.5 rs,
39 yrs.
88
17
18
19
5 404
156
20
21
20
21
5 975
~~~~'
22
C.lt ~~o ~ 29C€N
Fo"" 4562 . '9951
-,
UTILITY SCHEDULE
--
t., t~'ili! u' 21~~
Namo Wrny's Music 1I00~se.__~c_._____
Addro.. --E.&,-.JlJ!1~-419
l,!!,ll),Q:J'I]e,...J'.1I ! 704 3
Form J.l1Q... __ 5chodulo
50CI.,1 5ecuflly or 23-1935767
Idenllllcatlon tlo. ~______~__._____.
Year Ended _,_~,,,p,tember 30 191f1
Lino.
Year _~
Form 1120. Page 2. Schedule A. Line 5. Other Costs
I II '
:!~!~;~~~~,"~~~;~~~:~:~:~~~:~~:~~~;!:;!:i~}~~:~
........................................................................................................................................................ ........... .,......... ....................................
II
'....'Fo'Iiii"'lTZ'ii';....Pa'g'c..'L'..'LIii';;....if;'..Tnx'cs..'and'..Li'cc'ii'sc's'::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::L::::::::::::::::::::::::~::::::::
I '
~~-:;~l~::;;~~;!"~~;~;f_;--;;==;_~--;: ~-:::~!:t;l:;--;~--:
::::::Fo'Iiii..T'iiii';....Pa'g'c..T;....i:In';;'..Z'(;';..'Ot'i1.cr..'Oe'J;;-c'cIo'iis::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::1:::::::::::::::::::::::::=::::::::
II '
::::::::::::~!?~I~:~I~~~:::::::::::::::::::::::::::::::::::::::::::::::::':<';S:::::tfJ)":::"::":::::::'::::::":::::::':..::.....:::::::::::::::::::::~):5.:r:::::I:::::::::::::::::::::::::::::::::::
..,..,......t~~,~?~~~'..ac'co'unt'in..........'....,..........(.rp,.... ..L~.. ....,I~D.. ......)y[7.. ..,....,..,H.~~g,j,:..,......~..,..,.."'......,........;.........
.................g,.."'.................."'....,........,..IL..,..,.........,....,,^t!]...... ..,Uj,..,.. .. ........'......., ..,.. ......"'..................,.1........"[,,,.."'..........,........,"'....,
,.."'......9..f,t,~~.!:,..!:,~,~!:,!!,?!:....~!:,~,..~,~~~,..~,~.~!,g,e.:i,', ,.....:.................., .. ....:.."...:,..!...., ..,......,..??.!J.~,9.,I..,......L... ...................l.....,..
:::::::::::t.~l~::h:~~~~:~:~:::~:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::J:;:~;}:i:::::::::!l::::::::::::::::::::::::::L::::::
.......,....?;,;:~,~~~,..i~,tn!:~I:,~it~:,:~~,~.....................................'<I-:iI'h...........'.......l..'..............,..,......!'......)................,..,......7........
....,...........'T'rav'eI..'and..'e'n.te'r'ta.iniii;;nt'~..n'c.t.................... '......'........'..'l..............C'Z'f6.. .......,J..,......,..,.........,..~,..,..,..
:::::::::::v~u:m~:~:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::I::::::::::"':1";'25'iq:::::::::iL::::::::::::::::::::::::::::::::::
t I I
..'.........TOT'AL'.................................,..,....,..,..............,..,..,..,..............,....,................ .....,............'..1 .......'....73..;.89'0..: ........'i ...............'..........;-........
........................................................................................................................................................, ........... ........... ..........................-........
::::::.FoIiii..'l'f2'6';....Pa~'e.."i';."Lin;;'..2'ija';...Ne't'..o'p-;;r'a'i:'i'iii"'Los's"'ii-;;d'uct'i! 'n'::::::::::::::::::::::::: :::::::::i ::::::::::::::::::::::,::::::::::::
................,.................,....,.........................,.......................................,................................,....,.......,1.....................,........ .........If..,..,......,.......,.....~..,......
,......,....!'!.\!;~...!?,p..!:,;:~,~,i,!!,g..,~,'?~,~..,::..}D9.!.n.....................,.......,..................,..,..,..,........,..,........,?~,!}~,?..L.......L......,......,.........,:,........
..,.......J!1~,'?!!!!7,..:!:p.p.,~,t,\!;~....::...?l2.9.l.?,?..............,....,..........................,............,......,..,.......I.........,m,!,:?,~,?,L......[,........................,;.........
::::::::::::~;,~:::;::~i.~~:t~:~~\~i::~~:::~?:~Q/?~::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::i!::::::::::~,~~..'..~.~,~,t:::::::~:::::::IH;J:~:L:::::::
,...........~,!:~,...9,p..!:,;:~.~~,!!,g...~,'?~,~..,::,..~D9.!.n....,..,....,..,..,.......................,.......................!f' ............................1.,....,1......, 72.214 .........
..,.........N'ET'..Op'ERAT'iN'C..'L'oss..'oEoii'CTI'oN'..::'..ij'i3'079'6..'..,..,......,....,..,................:..,...........,......,......'t'..,..,+'......2TZ'~'9'2'0:........
:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::1:::::::::::::::::::::::::::L:::::::[::::...................~::::::::
...... Form 1120. Pa~e 4. Schedule L. Line 6. Other Current Assets....................I.,......,L..,.........,...........L,....
..,.........ii.u-;;:..fro;j;..'ii~i}j..Pr'o...c'r'ti;;s....... ...........................,.........,......,....................,.. ....jL..,.... Be g i~~~~g ...., ,;1.,..,.. End i ~~ ::'., ......,
,..........p.r-;;...aId....fede.rai..~nd...s'tat'e..'t'iixe's.........................,....,............,......,......,;1.,...........'1..';'562";........'11.............:f;j5'ij'~,.......
................,..,P".......,...........,....,.........,..,..........,....,...........,.........,........,...............,..,......,.................,'!.."..".....,_'!..,.....,t,......... .........
I I I
':::::::::::~:~~~:~~',:::::::::::::':::::::::::::::::::::,:::::::::::::::::::::::::::::':::::::::::::::::::::::::::::::::::::::':,::::::::::::::li:::::::::::::::~:;:~~~:,:::::::JI'::::::::::::~:~~~'~:~::::::::
.........................................................................................................................................................,.............................,...............................................
........................................................................................................................................................1!.............................l.........;~..........................+........
, '
---.,
UTILITY SCHEDULE
-...
""('i~ IF 27~S
Namo Wray I s Music Bouse, Inc. ____
Add.... P.O. Box 419
Lemoyne, PA 17043
FOlm 1120 Sch.dulo
Social SoculIlVor 23-1935767
Idcnllllcalton No. .___
V.a. Endod -Sgp-tembe.LJQ... 19~
Lino
Yom
Form 1120, PaRe 4, Schedule L, !.ine 18. Other Current Ltbilities
Beginning
........................................................................................................................................................ ......................................
Ending
..........................y........
........................................................................................................................................................,...................................... ....................................
,....,..,.~!;.!;.r.!f,g!!:...P.~l!.r.,l?JJ..J.m~,!UL...........,...........,..........,....,....,..,.........,...........,.........,...........,..........,~,~,7.......,....,.................~,~~...........,
........,..~il:..,~,~J~,!1....!;~,l\,..I!,\\y,!!,~,+,g..,......,..................,....,..,........................,...............................,.....J.Q",9,~,Q...,....................~",!1,9.9...........,
Accrued state and federal taxes 1 203 1 152
........................................................................................................................................................ .......... , ........... ......... t
........................................................................................................................................................ ...................................... ....................................
::::::::::~~:~~~:~:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: l:::::::::::~:~:~:;:~~::: :::::::::1 ::::::::::~:~:~:~:~~::~::::::::
I ,
":f=~~::~"::~~:~:i~-:~":~=~":"~:":~~::~~:--:~;:~::r~l::-~:-~-=;~;~::~~"-:1~~
-""-----------~-m:~-ji--r----- --1--------
::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::~::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::1:::::::::::::::::::::::::::[::::::::r::::::::::::::::::::::::E::::::
:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::1::::::::::::::::::::::::::::::::::::t:::::::::::::::::::::::t:::::::
, If'
, ' ,
::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::~::::::::::::::::::::::::::::::::::::::::::::::::L:::::::::::::::::::::::::::::::::1::::::::::::::::::::::::::::::::::
H I~ 1
:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::11::::::::::::::::::::::::::::: ::::::::::I::::::::::::::::::::::::::r:::::::
:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::][:::::::::::::::::::::::::::::::::::iF:::::::::::::::::::::::F:::::
l! :1 I
:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::'::f::::::::::::::::::::::::::F::::::'F:::':::::::':::':':::::r:::'::
II 'I
A Check If a:
, ConSOlId~ltd ilIum 0
(1lt.1cn FORn 851)
2 p,r&ONI hold,"'l co 0
('Oadl S<:h, Pill
3 PttlOl'WMl'f'CtwP.
lud.r.nedW1TftOP(lt'IIy
hOQ', Me 1 "t-< r-O
IMW'lstr\JC1lOOsl
E Check applicable bout": 111 0 InlllllJ ,etum f2l
1. GIDSS leceipls or 53les I 1.837.8131
2 Cost 01 goods sold (Schodulo A, lino 8)
3 Gross proli!. Sublrnct lino 2 Irom lino 1 c
4 Dividonds (Schodulo C, lino 19) ,
5 Interest
6 Gross rents .
7 Gross royaltlos ,
8 Copilal gain nol incomo (anach Schodulo D (Form 112011
8 Nolgain or Ooss) Irom Form 4797, Port II, lino 20 (anach Form 4797)
10 Olhor Incomo (seo InslNclions-anach schodulo)
11 Tolal In como, Add linos 3 Ihrough 10 ,
!i 12 Componsalion 01 ofllc",s (Schodulo E, lino 4) ,
~ 13 Salarias and wagos Ooss omploymont credils) .
~ 14 RepaIrs and maintenance.
~ 15 Bad debls
a 16 Ronls COpy
g 17 Taxes and liconses : . : :: :. ....:
3 18 Intorest .., . . . .
E 18 Charilabla conlribulions (soo InslNclions lor 10% limilalion)
=
~ 20 Coprecialion (anach Form 45e2)
~
~ 21 Less depreciation claimed on Schedule A and elsowhero on rotum
~ 22 Copl.lion
~ 23 Advenising.
"
.5 24 Ponslon, profit.sharing, olc.. plans
~ 25 Employee bonofit progrnm. ,
26 Olher deductions (anach schodulo) .
27 Tolal deducllon.. Add linos 12 Ihrough 26 ~
25 Taxablo incomo beforo not oporaling los. deduclion and special deduction., Sublrnct lino 27 lrom lino 11
29 Loss:. Nol operating loss doduclion (soo InslNclions), . . , , ,-1- 29~'I' 140.706 I
b Special doduclions (Schedulo C, lino 20) , , I 29b I I 29c
3D Taxable Income. Sublrnct lino 29c 'rom lino 28 , 3D
31 Tolalla. (Schedulo J, IIno 10) 31
~ 32b ~;;::~~i~'::::~;'~:~:~~::edIOI994 ~~ 1.873._
~ c Le5S1994rofundappliedloronFonn4466 32c ( ) d8al ~ 32d 1.873
ll. e Tax deposited with Form 7004 320
'l! I Credit Irom rogulaled Invoslmonl companies (anach Form 2439) 321
= g Credit for Fodernllax on fuols (nnach Form 4136), Soo InslNctlons 320 32h
I" 33 Estimated tax ponalty (SDe In.tnJclions), Chock If Form 2220 I. onached ~ 0 33
34 To. dUe, If lino 32h Is small.. than tho tollll of llnos 31 and 33, onl.. amounl owed 34
35 Overpayment If lino 32h Is largor than tho tolal of lino. 31 and 33, onlor amount ovorpald . 35
36 Enler amount ollino 35 vou wanl: Credited to 1895 o.Um.ted lax ~ 1.873 Refunded ~ 36
Uncler pen.1JlltS 01 perJury. I deda1e U\all have examined ltus relum, InCIudIl'\g accompanyll'lg !oCl1edules ancI slalomenls, and to ItIe be$1 01 my knoMedge and
beI.el. it Is true. correct, and complete. OecLvatiOn 01 ptep.ltl!t (oU'let U\an t..u.payeq 15 based on aU InfOONoon 01 whlch prep3n!r has any knowledge.
~ ~naluro 01 oHeor I 0.10 X ~ {~
Prepare, s ~J n F"\ ,... IJ 11 Date lCheck If !Prep31er's s.ocl.1l socunty numbel
,;gnaIU'; 'd4N\..'.1 (.:~ (--Tn 12/18/95 ,0lf,omployodOl178 : 38 : 0954
~:~"~:~:PloYed,A R, Wm Wtrc Aqqn~<"'nQ P (' I E.l,No, ~ 21: 2011~77
and.dd'o,' ~" 19 S. 19th St.. Cnmn lIill PA I ZlPcodo ~ 17nl1
Foon 1120
~t of.,... rflUUV
InlltNl n~~.
I
.s
"
c
o
'il
~
'D
c!l
Please
SIgn
Here
Paid
Preparer's
Use Only
U.S. Corporation Income Tax Retur~- ,(", (~Md\~'154jo~~~?
For calondar yonr 1894 or tn. ye.. bog Inning ..1.9,(1,,1894, ending 9.1)Q.. ,18 ,?~ t(]tO\~4'
11-0 Instructions orn seporalo. 500 pago 1 for Pnperwork R&<Iuetlon Act Nallea. U~~
.' * * * * ** * *** 5- DIGIT 17043 I 0 Employ.r IdonllncoUon nUm~"
ND 23-1935767 5EP95 528 59'15 M I 23 : 1935767
WRAYS MUSIC HOUSE INC R CO.lo,ncO'J>Or.lod
PO BOX 419 063 9/26/71,
LEMOYNE PA 17D43 S o Tol.ll...." I'" Speor. Inslrucl.ontl
/
I $
I cOal ~
u..
IRS
labol,
Othor'
wise,
ploase
print or
typo,
o Final ullum (J) 0 Char101I 01 oddlMS
I b Los> ralum, .nd allowanco, I 15 . 992 I
, 1'20'1 .
: I 21';T
5;903 'I
I
~
~
~
21b
22
23
24
.25
26
27
25
944.729
lc I 821 821
2 I 428 157
3 393.664
4
5
6
7
8
8
10
11
12
13
14
15
18
17
18
1Q1,{;M.
35.350
175.054
236
44.400
22.214
31.331
5.903
59.674
842
16.391
74.483
465.878
{72.214
140.706
(212.920
-0-
l.873
-0-
1.8P
-.
-.
C'orm 1120 (1994)
Cost of Goods Sold See instructions,
1
2
3
4
5
6
7
6
Pago 2
547.521
1.647.481
1 Invenlory el beginning 01 year ,
2 Purchosos. . . . . . .
3 CO'I ollabc" . . , . ,
4 Additional section 263A cosls (aHach schedule)
5 Olher cosls (attach schedulo)
6 Total, Add lines 1 Ihrough 5 , , . . . ,
7 Invenlory el end 01 yea" , , . . . , ,
6 Cosl 01 goods sold, Sublracllino 7 Irom line 6, Enler he.. end on pago " IIno 2
g. Chock 011 molhod. used for valuing clo.ing Invontory:
o COSI Oil Lower 01 co'1 or markot os descnbed In Regulations section 1.471.4
o Wriledown of subnonnol goods os desc,ibed In Regulalions scelion 1.471.2(c)
o Olhe, (Specify melhod used and attach oxplanalion,) ~ .......,.........................................,~, ................,..,.........
b Check II the UFO inventory method was odopled this tax yoor lor any goods fol checked. attach Fonn 970) , . , , . ~ 0
c II the UFO Invenlory molhod wes used lor Ihls lax year, enler percenlago (or omounls) 01 closing I I L
Inventory computed under UFO . . , . , . , , , . , , , . . , . , , . ~
d Do tho rules of section 263A (for properly produced or acquired lor resole) apply to the corporation? 0 Ves IKI No
e Was thore any chango in detennlning quanlitles, cosl, or valuations between oponlng and closing Invenlory? II -Ves,'
attach explanation , , . , . . , , , , , , , . , , , . ., ..... 0 Ves IKI No
Total special deducllons. Add lines 9,10,11,12, and 16, Enter here and on line 2gb. page 1 . . . . . ~
Compensation of Officers (See Instrucllons for line 12, page 1.)
Comple/e Schedule E onry if /0/01 receipts Oine 10 plus lines 4 through 10 on page 1. Fonn 1120) BID $500,000 or more,
Ie) Percent of .-c..,t 0 corporalJon
(h) Social security number lime devoted 10
buslnMS
20
100
100
~ Dividends and Special Deductions (See Instructions,)
(I) Oividonds
recoived
1
Dividends from less.lhan.20%.owned domeslic corporations thai ore subject to the
70% deduction (othe' Ihan dobt-finonced stock) . . , . . . . , , , ,
Dividends from 20%.or.more-owned domestic corporations that are subject to the
60% deduction (other Ihan debt.financed s~o. 'k-'--..,.,.
Dividends on debt-financed stock of domes end f ign 1lC>ratl ~~. ;on 24M)
Dividends on certain preferred stock of les han .ow u lie ul ies. . .
Dividends on certain preferred stock 0120%'0 .more. ned ublic utili s , , .
Dividends from less.than.20%.owned foreign corporalions and certain FSCs that ora
subjecltolhe 70% doduclion . . . . . , . . . . . . . , . , .
Dividends from 20%-or-more-owncd foreign corporations and certain FSCs that are
subject to Ihe 80% deduction. . , . . , . . , . . . . , . , .
Dividends lrom wholly owned foreign subsidiaries subjeet to Ihe 100% deduction (section 245(b))
Total. Add linos 1 through 8, SeD instructions 10' IImitalion , . . . , . , ,
Dividends from domestic corporations received by a small business Investment
company oporatlng under the Small Business Invostmenl Act 011958, , . , .
Dividends from certain FSCs thai ore subject to the 100% deduction (section 245(c)(1))
Dividends from affiliated group members SUbject to Iho 100% deduction (section 243(a)(3))
Olho, dividends from forolgn corporations not Included on linos 3, 8, 7, 8, or 11 ,
Incomo from controlled lorelgn corporations under subpart F (attach Fonn(s) 5471) ,
Foreign dividend gross.up (section 78) . . , . . . , . , , . . . ,
IC.DISC and fanner DISC dividends not Included on lines 1, 2, or 3 (section 246(d)) ,
Olherdividends . , . . . . , . . , . . , . , ,', ,
Deduction lor dividends paid on certain preferred Slock of publiC utililles , ,
Total dividends, Add Iinns I through 17. Entor here and on line 4, pogo I ~
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
16
19
20
Schedule E
(I) Nama of oMcer
(el) Common
% 22.2 %
% 38.9 %
% 38.9 %
% %
% %
(.) PrelelTed
1
Nana E. Wray
William A. Wray. Jr.
Nana W. DeStefano
526-18-5669
175-40-5844
195-38-9659
2 Total compensation of officers, ,. .",.,..'
3 Compensation of officers claimed on Schedule A and elsewhere on return
4 Sub1r3ct line 3 from line 2. Enter the result here and on line 12. page 1
80
...
In I Ion
42
48
%
%
%
%
%
44.480
2.239.482
81~.325
1.428.157
lbl%
Ie) Spocl.1J deductions
(11'lb)
70
70
.
(f) Amount of compensation
5,200
14.550
15.600
35.350
-0-
35.350
<_1120119941
Pol!)O 3
Tax Com ulatlon Soo Instructions.)
1 Chock II tho corpora lion i. 0 momber 01 a conlrollod C'OUP ('00 socllon. 1561 and 1563) . ~ 0
2a 11 tho box on IIno t Is chocked, ontor tho corporatlon's shnro of tho S50,000. 525,000. ond 59.925,000 lilxnblo
I"cemo brDckots ~n thai ordor):
(IllS I I
b Enter tho corporntion's sharo of:
(II Addlllonal 5% lox (nol mala Ihan $11,750) IS
(2) Addlllonal 3% lox (not moro Ihan $100,000) IS
3 Incomo tax. Chock this box If tho corporation Is n qualified personal sorvico corparntlon os defined In section
448(d)(2) ('.0 in.lrucilons on pago 14), , ' , ,~ 0
4a Foroign tox credil (attach Fonn 1118) , 4a
b Posse..lon. tox credil (attach Fonn 5735) 4b
c Orphan drug crodil (attach Fonn 6765) , , 4c
d Chock: 0 Nonconvonlional sou,co lu.1 crodlt 0 OEV credll (attach Fonn 8834) 4d
. Goneral buslnoss credit. Enlor horo Dnd chock which forms ora attached:
o 3800 0 3468 0 5684 0 6478 0 6765 0 8586 0 8630
o 8826 0 8835 0 6844 0 8845 0 8646 0 6847
1 Credillo, prior y... minimum tox (attach Fonn 8827)
5 Tolal crodll., Add IIno. 4a Ihrough 41
6 Sublract IIn. 5 f,om IIno 3 , , , , , '~'(;} P'Y
7 Personal holding company lox (attach Schedul H (~o 11 ) " ,
6 Rocopluro toxo., Chock II from: 0 Fonn 42 nn 1 , , , ,
0. AlI.maliv. minimum tox (attach Fonn 4626), , , , , , , , , . ,
b Environm.nlal tox (attach Fonn 4626), , , . , , , , . , , , ,
10 Tolallax, Add lin.s 61hrou h 9b, Enler hor. and on IIn. 31, pa 01
Other Information See a os 17 and 18 of Instrucllons,
1 Check m.lhod 01 accounting: a 0 Cash 7 Was tho corporollon aU,S, shareholdor 01 any controlled
b [X] Accrual 0 0 Oth.r (specily) ~...... ,.........., for.lgn corporallon? (See socllons 951 and 957,), , ,
2 R.fer to pago19 of th.lnstructions and stal.lho principal: II 'V.s" attach Fonn 5471 for each such corporation,
a Business activity cod. no. ~...,.....?~ ~?...... ......, Ent.r numb.r of Fonns 5471 attached ~,...............
b Business .ctivity ~...~!:~,l1-A~..~~~,"!'!......."",,, 8 Al any tlma during th. 1994 calondary.ar, did Ihocorporalion
c Preduct or SONic. ~!!;;'~S~~..~!!;;.~:...~..!'!~.I?P'~i have an Inl.r..t In or a signalur. or olhor aulhority ave' a
flnanclni accounl In a lor.lgn counlry (such as a bank
account. socuritlos account. or other findncial account)? .
U.Ve'''lho corporation may hav. to fiI. Fonn TO F 90.22,1,
U.V.... .ntor name 01 lor.lgn country ~ ..............,
Was Iho corporation Ih. grantor 01, ortransleror 10, a forolgn
trust that .xlsted during the curr.nt lox y.ar, wh.lhor or nol
Iho corporation has any ben.ficlallnler.st In i1?U.V....lh.
corporation may havo 10 fiI. Fonns 926, 3520, or 3520.A
Old ono lor.lgn porson al any tlm. during Iho lox y... own,
diroctJy 0' Indirectly, al 10..1 25% 01: (a) Ih.lolal voting power
of all classo. of stock of lho corporation .ntilled to voto, or (b)
tho tolal vniuo 01 all class.. of .Iock 01 1M corporalion?U'Vo."
a Enl.r p.reonlnga owned ~...............................
b Enter ownor's country ....................................
c Tha corporotlon may hav.to fiI. Fonn 5472, Enlo, number
of Fonns 5472 attached ~ ...............................
Chock this box II tho corporation issu.d publicly olfored
dobt Instruments wilh originallssu. discounl, ~ 0
Usa, Ih. corporation may hav. to fiI. Fonn 8281.
Enter tho amount 01 lax-exempt interest received or
accrued during tho tax y.ar ~ S ...,~.'?~!',..............
U th.r. w.r. 35 or.lowor shar.hold.rs altho end 01 tho
tax year, ontor Iha numbor ~ .........~....,............
II Ih. corporation has an NOL lor Ih. lox year and is
eloctlng to forego Ih. c.rryback ponod, chock hore ~ 0
Enter tho availablo NOL cnrryover from prior tax years
(00 not reduco it by any deduction on lino
29a\ ~ 5 140.706
Schedule J
(2) I S
(3) S
-0-
~
4e
41
5
8
7
8
ga
Ob
10
-0-
-0-
-0-
-0-
-0-
-0-
-0-
Schedule K
3
Did Ih. corporotlon allh. end ollh.lox y.ar own, directly
or Indi,ectly, 50% or mar. 01 tho voting slack of a
dom.stlc corporation? (For rul.. 01 attribution, sa.
soctlon 267(c),) , , . , , , , , . , , .
U.V.... .Uach a schedul. showing: (a) namo and Idenlilylng
number, (b) percentage owned, and (c) laxabl. incomo or
Qo.s) boforo NOL and special deductions of such corporalion
for the tax year ending with Of within your lax yow.
Is tho corporallon a subsidiary In an affilialed group or a
par.nl.subsldlary conlroiled group?
U 'Ves" .nt.r employ.r Id.nliflcallon numbor and namO
of Iho paronl corporallon ~ ............................
4
..........................................................
5
Old any Individual, pnr1norshlp, corpora lion, .stalD or
tru.1 allh. end 01 tho lax yoar own, directly or indiroctly,
50% or mar. of tho corporation's voting stock? (For rules
01 attribution, so. soclion 267(c),) ,
U.Ves" attach a schedul. showing namo .nd Id.ntllylng
numbor. (Do nollncludo MY Infonnalion already .nlered
In 4 obov.,) Enlor percont.ga owned ~......... ........
During this lox yoar, did tho corporalion pay dividends (other
than stock dividends and distnbutions In exchange for stock)
In excess of the corporation's cuncnt and accumulated
earning. and profits? (5ea secs, 301 and 316,) ,
II .Ves" !cra Fonn 5452, If Ihis Is a con.olid.lod ..Ium,
answer hero for the p<1Icnt corporation and on Form 651,
AffiliatIons Schodule. for each subsidiary.
8
,-.,
'orm 1120119941
PiJgo 4
Schedule L
Balance Sheets
Assots
1 Co.h , , , , , , .
24 Trado notos nnd DC counts rocoivnbro .
b loss allowanco for bad dabts .
3 Invontorlos . . . . . . . .
4 U,S, govommonl obligollon. , . ,
5 Tax.oxompt socuritios (soo instrucllons) .
8 Olhor curronl o..ols (oUoch .chlldulo)
7 Loons 10 slockholdors , . , ,
8 Mortgogo and ..01 oslolo loons , ,
9 Olhor inve,'menl. (oUoch schlldulo) ,
lOa Buildings and olher depreclablo o..ols
b Loss occumulaled depreclalion
110 Deplelablo assols . . . ,
b Less accumulated doplotion .
12 Lond (nol 01 any omortizolion) .
130 Inlangible assots (amortizablo only)
b Less accumulated omortlzolion
14 Olhor o..els (eUach schedulo). .
15 Totalassols . , , , , , ,
UCnlnnlnC] 01 tnx yonr End of tax year
(0) (b) (c) (d)
;;%JJiiif~~J9;l@: _wp;~45 . ~'%w'i~jM%5-jf; 13.930
82.755 l@:__.wif% 76,665 i%.~"i%. ~J!ii
( -0-) 82.755 ( -0-) 76.665
~f~'..i@;..,_ __..% 5.500
r,.. _
75,678 i%. ~ ~~ 87,444
44.232) 31.446 50.135
w;. i%.
Uabllltles and Stockholdars' Equity
Accounls poyablo . . . , , , ,
Mortgages, noles, bonds payable In le..thon I yeor
Olher currentliabililies (oUach schedule) , ,
Loans from slockholders , . , , , ,
Mortgages, noles, bonds payable In 1 yeor 0' more
Olhor liabilities (oUoch schedule) ,
Copllal slock: 8 p..ferred stock
b Common slock
23 Paid.ln or capllal surplus . . ,
24 Relained eamings-Approprialed (aUach schedule)
25 Relolned eamlngs-Unapproprialod , 251 698 178 682
26 Less cost of treasury stock, . . , , , 28 621 28 621
27 Tolalli.bllllies and stockholders' equity, , 706 822 944 729
Nole: You Brn not required to complel. Schedules M-I and M-2 b.,ow if the total BSS.ts on IIn. IS, column (ef) of Schedule L are I.ss Ihan $25,000,
Reconciliation of Income Loss) er Books With Income er Return See Instrucllons.
Notlncom. ~oss) por books , . . , (73 .0 ) 7 Incomorocorded on books Ihls ye.. nol _.
Federollncome lax , . . . . , , , Included on this rotum (llemlz.):
Excess of capital losses over capital gains .
,"~m.."''' ~ ~ """'" 00 ~.. 16 '~::::":"".:::".'.::::::::::: .
this ye.. ~I.mlze): ...........,..,............ ..,..........................,........,..
16
17
16
19
20
21
22
86.311
285.146
11.880
376.136
Schedule M-1
1
2
3
4
5 Expenso. rocorded on books Ihls ye.. nol
deducted on Ihls retum (llomlze):
o Oeproclalion . , . . $ ..,........,....,
b Contributions carryover $ ,................
c Travel and enlerteinmonl $ ....,~.9.~,......
Deductions on this return not charged
egoinsl book Incomolhis year (ilemize):
a Depreciation . , . ,$ ...........
b Contributions carryove, $........ ..,
..............................................
..............................................
9 Add IinDS 7 and B
B
Schedule M-2
1 Balance at beginning 01 y... , , ,
2 N.tlncome (loss) per books , . .
3 Olhor Increes.s ~Iemlzo): ...................
a Cosh, ,
b Slock
c Property.
6 Olher decreases (itemize): ..........,..
..............................................
4
7 Addline.5and6 , , , . . ,
8 Balance ill end of year .Iine 4 less line n
-0-
178 682
Add lines 1, 2, and 3
178.682
Fonn 4562
Depreciation and Amortization
(Including Information on Usted Property)
OIAD No, 1545-0172
~@94
J.ttltchmont
Sequence No, 67
IdenUtylng number
23-1935767
BUSIness 01 acUvUy 10 .....hlch Ihit fonn ,elales
Rctail salcs of musical instrumcnts and supplics
mm:D Election To Expense Certain Tangible Property (Section 179) (Note: If you have any .Usted Property..
com lete Parl V before ou com lete Parll,)
1 Maximum dollar limitation (If an enterprise zone business, see Instructions,) , . . ,. 1 S 17 500
2 Total cost of section 179 property placed In service during the tax year (see Instructions) . 2
3 Threshold cost of section 179 property before reduction In limitation, . . . . . .. 3 200 000
4 Reduction In limitation, Subtract line 3 from line 2. If zero or less, entet -0- . , . .. 4
5 Dollar IImilatlon for tax year, Subtract line 4 from line 1. If zero or less, enter -0-, ot married
filln se aratel , 500 Instructions,), . . . , , , , , , , ' . .. 5
(I) Ooscnploon 01 property lb) Cas' lei EloclDd eost
~l of IN TrMWY
k'it1rNl ~~ s.....-.c. (091 ~ Seo sepnrnle InstnJctlons.
Name(l) ~own on 'etum
Wrny's Music House, Inc.
~ Allaeh thl. lonn to your ",'urn.
7 Usted property, Enter amount trom line 26. . . . . . . . .. 7
8 Total elected cost of section 179 property. Add amounts In column (c), lines 6 and 7 8
9 Tentative deduction, Enter the smaller oteae'~' . . . . , .. 9
10 Carryover of disallowed deduction from 93 S Inst .' . . . . . . .. 10
11 Taxable Income limitation, Enter the smaller oft n 0 essthan , ro) or line 5 (see Instruc1lons) 11
12 Section 179 expense deduction. Add lines 9 and 10, but do not entet more than line 11 ., 12
13 C over of disallowed deduction to 1995. Add lines 9 Dnd 10, less line 12 ~ 13
Note: Do nol use Part /I or Part 11/ below (or IIsled property (automobiles, certain other vehicles. cellular lelephones,
certain computers. or property used (or entertainment, recreation, or amusement). Insteed, use Part V (or listed property,
ImII MACRS Depreciation For Assets Placed In Service ONLY During Your 1994 Tax Year (Do Not Include
Listed Pro e
8
(I) Cl.usifoeallon 01 propol1y
lb) Mon.n II1d (el e.... I'" doprOCI3Uon (eI) RocoVtlt'(
year placod In (buslnMSllnVMlment use period
service on Inslructlons
Section A-General Depreciation System (GDS) (see Instructions)
14a 3- ear property
b 5- ear property
c 7.year property
d 10-year property
e 15-year property
I 20-year prope
9 Residential rental
ro e
h Nonresidential real
ro e
6.352
5 yrs
MQ
00 DB
MM S/L
MM S/L
MH S/L
MM S/L
Section B-Altemetlve Depreciation System (ADS) (see Instructions)
S/L
S/L
S/L
27.5 rs.
27.5 yrs.
39 yrs.
5
5 414
4 1
15a Class life
b 12- eat
c 40-year
rs.
12 rs.
40
MM
ImIIJ Other Depreciation (Do Not Include Listed Property)
18 GDS and ADS deductions for ossels placed In service In tax years beginning belore 1994 (see Instructions) 18
17 Property subject to section 16B(Q(1) election (see Instructions) , . 17
18 ACRS and other de reclatlon see Instructions . , , , , , , , . , . , . , .. 18
Iml!I Summary
19 Usted property. Enter amount from line 25, . . , , , . . . , . . , , , , ., 19
20 Total. Add deductions on line 12,lines 14 and 151n column (9), and lines 16 through 19, Enter here
and on the apptopriate lines 01 your tetum, (Partnerships and S corpomllons-seo Instructions) 20
21 For assets shown above and placed In service during the current year, enter
the portion of the basis at1Joulable to section 263A costs (see Instructions) 21
For Paperwork Reduction Act Notice, Boe pane 1 of tho soparato Instructions.
(g)llep<eeIaUon dDductlon
1,182
64
4.501
156
5.903
UTILITY SCHEDULE
Nama
Addross
Wray's Music House.
P .0. BOl< 419
Lemoyne. PA 17043
1120
Llno
Inc,
Schodulo
Form
,."...",
,\tc.l!! Tf 21!l!J
Social Securlly or 23 1935767
Idonhllcallon No, -
Yoar Endod ~tember 30
Year
Form 1120. Pa e 2. Schedule A. Line 5. Other costs
......"'....jfeji'iiIrs..'ii'ii(j...tuillng.....'....'.....'."...'.'.'....'..'...."'................."'.."..'.."'..'........'....."......'..''15''..09'1'I......",
:::::::::::::~:~~:~~~~:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::'29':'38iil::::::::
19..2.5
,.,...'.....TOTX'C..................,..,.......,..,...,',....,..........,.......,........,..,....,..,..,...."....,..,.........,............,... .............44..;.480' ,..,..... ",.,....'"....."....... ........,
........................................................................................................................................................ .......................... ........
:::::::.F~'i;;;.''i:'r2'O';'..,p-;;;;'~'..'i';'..Li;;-~....i'7';.."T';;~.~-;;...;;;;-d'..Li'~~'~'~~.~':::::::::::::::::::::: ::::::::::::::::::::::::::::: ::::::::: ::::::::::::::::::::::::::t::::::::
...........,.........,............,.. ............,.......'....T.......
..........:,,~l.,Qll, ..,..,.., ,....,...................,.,.......
............",l.,~O,3, ..,..,..' ,..,...............,.....,1..,.....
..,'..'....'TOTA'C..............."..,................,.............,...........,'",...................,....,..".........'....,..,..,......... .....,.......'..........,.... ........, ",..........,..,........,1.".....
..,.........,..................,..,..,........,.........,...."..........".........,..,............,......',............,............................, 22 . 214 ,.........,...............1.......,
....,..........."...............,............................................,..,......"..........".......".............,.......,.,.............".. .."..,...,................. ",....,....,..,.........,1..,.,..,
Form 1120 Pa e 1 Line 26 ....,..,......... ............................, ......... ..........................1........
::::::::::::::::::::::::::t::::::::
'....,...........'........t.......'
.................................................................................
,....,......!;,'?!!!I1!J.l1.l1J.!?,n.I!............,....,......................,
............P..Il!Ml..................,.......,......................,....,..........................,.........,....,................,.......,........
.......,...J,lJl1.\!Ii!.n.~~,.......,.....,......,.....,....,.............................,.."..............,..,........"..........................,.......U..I,?~,9..........,
............t-.!!&~1...~.IJ~,..e!;,g!?\!,n,~.!.IJ&......,........"....,.....,....,....".....,...,....,...........,..".................,..,......JJ...,?,~.~"........,
......,.....Qg.!,c;,~,...!!~p.,I;!.!}.~~....~.IJ~,..~.~,IJ~,..~!),~,;:&~,I!.........",...,......."..,....,...,........"....,....., .........,..~.?,.J9}, ,.,.....'
....,.......~,!:!?,r.,I;!;...~MI?P.,:JJ,~,I!.,.......,............................,......,"..,..,..,..,.....,..,.,..."....,..............,........ .."........,'~,J,~,?g., .........
,..,.,.....I,!!J.~p,h!?.IJ~,............,....,......"....,.........,...........,..............."..,...........,.."....,..................,.."..,....,.,....~,.,g~},.....'..'
Travel and entertainment 1 604
.....'.......,..................,........................."........,...,....,........,....,..............,.....,..,..........A"..................".. ....................."...... ......,..
Sec. 274n disallowance 802
....,.........'..Tr;.v~I...;;;:;d'..;;~'t;;it;.i'~;;;~'~'t......n~'t"..".,..,..........,....... ,.............,
.................................................................................1......................................................................
UtilitieR
........................................................................................................................................................
........................................................................................................................................................
...........I~y..r..c?J*-..~,!!~~.!L......"..,............................,..,........,.......................,................,..........
.."....,..,?!!!).n,'1..,...!;,!?,;:l'.!?,;:i!;~J!?.!L~,!!,~~,!!................."...........,,,,,......,..,..........,,,......,..,,,,.....
........................................................................................................................................................
TOTAL
........................................................................................................................................................
........................................................................................................................................................
'...., Form 1120. Palle 1. Line 29a. Net Operatinll Loss Deducti n
::::::::::::~:~:~::::ij,p.:~i.~:g~~:::!:~~~:/::v~p.z:?~::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
,..........,~!!~,~!!!!!....I!:p.,p.,~!,~~....::..'~7~g7~'~...."..,..,........,.........,........"";..,....,,,....,.............,....
,,,...,....,~!!~.~!!!!!...:!:p.,p.,~!,~~,..::..,~...~g...~,~......................,.........,..,................,..,..........,..........
,...........~.~~..,!?p..~.~!!,~,~!!,~...~.~,'!,!!...:::,..?!..~!?!..?~..,............,.................,..",............,...............
,..'........ifEr..OPERAT'fNC..'Lii'ss'..oE'iiucri'iiN'..:...9't:i'ti7g's........................................
........................................................................................................................................................
......,....,..,~,Jl?~..........,
.............J,J,?.U........,,'
.............................J........
....,..,.."..",..,~9.~.. ,....,,,,
1.202
74.483
....".....'66.;'36'9.. ....,....
..'..'....('2:i';'SI5. .........
::::::::X23';-55'6') :::::::::
........................................................................................................................................................ ......................................
...... Form 1120. Palle 4. Schedule L. Line 6 , Other Current As...!U!!.................... ,........
Be innin
.......................................................................................................................................................
,:::::::::::p.:~~3i.!im:::ii~:::~~:!ip.~:~:f.i~~::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: ::::::::::::~~~:~~~:: :::::::::
.., .........?I,~.E,!!.:!-,~..,,;,~!:\~,!:.!!!.,,,t!:!),~..,l1,~i!;~,!!..,t~~,~.~......,..,......,,,.............,.......,,.....,.......... 5 . 9 7 3
........................................................................................................................................................
TOTALS
........................................................................................................................................................
........................................................................................................................................................
........................................................................................................................................................
.......................... ........
::::::::::::::::::::::::::IJ.:::::~:
.......................... ........
.......................... ........
....................................
::::::I~:;:?~~:::f:::::::
....121.408..'.......,
.....1'40';';;0'6'.. ........
..,.... End i n!l...
,.."...........?}~..,
..........4.562..
35.655 5 500
........... ,........,",.......~..,.......,
'........"................"j'........
I
,.-.-,
UTILITY SCHEDULE
,..,....t.
(~~ tf 2n~
Name
Addros.
Wray's Music House,
P .0. Box 4 19
Lemoyne, PA 17043
Form 1120
Inc.
50C131 Socurlty or 23 1935767
Idonl,"ca\lon No, -
Voar Endod September 30
19 95
Schedulo
LinD
Voor
Form 1120,
Pa e 4,
Schedule L,
Line
18, Other Current L
........................................................................................................................................................
...........Ac.crii'iid..(iii'y'rol'f"'elix.cs..'................................................................,........,..,....,
'......'..'PA..s'iiIe's..'t'iix'..pliy.iillI'c............'....................'.......,.....,........",.....,..",...,.............. ....'.........4';'6'38.. ......, '......Iii';'(j'30...c....'...
".......'Ac.crii'iii:i.."st'ii'fe..''iiii'iI..'f'cde'rii'l....fiixe's'....'........,..,...."................................... ....'.........1';'4'[1'.. ,......" ..,..,....1';'2'0'3..+.......
'....'....'Li'iie...of'..crcdi'e';....oliii.pfii'ii'..o.ii'p..o.si't""jj'ii'iik...,..........................,..........,... ,....'...."7'9';'5'80.. ........' ,..............:::o'::.'.,~........
........................................................................................................................................................ .......... .. ......... ..~........
I
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...........................,....................,..,....,..................,.........,........,...."..,........,......,................................ .....,.... ..,........ ...... '.r.."...
...............................................................................,.......,..............,....,........................................... ,..".,'.',...'.....'"....,,',',...',','..,..,..,,',...,..,',',','...,...', '....'................'...j"..'.'
....................................................................................................................................................... ...................................
..,........................,..",...."..,....",........................,..,..........,......................,..,..........,.......,..,..,..........,' ..........,....,.............,........ ,..,..,.........,......,..1........
"......................................................,..,....,...................................."..,..,..............,..,................,....... ..,..,......,........."...."......., ..,..,....................1...,....
..,..,......................................."....................,.....,..,........,..,..................,...............",..,..,.."...........".. ............................' ........' ',',',',','"...,...."..,,'...,',',','.'.,.,',...,1',',.'...,',','.
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.................................................................................. ........... .......... .... ....................
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........................................................................................................................................................ ............................ .........
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........................................................................................................................................................ ......................................
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......................................................................................................................................-................ ............................. .........
......................................................................................................-................................................ ............................. .........
....................................................................................................................................................... ......................................
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....................................................................................................................................................... ......................................
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........................................................................................................................................................ ......................................
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...................._..~...................................................:.......................................................................... ............................. .........
..........................
-- .-...
U.S. rporatlon Income Tax Retur,
F~, carondar year 1993 or tax year b"9,nmng q~,t J ,1993, endIng St!1' t.. }O, 19 ?,I,
~ Instructions are sOJ)ilrate. Seo page 1 for Pnperwo", Roduction Act NolleD.
NJmo 0 Employer itJanllflc.tJon numb.,
Wray's Music 1I0ust!, Inc. 23 1935767
Number, $lrccl. and room or SUlto no. (If a P,O. bol, !oM pJgo 1 01 instructions I C 00110 IncorDOraled
P.O. Box 419 9/26/74
A Check" a:
1 Con!.Ohdal~ return 0
(attach Form 8511
2 PO<>OnaI holdJlg co, 0
,a""," Scn PHI
3 PefSONI SM1Clt corp.
(as dertne'd 11\ T M'lporMy
~f9S sec. 1 Ul..u-O
set Il'\SlructlOnSI
E Check applicable bOles: (1) 0 1M tal return f2I
1a Gross rece'plS 0' sales 1 1,298,4641
2 Cost of goods sold (Schedure A. line 8)
3 Gross profit. Subtract lIne 2 from hne 1 c
4 Dividends (Schedule C, line 19) .
5 Inlerest
6 Gross rents.
7 Gross royalties .
a Capltal9aln net income (attach Schedule 0 (Form 1120))
9 Net gain or (loss) from Form 4797, Pan II, line 20 (attach Form 4797)
10 Other income (see instructions-aHilch schedule)
11 Totallncoma. Add lines 3 throuoh 10 ,
12 Compensation 01 officers (Schedule E, line 4). , . ,
138 Salaries and wages 1 185 . 185 lib Less employmenl credItS 1
14 Repairs and maintenance.
15 Bad debts C' 0' py
16 Rents '" .".
17 Taxes and licenses .... .
18 Inlere.t , , , , , , , , , , ,
19 Charitable contributions (see instructions tor 10% limitation)
20 Depreciation (attach Form 4562)
21 Less depreciation claimed on Schedule A and elsewhere on return
22 Depletion
23 Advenising,
24 Pension, profit~shanng. etc.. plans
~ 25 Employee benefit programs
26 Dlher deductions (attach schedule) ,
Z1 Total deductlons, Add lines 12 through 26 ..
28 Taxable income before net operating loss deduction and special deductions. Su,btract1lino 27 fram line 11
29 Less: 8 Net operating loss deduction (.ee instructions) . , , , , ,1298 19.2981
b Special deductions (Schedule C, line 20) , , 1 29b I 1 29c
30 Taxable Income, Sublract lino 29c Irom line 28 30
31 Total tax (Schedule J, line 10) 31
E 32b ~:;:;i~~:~~:~:~::~::edl.t993 ~= 1;87' _
..~ c Less 1993 relund applied lor on Form 4466 32c ( . ) d Dal.. 32d 1 873
a Tax deposited with Form 7004 32e
1! I C,edlt Irom r"9ulated Investment companies (attach Form 2439) 321
: g C,edit fo, Federal tax on luels (attach Form 4136), See instructions 320 32h
{!!. 33 Estimated tax penalty (see inslructions), Check il Form 2220 I. attached .. 0 33
34 TlU due. II line 32h I. smaller than the total 01 lines 31 and 33, enter llIT10unt owed 34
35 OVerpayment. II line 32h is large' than the total of lines 31 and 33, enler llIT10unl overpaid 35
38 Enle, llIT10unt 01 line 35 you want: Credited 10 1994 esllmated lax" 1.873 Relunded .. 38
Under penalties 01 pef)Ury. I decLlre U'1all have e.aarruned ltlls return. IOCludlng accomPJ1lYll'19 sctIedutes and statements. and 10 the tln! 01 my knov.1edge and
bebef, i11s true. COtTect. and complete. Oetl.1tatJon 01 pfep.1tef (other tt\an t.u.payer) is tla5<<I on a1llnfOrTNhon 01 whlCtl preparer haS any knowledge.
~ ~:"tu'eolofficer I~ale ~ '~e
Preparer's , ~ I'T f\ r A.A Date I Check if' I Prep.1tef's socaal SecU'lty number
SlgnalUfe , ~ ,1/ ( ,.. ( ./rR 11/14/94 seU,employed 0 I 178: 38 : 0954
Firm's name ,or I)~ R~Wm Wlr'e Associates P C I E.lNo, ~ 23 : 2031522
youf3 rt serf.employed) .. . .
and eddre.. 19 S. 19th St. Camo 11111. PA I ZlP COde ~ 17011
- ' .
F~ ,1120'
OI>panm.nt oll~ TrNSury
1"I..-n.lJR..~.SIltYOC.
Use
IRS
label,
Other'
wise,
please
print or
type,
City or lo.....n. s.t.1le. and ZIP cooo
Lemoyne, PA 17043
o TOlo1l nsets ISM Spccrf>e InStf\JCI10nSI
o Final ralurn (31 [XJ Ch3nqe of addres5
Ib LesSlelums and allowances I 5,062 1
$
I c 8,i ..
~
o
"
.5
2
3
4
5
6
7
8
9
10
11
12
13c
14
15
16
17
18
19
"
..
oi
~
U
~
1
-0-1
I cBar..
c:
o
..
~
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S
~
, "20'1 '
, 121a I
4~298'1
I
~
.2
..
c:
o
u
il
..
.5
21b
22
23
24
25
26
27
28
..
c:
o
.,
"
~
"
..
c
Please
Sign
Here
Paid
Preparer's
Usa Only
H732
Cat No. 114500
OMU ,",0 '~45.01n
~@93
706.822
lc 1,293.402
945.111
348.291
6
11.R ,?Q7
45.225
185.185
3.381
43.800
21 408
31 626
4 298
50 360
1.327
11.957
71 138
469.705
021.408
19.298
(140 706
-0-
1 873
-0-
1.873
~~f'j~ 120 ~1993;
>""",
Paqo 2
Cost of Goods Sold See Instructions.
1
2
3
4
5
6
7
6
574 792
894 001
1 Inventory at beginning 01 yea,
2 Purchases.
3 COSI of labor .
4 Additional section 26JA costs (allach schedul~1
5 Olher coSlS (allach schedule)
6 Tolal. Add lines 1 Ihrough 5
7 Inventory at end of year.
8 Cost or goods sold. Subtract line 7 from line 6, Enter here and on page " hne 2
9a Check all methods used lor valuing closing inventory:
o Cost IX] Lower 01 cost or market as described in Regulations section 1.471.4
o Wrltedown 01 subnormal goods as described in Regulations section 1.471-2(cl
o Olher (Specily melhod used and allach explanallon.) ~ .................................................................................
~
b Check il Ihe LIFO invenlory melhod was adopled Ihls lax year for any goods (il checked. allach Form 970) . . . . . .. 0
c II the LIFO inventory method was used lor this tax year. enter percentage (or amounts) 01 clOSing I I L
inventorycomputedunderllFO . . . . . . . , . . . . .. ..... ~ '
d 00 Ihe rules of seclion 263A (for propeny produced or acqUired lor resale) apply to the corporallon? . . . . . 0 Yes
e Was there any change in determining quantities, cost. or valuations between opening and closing invenlory111 .Yes,"
allach explanation . . . . .. ............... . . 0 Yes
23 839
1 492 632
547 521
945 III
IKJ No
IKJ No
~ Dividends and Special Deductions (See instructions.)
(I) Dividends
received
lb)%
(e) Special deductions
(I) x lb)
1
Dividends from less-than.20%.owned domeslic corporations that are subject to the
70% deduction (olher than debl.financed stock) . . . . . . . . . . .
Dividends Irom 20%.or.more-owned domestic C'O:e~o e
60% deduction (olher Ihan debt.finanCed stock) .. .. ...
Dividends on debt-financed stock of domestic an' I (sectio 46A)
Dividends on certain preferred stock of less-than.20%-ownecl public utilities. . .
Dividends on certain preferred stock or 20%-or-more-owned public utilities .
Dividends from less-than-20%-owned foreign corporations and certain FSCs that are
subjecl to the 70% deduclion. . . . . . . . . . . . . . . .
Dividends from 20%-or.more-owned foreign corporations and certain FSCs that are
sUbJect to Ihe60% deduction . . . . . . . . . . . . . . . . .
Dividends from wholly owned lorergn subsidianes subjecllo the 100% dedUCIlon (section 245(b)1
Total. Add lines 1 through 8. See instructions for limitation . . . .
Dividends from domestic corporations received by a small business investment
company operaling under Iho Small Business Inveslmenl ACI of 1958. . .
Dividends from certain FSCs that are subjecl to the 100% deduction (seclion 245(c)(I))
Dividends from affilialed group members subject to the 100% deduction (section 243(aK311
Other dividends from foreign corporatlons not included on lines 3, 6, 7, 8, or 11 .
Income from controlled loreign corporalions under subpart F (allach Form(s) 5471) .
Foreign dividend gross'up (section 78) . . . . . . . . . . . . . .
IC.DISC and former DISC dividends not included on lines I, 2, or 3 (section 246(d)) .
Other dividends . . . . . . . . . . . . . . . . . . . .
Deduction for dividends paid on certain preferred stock 01 public utilities (see Instructions)
Total dividend.. Add lines 1 Ihrough 17. Enler here and on line 4, page 1 . ~
70
2
60
...
in5tru Ion
3
4
5
6
42
46
70
7
80
100
6
9
10
11
12
13
14
15
16
17
18
19
20
Total.peclal deduction.. Add lines 9.10. 11. 12. and 16. Enler here and on line 29b. page 1 . . . . . ~
Compensation of Officers (See instructions for line 12. page 1.)
Complete Schedule E only il total receipts ~ine la plus lines 4 through 10 on page '. Form 1120) are S500,OOO or more.
(c) Percent of ~ont 0 W'POtIllOn
(b) SOCial secunty number lime devoted 10
b $lnMS
Schedule E
(I) Name 01 officer
tIJ Amount 01 compensation
(eI) Common
22.2 %
38.9 %
38.9 %
%
%
(I) P,efened
%
%
%
%
%
5.400
23.625
16,200
1 Nana E. Wra
William A. Wra Jr.
Nana W. DeStefano
526-18-5669
175-40-5844
195-38-9659
20
100
100
%
%
%
%
%
2 Tolal compensation of officers. . . . . . . . . . . . . .
3 Compensation 0' oHicers claimed on Schedule A and elsewhere on return
4 Subtract line 3 from line 2. Enter the result here and on line 12. pa e 1
45,225
-0-
45,225
1 Check If the corporalton IS a member 01 a conlrolll'd woup (see secllons 1561 Olnd t563) . ... 0
2a If the bOll: on line 1 is checked. enler the corporatIon's share 01 the $50,000, $25,000, and 59,925,000 1.1;Cilbl('
Income brackets (In IhOlt order):
(I) 1$ I I
b Enter the corporation's share 0':
. (I) addlltonal 5% tax (not more thnn S 11,750) I $
(2) additional 3% lax (nol more than S 1 00.000) I $
3 Income tax. Check this box I' tho corpomllon IS ;] qualified personal servIce corporallOn as defined In section
446(d)(2) (see instructions on page t5). . . . . . ~ 0
4a Foreign tax credit (allach Form 1118). . 40
b Possessions tax credit (alt.ch Form 5735) 4b
c Orphan drug credit (altach Fonn 6765) '" .. 4c
d Check: 0 Nonconventional source fuel credit 0 OEV credit (alt.ch Form 8834) 4d
e General business credit. Enter here and check which lorms are attached:
o Fonn 3800 0 Form 3468 0 Form 5664 0 Form 6478 0 Form 6765
o Fonn 6586 0 Form 8830 0 Form 6826 0 Form 8635
f Credit for prior year minimum tax (.It.ch Form 8827)
5 Total credits. Add lines 40 lhrough 41
6 Subtract line 5 from line 3 . . . . . .
7 Personat holding company tax (allach Schedule PH (Fonn 1120))
8 Recapture taxes. Check if 'rom: 0 Form 4255 0 Form 8611
90 Alternative minimum lax (allach Form 4626) .
b Environmental tax (altach Form 4626). . .
10 Total tax. Add lines 6 throu h 9b. Enter here a
Other Infonnallon See a
1 Check melhod of accounting: a 0 Cash
b rn Accrual c 0 Oth., (Specify) ~..................
2 Ref., to page 1901 the instructions and state the principal:
a Business activity code no. ~....~.~??..................
b Business activity ~..~.~~!l.g..~.~~!!.l!................
c Product or service ~.I!!'!~.~i!;J,..~!!~.~J;..~..!'!~.PE~i
Form; 120 il9931
mmm!Il!Il
Tax Computation (See instructions.)
(2) I $
Schedule K
3
Did the corporation at the end of the tax year own. directfy
or indirectly, 50% or more of the voting stock of a
domestic corporation? (For rules of aUnbution, see
section 267(c).) . . . . . . . . .
It .Yes," altach a schedule showing: (a) name and identifying
number, (b) percentage owned. and (c) laxable Income or
Ooss) before NOL and special deductions of such corporation
lor the tax year ending WIth or within your tax year.
Is the corporation a subsidiary in an affiliated group or a
parent.subsidiary conlrolled group?
If .Yes," enter employer identification number and name
of the parent corporation'" ............................
4
..........................................................
5
Old any Individual. partnership, corporation. estate or
trust at the end of the tax year own, directly or indirectly,
50% or more of the corporation's voting stock? (For rules
of altnbution, see section 267(c).) . .
If .Yes," attach a schedule showing name and identifying
number. (00 not Include any information already entered
In 4 above.) Enter percentage owned ~.................
During this tax year. did the corporalion pay dividends (oth.,
than stock dividends and distnbutlons In exchange for Slock)
In Il!Xcess of the corporatIon's current and accumulated
eamings and proms? (See sees. 301 and 316.) .
II .Yes: file Form 5452. If this is j] consolidated return,
answer here for the parent corporation and on Fonn 851.
Affiliations Schedule, for each subsidiary.
6
H132
P.1Qt' 3
(3) $
\:8,",
~~,~~
~~~~'
"\~
I
I
~
-0-
5
6
7
8
90
9b
10
-0-
-0-
-0-
-0-
-0-
-0-
-0-
Was the corporation a U,S, shareholder 01 any controlled
foreign corporation? (See sections 951 and 957.). . .
If .Yes," attach Form 5471 for each such corporation.
Enter number of Fonns 5471 allached ~ ................
6 At any time during the 1993 calendar year, did the corporation
have an interest in or a signature or other authOrity over a
financial account in a foreign country (such as a bank
account, securities account. or other financial account)? .
If lOVes," the corporation may have to file fbrm TO F 90.22.1.
U.Yes," enter name of foreign country .. ...............
9 Was the corporation the grantor or, or transferor to, a foreign
trust that existed during the current tax year, whelher or not
the corporation has any benefICial interest In it71f "Ves,. the
corporation may have to Ida Forms 926. 3520, or 3520.A
Did one foreign person at any time dunng the tax year own.
directly or indirectly. at leaS! 25% of: (a) the total voting power
of all classes of stock of the corporation enlltled to Vole. or (b)
the tolal value at all classes or Slock at the corporatIon? If .Ves,"
a Enter percentage owned ..................................
b Enter owner's country ...................................,
c The corporation may have to file Form 5472. Enter number
of Forms 5472 attached ~ ...............................
Check this box if tho corporation issued publicly offered
debt Instrumenls with onginal issue discount. ... 0
If so, the corporation may have to file Form 8281.
Enter the amount or tax. exempt mterest received or
accrued dunng the tax year ~ $ ......~C?~~...........
If there were 35 or 'ewer shareholders at the end of the
tax year, enter the number ............).................
If tho corporatIOn has an NOl for the tax year and is
electing to forego tho carryback period. check here ~ 0
Enler the available NOl carryover from pnor tax years
(Do not reduce it by any deduction on line
29a)~S 19.298
Form 1120119931
Balance Sheets
Assets
1 Cash .
2n Trade notes and accounts H!CCIVable,
bLess allowanco for bad debts
3 Inventorlcs . . . . . . . ,
4 U,S. govcrnment oblIgations . . .
5 Ta~'Cll.empt sccurlties (see Instructlonsl
6 Other currcnt assets (attach schedule)
7 Loans to stockholdcrs . . . .
8 Mortgage and real estale loans
9 Other investments (attach schedule) .
1001 BUildings and other depreciable assels
b Less accumulated depreciatIon
118 Depletable assets . . . .
b Less accumulated depletion .
12 Land (net of any amorlization) .
13a Intangible assets (amortizable only)
b Less accumulated amortization
14 Other assets (allach schedule). .
15 Total assets . . . . . . .
Paga 4
lJl'C)l/lnlnq 01 tax ~t!ar
End 01 tJJ. yt!ar
(a) tb) tc) (d)
............................... 8 ................................
~~~~~~~~~~~~" ~.,??5....,n..... ~~~;~'-'0\~\'\-~\\~~\~~'{{ ....u._ 9.445
III ,1,23 ~~~,\,,~~,.~~"'~'C? 82 755 ~~~,~~~~
( -0- ) III 1,23 ( -0-) 82 755
35 655
65 ,137 ~ ~ '&'W 75 678
39,934 ) 25 203 ( 44 232
-~~
Liabilities and Stockholders' Equity
Accounts payable . . . . . . .
Mongages. netes. bonds payable in less than 1 year
Other current liabilities (attach schedule). .
Loans 'rom stockholders . . . . . .
Mortgages. nales. bonds payable in 1 year or more
Other liabilities (aUach schedule) .
Capital stock: a Preferred stock
b Common stock
23 Paid.in or capital surplus . . .
24 Retained ea,mngs-Appropnated (attach schedule)
25 Retained earnings-Unappropriated .
26 Less cost of treasury stock. . . . . .
27 Total lIabilllies and stockholders' eqUlt . . 8 1 222 06 822
Note: You /lftl nol required to complete Schedules M.I and M.2 below il the total assets on /ine 15. column (<1) 01 Schedule L /lftl/ess than $25.000.
Reconciliation of Income Loss er Books With Income er Return See Instructions.
Net Income (loss) per bocks . . .. (114,855) 7 Income recorded on bocks lhis year not
Federal Income tax . . . . . . . . Included on this return ~temize):
Excess of capital losses over capital gains . Tax.exempt Interest $ . .......... ......
Incomo subject to tax not recorded on books ........................... ..............
this year (ilemize): ........................... f~~~.~!!L~~~.<?!'!~..~!HC...~~f~~d
16
17
16
19
20
21
22
Schedule M-1
1
2
3
4
..............................................
5 Expenses recorded on books this year not
deducted on this return (itemize):
a DepreclOtion . . . . S .................
b Contributions canyover S .................
o Travel and enterlainment S......~ Q 7.. .....
..............................................
..............................................
6
Schedule M-2
1 Balance at beginning of year . . .
2 Net Income (loss) per bocks . . .
3 Other increases (itemize): ........ ..... ......
..............................................
..............................................
..............................................
4
Add lines 1. 2. and 3
. . . . . . .
86 311
285 146
Deductions on this return not charged
against book income this year (itemize);
a Depreciation . . . . S ...........
b Contnbutions carryover S ..........,
.........................................
.........................................
.........................................
a Cash. .
b Stock
c Propeny.
Other decreases (itemize): .............
.........................................
251 698
Add lines 5 and 6 . . . . . .
Balance at end 01 year ~ine 4 less hne n
251 698
Form
4562
Dt., .eclatlon and Amortization
(IncludIng Information on Usted Property)
OMU tlo. 1S4~.0t72
~@93
~artl'T'enl 011". ",...wry
Int.-rlai Re'4"'U. S.,..,lCe (11
..,. See separate Instructions.
~ Attach thl. 'onn to your r.tum.
An,1Chmenl
~uence t~o. 67
IdentJfylng number
23-1935767
Namtis) shown on relurn
Wray's Music House, Inc.
BUSiness Of 'ClWlry 10 whICh tnlS form relal01
Rctail sales of musical instruments and supplics
Election To Expense Certain Tangible Property (Section 179) (Note: If you have any "Listed Properly."
com lete Part V befo,e au com lete Part I.)
1 Maximum dollar limitation (If an enterprise zone business, see instructions.) . . . ., 1 517 , 500
2 Total cost of section 179 property placed In service during the tax year (see instructions) . 2
3 Threshold cost of section 179 property before reduction in limitation. . . . . . ., 3 5200 000
4 Reduction In limitation. Subtract line 3 from line 2, but do not enter less than -D. 4
5 Dollar limitation for tax year. Subtract line 4 from line 1, but do not enter less than .0-. (If
married filln se aratel , see instructions.). . . . . . . . 5
(a) Oescnphon 01 propetty (b) Cost (el Elected cost
6
7 Usted property. Enter amount from line 26. . . . . . . . .. 7
6 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 8
9 Tentative deduction. Enter the smaller of line 5 or line 8 . . . . . . . . . . 9
1D Carryover of disallowed deduction from 1992 (see instructions). . . . . . . . 1D
11 Taxable income limitation. Enter the smaller of taxable income or line 5 (see instructions) . 11
12 Section 179 expense deduction. Add lines 9 and la, but do not enter mom than line 11 . 12
13 Ca over of disallowed deduction to 1994. Add lin d I
Note: Do not use Pari II or Part III below (0' fisted other vehicles, cel/ula, telephones,
certain computers, 0' property used (0' enterta/nme , 0 musem t). Instead, use Part V (0' fisted p,operty.
MACRS Depreciation For Assets Placed In Service ONLY During Your 1993 Tax Year (Do Not Include
Usted Pro e
(eI) Recovery
ponod
14
a
b
c
d
e
I
9
5.226
3,125
5 rs
7 rs
HY
HY
200 DB
200 D
1,045
447
I
f
h
7/94
2 190
27.5 rs.
27.5 yrs.
39 rs
MM
MI-!
MM
MM
S/L
SIL
S/L
S/L
12
15
8
b
12 rs.
40 rs.
IDIIII Other Depreciation (Do Not Include Listed Property)
MM
SIL
SIL
S/L
16 GDS and ADS deductions for assets placed in service in tax years beginning before 1993 (see instructions) 16
17 Property subJect to section 168(Q(1) election (see instructions). . 17
18 ACRS and other de reclation see Instructions . . . . . . . . . . . . . , .. 18
IDEI Summary
19 Usted property. Enter amount from line 25. ' . . . . , . . . . . . . . . ., 19
20 Total. Add deductions on line 12. lines 14 and 15 in column (g). and lines 16 through 19. Enter here
and on the appropriate lines of your retum. (Partnerships and S corporations-see instructions) 2D
21 For assets shown above and placed in service during the current year, enter
the onion of the basis atlributable to section 263A costs (see instructions). 21
For Paperwork Raduc1lon Ac1 NoUc., ... pag. 1 ollh. ..paml. In.\nJc1lon.. Cat. No. 12906N
2 638
1 6
Form 4562 (19'331
UTILITY SCHEDULE
10",-,_.,
(lie.:.!.! lF27!l!l
N Wray I s Music 1I0use. Inc.
Adadmo P.o~ox4T9 ---------
ross
17043
Socl,,'Secuntyor 23-1935767
IdcnllllCilllon No ._ "___________ uu_._____
Yoar EndedSeptember 3D 19.-2."
Lemoyne. PA
Form 1120
Schedule
Lino
Yoar
Form 1120. Page 2, Schedule A, Line 5. Other Costs
........!!.':'.I!.!!.~.!:.!!...!!.t;!~....~!;l.!!J!!.g.............................................................................. .................. ...............:i...7.Qt .........
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.Form 1120. Page 1. Line 17. Taxes and Licenses............................
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Sec. 274n disallowance 507 !
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..Form 1120 Pa e 1 Line 29a Net 0 era tin Los e. 11.\:. ;!,P.. . ........................... ......... ..........................r.....:.
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UTILITY SCHEDULE
Namo
Addross
Wray I S Mus ic House. rnc .n_____
P .0. Box 419
Lemoyne. PA 17043
Form 1120 Schedulo
llOO_
"........
("l~ TFU!l!l
Social SecuII'Yor 23-1935767
Idcntlltcallon No. .__~___._.____'___H
Yoar Ended ~up::~~ber 30 1914
Yoar
Schedule L, Line 18, Other Currunt Li bilities
........................................................................................................................................................ ......~.~~.~.~~~.~.. ......... .............~.~~.~?.~........
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Form 1120. Pa!!e 4.
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::::::::~: :::::::::::::::::: :: ::::::: .~'~.'::.:::::.::: ::::::::1:::::;:
......................................
.......... 51 ,550
........................................................................................................................................................ ...................................... ................'......... ........
....................................................................................................................................................... ...................................... .......................... ........
........................................................................................................................................................ ..............................,....... .......................... ........
...............................................................................................................................................,........
...........................,............................................................................................................................ ...................................... .......................... ........
.............................,....'... .......................... ........
C.tO..IT PUlILls.....a co
. .
-
'1120 u.s. ",Jrporatlon Income Tax Retlll.. .
OMn No 1!4!J.OI23
r For calendar year 1992 or tax year beginning 9.c;.~ ..... 1 .1992. endlngScpt.,..3Pt9 ?3 ~@92
.. .....",1 of ltle l'MI4IY
Inlll"lll Rftlf\ue s.-.oee ~ Instructions ore soparato. Soe p.1ge 1 for Paperwork Reduction Act NaileD.
A Check II a: Us. Name o Employer Id.nUfiClbon numb.,
t II ConSOhdaled return 0 IRS Wrav's Music \lnnsc. Inc. 23-1935767
(attach fann eSll lab.l.
(21 PeBONl ""!dln<J co 0 Other- Number, $Itetll. and loom or SUite "0. 111 a PO. tX)I, sou p.,Ou fi of tn~tru<:llon'5) C Date Incorporated
(attach Sch, PH) WiSD, 370 Markct Street 9/26/7"
131 PetSONl set'ilCe CC'IP plense
111 deMfd In TM'POratV print or Clly or 10Ywn, stalo, and ZIP code o Tol.1J .mel!r.lwe SpccrflC InstnJctiOn$1
ROl' Sf< 144""-0 type. Lemovne PA 17043
SHInSlrvctoosl
E Check aonhcatlle bolOS' In 0 lnlhal relurn "1 0 F In.,l ,rturn '31 0 Ch.,nno In addrn'u $ 871.222
10 Gress ,"celpts er sales I 1 .307, 179 1 Ib less returns And allow;tncesl 4,930 I 1 e Oal ~ Ie 1.302,249
2 Cost of goods sold (Schedule A. line 8) 2 1,011.768
3 Gross profit. Subtract line 2 tram line 1c 3 290.481
4 O,v,dends (Schedule C. Ime 19) 4
C> .~ 37
E 5 Interest 5
0 6 Gross rents . 6
u
= 7 Gross royalUes . 7
8 Capitat gain net income (allach SChedule 0 (Form 1120)) 6
9 Net gain or (loss) from Form 4797. Pari II. line 20 (allach Form 4797) 9
10 Other income (see instructlons-a<<ach schedule) . 10
.
11 Total Income. Add lines 3 throunh 10 . ~ 11 290.518
,; 12 Compensation 01 officers (Schedule E. line 4) . . . . . 12 55.100
g 13a Salanes and wages 1 134.1331 I b Less jobs credit I -0-1 I e Balance ~ 130 134.133
'il
, 14 Repairs 14
'll 15 Bad debts 15 887
'0
e 16 Rents 16 18.000
0
ft 17 Taxes 17 17 839
c . . .............
0
.. lB Interest. . . . . . . . . . 'OQ:PiY 16 20 654
l!
~ 19 Chantabl~ contributions (see instructions r 1 II on ) . 19
.2 20 Oepreclatlon (allach Form 4562) . . . . . . . . . . . : 1'20'1 . 2 031'1
ft 21 Less depreciation claimed on Schedule A and elsewhere on return 2101 21b 2.031
c
0 22 Oepletion 22
..
u 23 16.764
S 23 Advertising
ft 24 Pension, profit-sharing, etc., plans 24 944
.Ii
0 25 Employee benefit programs 25 10.351
e , 26 80 184
" 26 Other deductions (allach schedule) . .
c 27 Totat deductions. Add 'IOes 12 through 26 27 356.887
.2 , ~
U 28 Taxable income belate net opcraling loss deduction and special deductions. sur~ra~ tne 27 from linel11 26 (66.369
,
'll 29 Less: a Net operating loss deduction (see instructions). . . . . . 29a ~
Q b Speciat deductions (Schedule C. line 201 . . l29b 1 I 2ge
30 Taxable Income. Subtract line 29c from line 26 30 (66.369 .
31 Total tax (Schedule J. line 10) - 31 -0-
32 P,ym,nlS: , 1991 OvelJllymenl credlled 10 1992 323 73
.!l b 1992 estimated tax payments 32b 1.800
c
C> ( ) dBal ~ 1.873
~ e Less 1992 retund applied for on Form 4468 32c 32d
Q. e Tax deposited With Form 7004 32e
'0 I Credit from regulated investment companies (allach Form 2439) 321
c
" Credit for Federal tax on fuels (allach Form 4136). See instructions 32g 32h 1.873
M 9
{! 33 Estimated tax penally (see instructions). Check if Form 2220 is attached ~ 0 33
34 Tax due. " line 32h is smaller than the total of lines 31 and 33. enter amount owed 34 -0-
35 Overpayment" line 32h is large' than the total 01 lines 31 and 33. enler amount overpaid. 35 1.873
36 Enter amounl of line 35 vou want: Crodlted to 1993 estimated tax ~ 1.873 Refunded ~ 36 -0-
Please Under penalties 01 perJUry, I dl'Cl3t.lhall have e.,amlned thiS return. Incluc:hOO aecompanytMO Sdle-dules and statements. and to tM beSl 01 my knowledge and
bell.l. IllS true. coned. and camplele. Oeclarilhon 01 preparer (other INn wpayer) IS baSed on a1llnlormatlOO of whICh pttpater has any knowledge,
Sign ~" 1,1 ~ -/
Here S.gnalure 01 oHicer Date 'TitlO
Paid P,epare,', ~-1., 1C~ CIA Dale I Check rt -IPtep.vet'! sOCI31 secunty numbof'
s.gnature ... IIlo. 12/10/93 .<"-employed 0 178: 38 : 0954
Preparer's Firm's name (or R. Wro. Wire Associates. P.C. 1 E.I. No. ~ 23 :2031522
Use Only yours If self.employed) ~
and address 19 S. 19th st. . Caron nill. PA 1 ZIP coo. ~ 17011
\
H132
Cat, No. 114500
FDm111:>"~ 1'992)
~ Cost of Goods Sold \~~e Infotructlons.
Pig. 2
1
2
3
4
5
6
7
6
645 244
911. 1.29
1 Inventory nl beginning of yom .
2 Purchnso5.
3 Cost of labor .
4 Additional section 263/\ costs (alloch schedule)
6 Other costs (allach schedule)
6 Tolal. Add lines 1 through 5
7 Inventory at end of year.
8 Cost or goods sold. Subtrnctline 7 from Iino 6, Enter hero and on page 1, hoe 2
9a Check all mothods used tor valuing closing inventory;
(I) 0 Cost PQ !XI Lower of cost or market as described in Regulations section 1.471.4
PIQ 0 Wrttedown of.subnormal. goods as descnbed in Regulalions section 1.411.2(c)
pv) 0 Other (Specify method used and allach explanation.) ~ .............................................................................
b Check iI the LIFO Inventory method was adopted Ihis tax year for any goods (if checked. allach Form 970) ~ .. 0
c If tho LIFO Inventory method was used for this lax year. enter percentage (or amounts) of closing I I L
Inventory computed under LIFO . . . . . . . . ~ .
d Do the rules of section 263A (for property produced or acquired for resole) apply to the corpora lion? 0 Yes IXI No
e Was there MY change in detennining quantitles, cost, or valuations between opening and closing inventory? If .Yes,"
attach explanation 0 Yes
26
1 586
574
011
907
560
792
768
IXI No
Schedule C
10) D~"'cnds
received
lb)%
(e) Speciaf deduc!Ions:
(I) x lb)
Dividends and Special Deductions (See instructions.)
1
Dividends from less.than.20%.owned domestic corporations that are subject to the
70% deduction (other than debt. financed stock) ..........
Dividends from 20%.or.more.owned domestio corpora lions thai are subject to the
60% deducllon (other than debt.financed stock) ..........
Dividends on debt-financed slack of domestic and foreign corporalions (section 246AJ
DividendS on certain preferred stock of less-than-20%-<lwned public utilities. . .
Dividends on certain preferred stock of 20%.or.mAA'm'V. . .
Dividends from less.than'20%.owned foreign co~W ~n F~ that are
subject to the 70% deduction. . . . .. ..........
Dividends from 20%.or.mor..owned foreign corpora lions and certain FSCs that are
subject to the 80% deduction. . . . .. ........ .
Dividends from wholly owned forel9n subsidiaries subject to the 100% deducton (seeton 245(b))
Total. Add lines 1 through 8. See Instructions for limitation . . . . . . . .
Dividends from domestic corporations received by a small business investment
company operallng under the Small Business Investment Act 01 1958. . . . .
Dividends from certain FSCs that are subject to the 100% deduction (secllon 245(c)(I))
Dividends from affiliated 9roUP members subject to the 100% deduction (secllon 243(aX3))
Other dividends from foreign corporations not Included on lines 3. 6. 7, 8. or 11 .
Income Irom controlled foreign corporations under subpart F (allach Form(s) 5471) .
Foreign dividend gross.up (section 76) . .. . . . . . . . . .
IC.DISC and former DISC dividends not included on lines I, 2, or 3 (section 246(d)) .
Other dividends . . . . . . . . . . . . . . . .
Deduction for dividends pnid on certain preferred stock of publiC u1i1ities ,sea instructions)
Tolal dividend.. Add lines 1 through 17. Enter here and on line 4. page 1 . . ~
.
70
2
80
'"
In F\J tl n
3
4
5
6
41.176
47.059
70
7
8
9
10
11
12
13
14
15
18
17
18
19
20
Talal deducUon.. Add lines 9. 10. II, 12. and 18. Enter here and on lina 2gb. pagel .....
Compensation of Officers (See instructions for line 12, page 1.)
Complete Schedule E only i/ tarot receipts ~ine ta plus lines 4 through 10 on page I, Form 1120) are SSoo.ooo or more.
(e) PCfCcnt or .-cent 0 capc....bOtl
(b) Social secunty numbor time devoted to
bUSiness
~
Schedule E
(I) Name of officer
tf) Amount 01 compensahon
(dl Common
22.2 %
8. %
8. %
%
%
II) Preforrcd
1
Nana E. Wra
William A. Wra Jr.
Nana W. DeStefano
526-18-5669
175-40-5844
195- 8-9659
20
100
100
%
%
%
%
%
%
%
%
%
%
2
3
4
Total compensatIon of officers, . . . . .
Compensation of offlcors claimed on Schedule A and elscwhero on retum
Subtract lino 3 from line 2. Enter the result hero and on line 12. page 1
r'tm 1120 (1992)
E:l!m!m!II!II Tax Computation (Seo Instructions.)
1 Check I' the corporallon is a member Of,il coni rOlled group (SUO St.octlon5 15fit ;md 15(3)
2 litho box on line 1 I. checked:
. Entor the corporalion's sharo of the $50,000 and $25,000 lillHJhlo Income brackel amounts (In Ihat order):
(IJ IS I I ~Q IS I I
b Enter tho corporation's sharo of tho addItIonal 5% t.H (not 10 oxceed S 11,750) ... I s
3 Income lax. Chock this box it tho corporation IS a quallflod porsonal service corporation as defIned In section
448(d)(2) (5"" instructions on page 14). . . . ~ 0
4a Foreign tax credit (attach Form 1116). . 4a
b PosseSSions tax credit (.lIach Form 57J5) 4b
o Orphan drug credit (attach Form 6765) 4c
d Credit 'or fuel produced from a nonconventlon.11 sourco 4d
e General business credit. Entor here and check which fonns aro attached:
o Form 3800 0 Form 3468 0 Form 5864 0 Form 6478
o Form 6765 0 Form 6566 0 Form 86J0 0 Form 8626
, Credit for prior year minimum tax (.ttach Form 8827)
5 Total credits. Add lines 40 through 4f
8 Subtract line 5 from line J
7 Personal holding company tax (allach Schedule PH (Form 1120))
8 Recapture taxes. Check if 'rom: 0 Form 4255 0 Form 8611
90 Alternative minimum tax (allach Form 4626). . .
b Environmental tax (allach Form 4626). . . . . . . .
10 Total tax. Add lines 6 throu h 9b. Enter here and on line J I, po e 1
Other Information See instructions.
'--,
Schedule K
1 Check method of accounting:
8 0 Cash b IXI Accrual
o 0 Olher (specify) ~...................................
2 Refer to the list In the Instructions .nd state the principal:
8 Business activity code no. ~......:i9.9.t..............
b Business activity ~.~~.~~~.L!l.~.~!:~.................
o Product or service ~.':I!!~~.c:!!;I,..~!!.~.~.t:..~..~':l.ep.~
3 Did the corporation at the end 01 the tax year own, directly
or Indirectly, 50% or more of the voting stock of a
domestic corporation? (For rules of attribution, see
section 267(c).)
II .Yes," .lIach a schedule showing: (a) name and
Identifying number. (b) percentage owned; and (c) taxable
income or (loss) before NOL and special deductions 01
such corporation for the tax year ending with or within
your tax year.
4 Did any individual, partnership, corporation. estate, or
trust at the end 01 the tax year own, directly or indirectly,
50% or more olthe corporation's voting stock? (For rules
of allribution, s"" section 267(c).) II .Yes," complete a.
b, and c below. .
a Is the corporation a subsidiary in an affiliated group or a
parent.subsidiary controlled group?
b Enter the name and identifying number of the parent
corporation or other entity wilh 50% or more
ownership" ..................... ..... ..................
..........................................................
c enter porcen~age owned ................................
5 During this tax year. did the corporation pay dividends (olher
than stock dividends and distributions in exchange lor stock)
In excess 01 the corporation's current and accumulaled
earnings and profrls? (See sees. 301 and 316.). . . .
If "Yes," file Form 5452. If this is a consolidated return,
answer hero ror the parent corporation and on Fonn 851,
Affiliations Schedule. for each subsidiary.
H132
Pag" 3
..~O
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
~
~
4e
41
~
5
6
7
6
90
9b
10
'.
6 Was the corporation a U.S. shareholder 01 any controlled
~rporation? (See sections 951 and 957.). . .
J:!! .Y.Io" anach Form 5471 lor each such corporation.
Enter number 01 Forms 5471 allached ~ ................
7 At any time dunng the 1992 calendar year, did the corporation
have an Interest in or a signature or other authonty over a
financial account In a foreign country (such as a bank account,
secuntles account, or other financial account)? .
If .Yes," the corporation may have to file Form Tn F 90.22.1.
If .Yes," enter name of foreign country.'" ...............
8 Was tho corporation the grantor 01, or transferor to. a foreign
trust that existed during the current tax year. whether or not
the corporation has aIr'I boneficlallnterest in it?
If .Yes," the corporation may have to me Forms 926, J520,
or J520.A.
9 OK! one foreign pc!>On at any time during the"'" year own, directly
or indirectly. at least 25% ot (a) the total voting power 01 all classes
of sleek 01 tho corporation entrtled to vote. or (b) the totn! value
. of aJi classes of sleek of !he corporation? . . .
If .Yes," s"" page 17 of Instructions and
a Enter percentage owned .. ...............................
b Enter owner's country ....................................
o The corporation may have to me Form 5472. (See page
18 for penalties that may apply.) Enter number of Forms
5472 allached ~ .........................................
Check this box if the corporation issued publicly offered
debt instruments with original issue discount. ... 0
If so, the corporation may have to file Form 8281.
Enter the amount 01 tax.exempt interest receIved or
accrued dunng the tax year ~I s None I I
II there were 3S or fower shareholders at the end 01 the
tax year. enter the number ~ .....~....................
If the corporation has an NOL for the lax year and is
electing under sec. 172(bIl3) 10 forego the canyback
period, check here. . . . . . ~ 0
Uabllltles and Stockholders' Equity
Accounts payable . . . . . . .
Mongages, notes. bonds payable In less Ihan 1 year
Other current liabililies (attach schedule) . .
Loans from stockholders . . . . . .
Mortgages, notes, bonds payable in 1 year or more
Other liabilities (allach schedule) .
Capital stock: a Preferred stock
b Common stock
23 Pald.in or capital surplus . . .
24 Retained eamings-Appropnaled (allach schedule)
25 Retained eamlngs-Unappropriated . 432 922 366 553
26 Less cost of treasury stock. . . . . . 28 621 28 621
27 Totalllabililies and stockholders' equity. . 807 904 871 222
Note: You me /101 required 10 complele Schedules M-I and M.2 below ,f/helotal assets on line 15, column (d) of SChedule L me less tharr 525,000.
Reconciliation of Income Loss er Books With Income er Return See Instructions.
Net income (loss) per books . . . . ( 6 6 , 369 ) 7 Income recorded on books this year not
Federal Income tax . . . . . . . . included on this return (itemize):
Excess of capital losses over ceJpital gains . Tax.exempt interest $ .................
Income subject to tax not recorded on books .........................................
this year (itemize): ....... .................... ....... ..................................
Form I1:?O 119921
Balanco Shoots
Assets
1 Cash . . . . .
2a Trado not~5 and accounls recelvablo .
bLess allowanco tor bad debts
3 'InventorIes . . , . .
.. U,S. government obligations
5 Tax.exempt sccunlics (see instructIons) ,
6 Other current assets (attach schedule)
7 Loans to stockholders . . . .
8 Mortgage and real estate loans
9 Other investments (attach schedule) .
10a Buildings and other depreciable assets
b Less accumulated depreciation
11 a Depletable assets . . . .
b Less accumulated depletion
12 Land (net 01 any amo1izalion) .
130 Intangible assets (amortizable only)
b Less accumulated amortization
14 Other assets (allach schedule). .
15 Total essets . . . . . . .
16
17
18
19
20
21
22
Schedule M-1
1
2
3
4
..............................................
5 Expenses recorded on books this year not
deducted on this return (itemize):
a Depreciation. . . . $.................
b Contributions canyover $ .................
c Travel and entertainment S .................
..............................................
..............................................
6
Schedule M-2
1
2
3
Balance at beginning of year . . .
Net Income (loss) per books
Other Increases (itemize): ...................
..............................................
..............................................
..............................................
4
Add lines 1. 2. and 3
Page 4
llt!fl1nnHlfl olla... year
End olin... ycar
(n) Ibl Ie) (d)
................................,............-.. ........,.....~..-.....M..~........
~;;;';iN:;~:i:i;:: f;Jff~1,J;f;~J1JJ?~ ;,;1r{f};f~~$ ?iW~.~
( -0-) 117 21.R I -0-
~!&jII. 61.5 m -.~~R~.
,.. ~.-
~d 7844 ~
~
58,067 ~
37,902
51 550
269 258
i 8 Deductions on this retum not charged
against book Income this year ~temize):
a Depreciation . . . . S ...........
b Contnbutions ccmyover S. .........
.........................................
.........................................
.........................................
9 Addllnes7and8 . . . . . .
(66.369) 10 Income (line 28. pa elHlne 6less/ine 9
riated Retained Earnln s er Books (Line 25, Schedule L
432.922
(66.369)
5 Oistnbutions: a Cash. .
b Stock
c Property.
6 Other decreases (1Iemlze): .............
.........................................
-0-
366 553
366.553
7 Add lines 5 and 6 . . . . . .
8 Balance at end ot year ~ine 4 less line 7)
Fcxm
4562
[)"preclatlon and Amortization
(Including Information on Listed Property)
o.p.nmenl 01 N "Uki'(
Inlwnll Jl..~ s.w.
.. See separnlD Instructlons.
.... Attnch this form to your return.
Namo(sl !ho~n on relurn
Wrays Music Housc, Inc.
OMII"o '~!I.m1'
~@92
AllAchmftfll
$Uf)Ul1t'K:ft tlo 67
Idenufytng number
23-1935767
DUSlnMS Of actIVIty 10 whICh Itlll 'OIm lolales
Rctail solos of mUBical inBtrumontB & Buppl1o"
Eloctlon To Exponso Certain Tanglblo Property (Soctlon 179) (No to: If you IJava any "Listad Property."
com lets Part V befors au com Isfa Part I.
1 Maximum dollar limitation (see instructions) . . . . . . . . . . . . . . . .
2 Total cost 01 section 179 property placed In servico during tho tax year (seo instructions) .
3 Threshold cost of section 179 property beforo reduction in limitation. . . . . . .
4 Reduction in limitation. Subtract lino 3 from line 2. but do not enter less than -0-
5 Dollar limitation tor tax ear. Subtract lino 4 from line 1. but do not onter less than .0-
la) Oescnphon 01 property (b) Cost (e) Elected cost
6
1
2
3
4
5
$10.000
$200 000
II
7 Usted property. Enter amount from lino 26. . . . . . . . .. 7
8 Total olected cost of section 179 property. Add amounts in column (c). lines 6 and 7
9 Tentativo deduction. Enter the smaller of IIno 5 or line 8 . . . . . . . . . .
10 Carryover of disallowed deduction from 1991 (see Instructions). . . . . . . .
11 Taxable income limitation. Enter the smaller of taxable Income or line 5 (see Instructions) .
12 Section 179 expense deduction. Add lines g and 10. but do not enter more than line 11 .
13 Ca over of disallowed deduction to 1993. Add lines g and 10. less lin 1 . 13
Note: Do not use Part II or Part 11/ below (or automobiles, 'e ic/es. cellular telephones. computers. or
properly used (or entertainment. recreation. or amus P Instead. use Part V (or listed properly.
MACRS Depreciation For Assets Placed In Service ONLY During Your 1992 Tax Year (Do Not Include
Usted Pro e
(I) ClasSification 01 property
IdJ ROC<lvety
ponod
14
a
b
c
d
e
,
9
2 333
4 736
5 rs
7 rs
HY
HY
27.5 rs. MM S/L
27.5 rs. MM S/L
31.5 rs. MM S/L
31.5 yrs. MM S/L
S/L
12 rs. SIL
40 rs. MM SIL
h
15
8
b
Iil!IDIII Other Depreciation (Do Not Include Listed Property)
16 GDS and ADS deductions for assets placed in service In tax years beginning bsfore 1992 (see
Instructions). . . . . . . . . . . . . . . . . .
17 Property subJect to section 168(Q(I) election (see instructions) .
18 ACRS and other de reciation see instructions). . . . . .
Iml!I Summary
.
19 Usted property. Enter amount from line 25. . . . . . . . . . . . . . . . . .
20 Totat. Add deductions on line 12. lines 14 and 15 in column (g). and lines 161hrough 19. Enter here
and on the appropriate lines of your retum. (Partnerships and S corporationS-S09 instructions)
21 For assets shown above and placed in service during the current year. enter
the ortion of the basis attributable to section 263A costs see instructions
For Paperwork Reduction Ac1 Nollce. .... page 1 of the separate In.tructions. CO.. No. t~900N
H132
8
9
10
11
12
200 DB
200 DB
467
677
16
17
18
731
156
19
20
2.031
Fcxm 4562 (19'l~1
'-
UTILITY SCHEDULE
'". '(~rfu.T Ir liS!.
Name JI.!:I!Y_s__l1us i~..!L,,-~s~ .~_l!~_______._ __________
AddreS5 370 Market Str~~t
L~moyn~. PA 17043
Form 1120 Schedule Llno .
SOCIoll Socullly or 23 -19 3 5 767
Idenhllc.11lon No
Yea, Ended . 2~pt~lnjj-~r:fif-~-19J}
- Y~r ...!}j30.(93_
'.
Form 1120. Pa e 2. Schedul~ A. Lin~ 5. Oth~r Costs
1/
I
::::::::::::::::::::::::::1:::::........
I
.............................................................................................................................................................................................::::::::::::::::::::::::::J:::::::::
..........'!:9IA~.................................................................................................................................. 26.907 I
..........................i........
I
.................................................................................................,...................................................... ...................................... .........................T.......
.....f.\l.0\..~ 140...J'i!Kc....l.......Lil1e..I7.., Taxes ............................................................ ............................. ......... ..........................i........
::::::::::::::::::::::::::r::::::::
I
.::::::::jQr~(:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: ............1'7';.ii'3Cj. ......... ::::::::::::::::::::::::::r:::::::
....................................................................................................................................................... ............................. ......... ::::::::::::::::::::::::::1:::::::
I
.......................'.............' ....................................
I
..........................i........
..........................J.........
I
:::::::::::::::::::::::::T:::::::
::::::::::::::::::::::::::r::::::
':::::::::::::::::::::::::r:::::::
::::::::::::::::::::::::::F::~:
::::::::::::::::::::::::::/::::::::
.::.F~.~..Ti.20.;...P;;.~e...4.;....scii.;;d.;;Te..:L';...Li-;;...6.;....O.th~.r...c-;;~;:.;;ili:...As;:;~ ..ii~:~i~~~~~~:: ::::::::: :::::::::::~~~:~~~r::::::::
:::::::::p.~:~:::~:F.~:~:::p.@::hp.ii:~i.~:!~:~:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: :::.................:7.9.:::: ::::::::: :::::n~.!.~g.~..r:::~:
..........~!:.~P.~.!!!....~.l!.~.~!.~.!...!!.\'!!!....~!;.!!.~~....~.~.~.l!.~............................................................. ...............?.!.~.~~.. ......... ...........~.!.Q.n.i.........
..........~!:.~p.~.!!!..J:!.l;\g.~.~............................................................................................................. .............. -0-. ......... ..... 15.833..........
..........................1........
150.809..i
::::::::::~~p.:~ir.~:::~~~::::~~~I~i:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: :::::::::::::I;:~~~:: :::::::::
..........f..r;.~.!8.h.t............................................... ............................................................................ 18 . 463
::::::::::P.~~~ii:::t~~:~;:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: ::::::::::j:i;:7.j~: :::::::::
..........P.I1.nxHI.^...!;.llXP.QXil.t.tl1.I1...t.<l1j:.~.~............................................................................... ..............,2 I 1.00. .........
... Form 1120. Palle 1. Line 26. Other Deductions...............................
..................................................................................................A.r\;1::';~:7..................................................
:::::::::~~:::.~::::::~:::~~:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::.~.~~::::~:::::::::::::: ::::::::::::::::::~:~:i.~:: :::::::::
.........I!:I.~!!:!:.i!m;.!;..................................................................................................................................J.?.I.;l.~~...........
.........1!!gi!:~...i!:!).\!...~.~!;.!1.\!!:I.~.!!)g......................................................................................................J.~.,.?.H?...........
.........9J.~!!;.!;...!!.~P.~.~.~.~.......................................................................................................... ............J.~.,.~.~.?. .........
..........~!;.\!I!!...!!.\!p.pJJ!!.~.........................................................................................................................~.,J.?.?...........
.........:J:~.~.l!.!!...i!:!),\!...!.!!;.!!.~.~~.~............................................................................................... ....................!}.9..~.. .........
.........:J:!!J.l!.p.11~?!).~....................................................................................................................... ...........J.t,.~}~.. .........
.::::::::~~ih1.~~:::~:::~::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: :::::::::::....9.;.~.gf: :~::::::
.....................................................................................................,.,................................................
.........'!:9.?;A~.............................................................................................................................................ii.ii';.:i's/;..........
.........TO.TALS.............................................................................................................................................'7';.ii'4'4...........
........................................................................................................................................................ ..............
::::Fo.~..'fi.20.;...P;;.~e...4.;....scii.;;d.;;T~...L.;...Li.ne...fij";...Ot.he.;:...C.;;rr.~nt...L.. 'b'Uii:'ie's':::::: :::::::::
:::::::::~~:~:~ii~~:::p.~y.:ii;?!I:~~~~:~:::::::::::::::::::::::::::::::::::::~::::::::::::::::::::::::::::::::::::::::::::::::
.........~~...~~.!.~~....~~.~...p..!!:Y.~.~.!~..........................................................................................
..........~.c;.!:.!-:~!:.~...p..!-:!?~.g....~h.!!.!-:!.~IL.P.~Y..~~.t.~...............................................................
Accrued state and federal taxes
::::::::::~I~:~:::~I:~:ii~:~:g:~:::p.:~~p.:H~:::P.:~~~:~:g::)~:~~:::::::::::::::::::::::::::::::::::::::::::::::
..........TOTALS............................................................................................................................... ............J.4.;..i.ii'i'. ......... ........s.f;.s.sif.. ........
.............................................................................................................................................,..........
..............'1';.550..........
...............s.;Ti'i' .........
............:i'i-;-1i'oii".........
...........To.;.l;'3Cj. .........
....................;:.0:::..........
................iEi/;..
:::::::::::~:;:g:~~::
-0-
...........2.;'1'00..
........'4'4';'5'80..
::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::1::::::::::::::::::::::::::::::::::::::
~
1120 u.s. rporatioll Income Tax Retur:-' OMU ~~o. 15.5.0123
Fo'm For ca!t~"OJf ~e.lr 1991 Of I.lk P!.H Ill"ljlnnlrlg O.C.~ -.:.1 . 1991. Cl1dlngS.171~~.. .~O. 19 92 ~@g1
(;'001"""". n' ,,.. I".u~rl
'"","... "'_""'" r......'(1' ~ Inslructlons urn 5opnrntc, Sou P.UlO 1 for Pnporwork "oductlon Act Notico.
A Ct1eck ,f.1 Uso I.'~-. o [mplowor Idantlfleallon number
It I Con'!.OI'dollt'd It'lufM 0 IRS MMMMMMMllllll 5-0IGIT 17043 2J-19J5767
IJIlJCh Form 8~11 label. NO 23-1935767 SEP92 S28 5995 M
m f't'I'!.on.ll hOlding co 0 Other. c [J.1I1! Illcu'IJOhlll~
lilltJCh Sch Pt., WISO, WRAYS MUSIC HOUSE INC --2J. 26 /71,
13) Ptf~onJI St".'Wce cerp pion so 370 MARKET ST 112
IoU ce!.l"ti] In rfff'P print or o TctJI.1'l.,el!. t~et ~C<<II,c In51r\iCl'on!.1
~t9S 5(1( 1.a,u..U- LEMOYNE PA 17043
5t'eln~I'\<Clcn51 0 typo.
E Cnf'C1I. 01[101'C30'0 DOles III o In,I,,'}lfI'lum m [J r"',IIIl.'ILJIn 131 0 Ch.lnuo If! adl1ff''':iS $ 807.Q04
10 Gross rece1plS or SJles I 1.307.8311 Ib less returns and allowancesl 4 ,612 I I c Oal ~ Ie 1 303 219
2 Cost of goods sold (SChedule A. line 7) 2 929.977
3 Gross profit. Subtract line 2 lrom Ilno 1 c 3 373 242
4 DIVIdends (Schedule C. line 19) 4
~ 5 Interest 5 171
e
0 6 Gross rents . . . 6
u
.5 7 Gross royaltIes . 7
6 Coplt.1 gaIn netlncomelaltach Schedule 0 (Form 11201) 8
9 Net gain or (loss) from Form 4797. Pari II. line 18 (allach Form 479n 9
10 Other Income (see InstructIons-attach schedule) 10
11 Total Income. Add Imes 3 Ihrough 10 . ~ 11 ,73 1.1~
~ 12 Compensation 01 officers (Schedule E. line 4) . 12 7R n~n
c Sal.nes and wages I 96 . 705 lib Less Jobs credit ":0":1 . . . .
0 130 1 1 c Balance ~ 13c 96,705
:::
u 14 RepairS 14
,
"
~ 15 Bad debts 15 7,371
"
c 16 Rents 18 18,000
0
~ 17 Taxes 17 21.778
c
.2 18 18 21.533
!! Interest . . . . . . . . . . . . . . . . . . . . . . . .
] 19 ~""""."H ."..".... ~1~ y.,". ",", . . . 19
" 20 OeprecI.tlon (allach Form 4562). ....J. .f..;. \ .'. I 20 I '2 ;909', .
~ 1 2.909
. 21 ~::~e~,~:ecl~tIO.n c~al~ed. on. sc~e~ ie _. ~~ IS. _:i'~trr~' :\. ( : 1 ~'~ I 21b
c
.2 22 22
U
S 23 Advertising 23 10.022
. 24 Pension. prolit,Shanng. otc,. plans 24 18.469
.5
~ 25 Employee benefit programs 25 12.459
~ 26 Other deductions (attacn schedule) . 26 62.602
..
c 27 Total deductions. Add Imes 12 through 26 . 27 349.898
.!! ~
U 26 Taxable mcome before net operallng loss deductton and special deductions, SUbtra~t tne 27 from line 11 26 23.515
,
" 29 Less: a Net operating loss deduction (see Instructlons). . . . . . 1 29a -I
~
c b Special deductions ISchedule C. hne 20) . . 1 29b I 1 -0-
29c
30 Taxable Income. Subtract line 29c from tine 28 30 23.515
31 Total tax (Schedule J. hne 10) ~~,,;;..,t~~ 3.527
32 Payments:. 1990 O'ierp.yment crmed 10 t99t 320
.. 3,600
C b 1991 estimated tax payments 32b "./-,.., %.. ~L. ..,.., Wi;
~ ( ) dBal ~ 3.600
e c Less 1991 relund 3ppfled for on Form 4466 32c 32d
..
~ e Tax deposited With Form 7004 32.
" I CredIt from rcgulaled investment companies (attach Form 2439) E!... p;;J1
c
~ Credit for Federal tax on fuels (attach Form 4136). See instructions 3:!nl 32h 3.600
. g
~ 33 Estimated tax penalty (see page 4 of inslructions). Check if Furn 2220 I~ "~:._tKJ ~ 0 33
34 Tax due. If the total 01 lines 31 and 33 is larger than line 32h, enter amount owed 34 -0-
35 Overpayment. II line 32h IS larger than the total 01 lines 31 and 33, enter amount overpaid 35 73
36 Enter amount of line 35 you wan!: Credited to 1992 estimated tax ~ 71 nolunded ~ 36 -0-
Please Under penallles 01 perrury. I decl,)re tn.111 h,)~e e.amlnea HilS retum. Including 0l.::t:Cr:'p.inY1l1g:ocr '~ and ~la'ements. and to Ine beSI of my knowledge
and tehel. IllS true. correct. and complejo. Dl'ClarallQn 01 precater (other than tilJlpJ.t>f) is ba.sed 0' "jrrr.J!,on Ol...l'Il(;h preparer has any kno....ledge.
Sign ~ ~~~alu'e 01 oll~.' I '( ,<-
Here J.~
Dale 'TIlle
Preparer's ~. --I. 'j (~ [1'11 Oall' ., ' I p;ePJrcr's SOCIal security number
Paid Check II
Signature 12/4/92 self.employed 0 178 : 38 : 0954
Preparer's Flrm'S name lor ~ R. Wrn. Wire Associates. P.C. 1 E.I. No ~ 23 .2031~22
Use Only yOurs II sell.employedl
and address 19 S. 19th St. . Carnn lIill P^ I ZIP ccae ~ 17011
Cat rIa" ~soo
1
2
3 Cost of labor .
40 Additional section 263A costs (see mstruCliOn5-.1l1ach 5chlX1ule)
b Olhcr coslS (allach SChL'C1ulo)
5 Total. Add I,ne. 1 through 4b .
6 Inventory at end of year. .
7 Cost of goods aold. Subtract line 6 from Iinc 5. Enlcr here and on hne 2, page 1
Sa Check all methods used for vnluing clOSing Inventory:
(I) 0 Cost (II) {Xl Lower of cost or market as descnbed in Regulations secllon 1.471.4 (see instructions)
(III) 0 Wntedown of 'subnormal" goods as descnbed in Regulations sectIOn lA71.2(c) (see ,""ructions)
(Iv) 0 Other (Specify method used and attach explnnntlOn.) ~ ................................................~............................
b Check if the LIFO inventory melhod was adopted thiS tax year for any goods (" checked. attach Form 970) ~ 0
c If the lIFO inventory method was used for this tax year, enter percentage (or amounts) of clOSing LJ L
inventory computed under LIFO . . . . . Be
d 00 the rules of section 263A (for propeny produced or acquired for resale) npply to the corporation? 0 Yes [] No
e Was there any chango in determining quantities, cost, or valuations between opening and clOSing Inventory? If lOVes,"
allnch explnnation . . . . . . 0 Yes
Talal deducllan.. Add lines 9.10.11.12. and 18. Enter here and on line 29b. po e 1 ....
Compensation of Officers (See instructions for line 12, page 1.)
Complete Schedule E only il totn' receipts Vme In plus 'ines 4 through 1001 pnge I. Form 1120) are 5500.000 or more.
(c) Percent 01 I!'l'Cenl 0 C~'POI'.JI>Oft
(b) SOCial security number limo devoled to
bUSIness
Cost of Goods Sold See Instructions.
Inventory 01 bug Inning 01 yem
Purchases.
~ Dividends and Special Deductions (See instructions.)
1
Dividends from less.than.20%.owned domestic corporations thai are subject to the
70% deduction (other than debHinanced stock) . . . . . .
Dividends Irom 20%.or.moro.owned domestic corporations that are subject to the
60% deduction (other thnn debt.linanced stOCk),... .."I!'.... . . . . . . .
Dividends on debt. financed stock of domestic anln'c~r. ion ('\I\" n ~.Al!
Dividends on certain preferred stock of les.s.thil.2 Q' W u Ii ~i~t( . \ j .J
DiVidends on certain preferred stock of 20%'0(' . . ~ . b.le ~ 1,Ii es .... f
Dividends from less.than.20%.owned foreign corp' lohs and: ertaln SCs that tire
subie<:t to the 70% deduction . . . . . . . .
Dividends from 20%.or.more.owned foreign corporations and certain FSCs that are
subject to the 80% deduction . . . . . . .
DiVidends from Wholly owned foreign subsidl3nes subject to the 100% deductIOn (section 2451b))
Total. Add lines 1 through 8. See instructions for Iimilation .
Dividends from domestic corporations received by a small business investment
company operating under the Small Business Investment Act or 1958. .
Dividends from certain FSCs Ihat arc subject to the 100% deduction (section 245(c)(1))
DiVidends from affil;ated group members subject to the 100% deduction (section 243(0)(3))
Other dividends from loreign corporations not included on lines 3, 6. 7. 8, or 11 .
Income from controlled foreign corporations under subpart F (attach Forms 5471) .
Foreign dividend gross.up (section 78) . . . . . . . . . . .
IC.DISC and fonner DISC dividends not included on lines 1, 2. or 3 (section 246(d)) .
Other dividends . . . . . . . . . .
DeductIon for dividends paid on certain preferred slock of public utilities (See instructionsl
Talnl dividend.. Add line. 1 lhrough 17. Enter here and on line 4, pnge 1 . . ~
2
3
4
5
6
7
8
9
10
11
12
13
14
16
16
17
18
19
20
(a) Name 01 oHlecr
1 E. 20 %
Jr. 100 %
100 %
%
%
2
3
4
Total compensation of officers.
Less: Compensation of officers claimed on Schedule A and elsewhere on return
Compensation of olficcrs deducted on line 12. paQe 1
P,ll')n 2
--.!-
2
3
579 ,1,68
9h6 326
4.
4b
29 1,07
575 201
6115 221,
929 977
5
6
7
[] No
(a) Owldends
recewed
lei Special deductIons;
lap lb)
lb)%
70
60
,..
I",'ru II n'l
41.176
47.059
70
.
..
(d) Common
22.2 %
38.9 %
38:9 %
%
%
(e) PreFerred
(t) Amount 01 compens.1tlOn
% 4,800
% 46,650
% 26 600
%
%
78,050
78.050
fOlm t12d 119911
~ Tax Computation
1 Check II you are a member 01 il controtlt.'d group (5t!(! f.ectlons 1561 nnd 1 flfi3) ~ fJ
2 II the box on hne 1 is checked:
o Entcr your share 01 the 550,000 and 525.000 tallabto Incomo brackot amounts (II' that order,
(I) 1$ I I (II) 1$ I I
b Entor your sharo 01 the addItional 5% tall. (nol to o.Cl'l'd S 11,750) . .... l!.-.
3 Income tax (sce Instructions to flgurc tho tax). Chcck HilS UOIl. II tho corporal Ion 15 a Qualified personal !.CNICO
corporatIon (500 instructions on pago 131 . ... 0
441 Foreign tax credit (attach Form 1118) . 4a
b PossesSions tax credit (anach Fonn 5735) 4b
c Orphan drug credit laUach Form 6765) 4c
d CredIt for fucl produced Irom 3 nonconventlonal source (see instructlonsl . 4d
e General business credIt. Enter here and check which forms are attached:
o Form 3600 0 Form 3466 0 Form 5664 0 Form 6476
o Form 6765 0 Form 6566 0 Form 8630 0 Form 8626
Credit lor prlor year minimum tax (attach Form 8827) .
P.1Qe 3
3,527
~
4e
41
i" ,"-/ 5 -D-
o . ,
\: l
.11 6 3,527
7 -0-
6 -0-
90 -0-
9b -0-
10 3.527
Tollll. Add lines 40 through 4f . ~rU . ~ WI .
6 Subtractllno 5 from line 3 . . \,~ ; ~U) t. (
7 Personal holding company tax (aUach Schedule PH (Form 1120)) .
6 Recapture taxes. Check if from: 0 Form 4255 0 Form 8611
9a Alternative minimum tax (attach Form 4626). See instructions
b Envrronmentat tax (allach Form 4626)
5
10
Schedule K
1 Check method of accounting:
o 0 Cash
b !Xl Accrual
c 0 Other (specify) ~ ...................................
2 Refer to the list In the instructions and state the principal:
a BUSiness activity code no. ~......?? ~.~..............
b Business activity ~...J!.Il~.1,1J),..~!!,1,\'.~..............
c Product or service ~):l!!~J.C;!!~...~!W.~..~...~!l.p.P.~i
3 Did the corporation at the end 01 the tax year own,
directly or indirectly. 50% or more of the voting stock
of a domestic corporation? (For rules of attnbution, see
section 267(c).)
If .Yes." attach a schedule showing: (al name. address,
and identifying number; (b) percentage owned: and (c)
taxable income or (loss) before NOL and specliJl
deductions or such corporation for the tax year ending
with or within your tax year.
4 Did any individual. partnership, corporation. estate. or
trust at the end 01 the tax year own. directly or Indirectly,
50% or more of the corporation's voting stock? (For
rules of allribution. see section 267(c).) If "Yes'-
complete a and b
a Attach a schedule showing name, address, and
Identifying number.
b Enter percentage owned ................................
5 Did one foreign person (see instructions for definition)
at any time during the tax year own at least 25% of:
a The total voting power of all classes of stock of the
corporation entltled to vote. or
b The total value of all classes of stock of the corporation?
If "Yes." the corporation may have to file Form 5472.
II"Yes." enter owner's country(les)'" ..................
Enter number of Forms 5472 attached ...
Was the corporation n U,S. shareholder at any controUed
lorelgn corporation? (See sections 951 and 957.)
If "Yes." attach Form 5471 for each such corporatIon.
Enter number of Forms 5471 attached ~ ...............
At any time during the tax year, did the corporation have
an Interest In or a signature or other authority over a
financial account in a foreign country (such as a bank
account. securities account, or other financial account)?
,
(See page 15 of the instructions for more information.
including filing requirements for Form TO F 90.22.1.)
U.Ves," enter name 01 foreign country'" ..............
8 Was the corporation the grantor of, or transferor to. a
foreign trust that existed during the current tax year.
whether or not the corporation has any beneficial interest
in it? .
If "Yes," the corporation may have to file Forms 3520.
3520.A. or 926.
9 During this tax year. did the corporation pay dividends
(other than stock dividends and distributIOns in exchange
lor stock) in excess of the corporation's current and
accumulated earnings and profits? (See sections 301 and
316.) .
It "Yes." file Form 5452. II this is a consolidated reI urn.
answer here lor parent corporation and on Form 851,
Affiliations Schedule, for each subsidiary.
Check this box it the corporation issued publicly offered
debt Instruments with original issue discount. . ~ 0
If so, the corporation may have to file Form 8281.
Enter the amount of tax.exempt mterest If:Celved or
IS Nonel
accrued dunng the tax year ...
If there were 35 or fewer shareholders at the end 01 the
lax year, enter the number'" 3
Liabilities and Stockholders' Equity
Accounts payable . . . . . . .
Mortgages. notes. bands payable in less th3n 1 year
Other current liabilities (attach schedule). .
Loans from stockholders . . . . . .
Mortgages. noles, bonds payable In 1 year or more
Other liabilities (allach schedule) .
Capital stock: a Prelerred stock
b Common stock
Paid.in or capital surplus . . .
Retained eam1ngs-Approprlsled (attach schedule)
Retained earnings-Unappropriated . 413 341
Less cost oflreasury stock. . . . . . 28 621
Totalliabilities and stockholders' COUlly. . 751 373 807 04
. . Reconciliation of Income per Books With Income per Return (This schedule does not have to be
completed if the total assets on line IS. column (d). of Schedule L are less than 525.000.)
19 581
3 527
.............................................. g Add Ilnos 7 and 8 . . . . , .
AddlineslthrouhS....... 23.515 10Income,hne2B.paget}-I,ne6Iessllne9
Analysis of Unappropriated Retained Earnings per Books (Line 25, Schedule L) (This schedule
does not have to be compleled if the total assets on line IS. column (d), of Schedule L are less than 525,000.)
1 Balance at beginning 01 year . . . ., 413.341 5 D,stnbutlons: a Cash. .
2 Nellncome per books . . . . . . . 19.581 b Stock
3 Other Increases (Itemize): ................,.. c Property.
...... ...... ....... ..... ................. ..... 6 Other decrease!> (1Iemlze): ....... ..0...
Form 1120 (19911
Balance Sheets
Assols
1 Cash
2lI Trade notes and accounts recelvablo .
b less allowance lor bad debts
3 Invenlanes . . . . . . .
4 U.S, government obligatIons . .
5 Tilx.exempt seCUrities (see instructions). ,
6 Other current assets (attach schedule) P.re,p
7 Loans to stockholders . . . .
8 Mortgage and real estate loans
9 Other Investmenls (attach schedule)
10a BUildings and other deprcciable assets
b Less accumulated depreciation
110 Depletable assets . . . .
b Less accumulated depletion
12 Land (net 01 any amonlZatlon) .
130 Intangible assets (amortizable only)
b Less accumulated amortization
14 Other assets (altach schedule) . .
15 Total assets . . . . . . .
16
17
16
19
20
21
22
23
24
25
26
27
1
2
3
4
Net income per books . . . . . .
Federal income tax . . . . . . . .
Excess of capItal losses over capital gains .
Income subject to tax not recorded on books
this year (itemize): ...........................
..............................................
5 Expenses recorded on books this year not
deducted on this return (Itemize):
a DeprecIation . . . . S .................
b Contributions carryover S .................
c Travet and entertOlnment S .........~~?....
..............................................
..............................................
..............................................
PaQe 4
()ml1rllllnq all.,. ~c;u
End 01 1.1J1 ~'eilr
(al (bl (c) (d)
3J;;}]ff:?H%J~ ~,;~2,;,~~7C' '%WJJiW}$'S~ ,~,,~~423
107,0 16 Y~/l~;{#!.;?;:; 117 248 ifj'iWl~
( -0-) 107,016 I 117 21,8
579.468 645 224
12.391
7 844
34 101
277 141
7 Income recorded on books this year not
included on this return (itemize):
a Tax.exempt interest S .................
.........................................
.........................................
8 DeductIOns ~n thiS return not charged
against book mcome this year (itemlzel:
a Depreciation . . . . S ...........
b Contributions carryover S ...........
.........................................
407
.........................................
.........................................
.,.......,...............................
Add lines 5 and 6 . . . . . .
Balance at end of 'Year (line 4 less line 7)
~
rem
4562
De...eciatlon and Amortization
(Including Information on Listed Property)
o.~m.nl cll~ "'uurv
InllW'l\ll n......... s.....c.
... See !lopamlo Instmctlon5.
... Altnch this form to your return.
N.1mOisJ $ho....n on relurn
OMU tlo, 1545.0172
~@91
AllJchmcnf
5f!QUtmCC "0. 67
IdonlJtymg number
23-1935767
Wrays Music 1I0u!lc. Inc.
DutlnGSS or aCllvlty to which thl\ form 101.110'
Retail sales of musical inBtrumentn (.. Huppl!un
ImI Election To Expense Certain Tangible Property (Section 179) (Note: If you have any "Listed Property,"
com lefe Part v.)
Com uter 425
Phone s stem 1 120
7 Usted property-Enter amount from line 26 . . . . . . . 7
8 Total elected cost of section 179 property-Add amounts in column (c), lines 6 and 7
9 Tentative deduction-Enter the lesser of line 5 or line 8 . . . . . . . . . .
10 Carryover of disallowed deduction from 1990 (see instructions). . . . . . . .
11 Taxable income limitation-Enter the lesser of taxable income or line 5 (see instructions)
12 Section 179 expense deduction-Add lines 9 and 10, but do not enter more than line 11 .
13 ea over of disallowed deduction to 1992-Add lines g and 10. less line 12 ~ 13
Note: Do not use Part tI or Part /1/ below for automobiles, certaIn other vehicles, cellular telephones, computers, or
property used for entertainment, recreation, or amuse t Iliated property). Instead, use Part V for listed property.
MACRS Depreciation For Assets Ie (j'J~~Y During Your 1991 Tax Year (Do Not Include
Usted Property) . -),.-:--.r... .
(b) Mo. and yr. (c' ~ Of P I']n IdfRccovery I
(I) ClasslficallOn 01 property placed {B iIr!e. so J po ~ (e) Convention
in servlCo on -see instructions - ponod .I
14 General Depreciation S stem (GDS) (see instructions):
3- ear property
5-year property
7 -year property
10.year property
15-year property
20-year property
1 Maximum dollar limitation (see instructions) . . . . . . . . . . . . . . .. 1
2 Total cost of section 179 property placed in service during the tax year (see instructions) . 2
3 Threshold cost of section 179 property before reduction in limitation. . . . . . . 3
4 Reduction in limitation-Subtract line 3 from line 2, but do not enter less than -0- . .. 4
5 Dollar limitation for tax ear-Subtract line 4 from line I, but do not enter less than -0- !i
(.) Ooscnplion 01 property (b) Cost (e) EleclOO cost
6
425
1.120
-0-
a
b
c
d
e
f
Residential rental property 27.5 yni. MM S/L
9 27.5 MH S/L
rs.
h Nonresidential real property 31.5 yrn. .'1M S/L
Jl.5 yrs. .'1.'1 S/L
15 Alternative Depreciation System (ADS) (see instructions):
a Class life S/L
b 12. ear 12 yrs. S/L
C 40-year 40 yr~. MM S/L
ImIII Other Depreciation (Do Not Include Listed Property)
16 GDS and ADS deductions for assets placed in service in tax years beginning belore 1991 (see
Instructions). . . . . . . . . . . . . . . . . 16
17 Property subject 10 section 15B(n(l) election (see instructions) 17
18 ACRS and other de reciation see instructions). . . . . 18
IillIDrJ Summary
19 Usted property-Enter amount from line 25 . . . . . . . . . . . . . . . . .
20 Total-Add deduc1ions en line 12, lines 14 and 15 in column (g), and lines 16 through 19. Enter here
and on the appropriate lines of your return. (Partnerships and S corporalions-see instructionsl
21 For assets shown above and placed in service during the current year, enter
the portion of the basis attributable to section 263A costs see instructions) 21
For Paperwork Reduction Act Notlco, soe pogo 1 of the separato InstructJons.
Cal. No. 12906N
510,000
1.545
5200.000
-O-
lD.OOO
8
9
10
11
12
~
1.545
1.545
-0-
10,000
1.545
1.208
156
19
20
2.909
Fa,," 4562 (199'1
UTILITY SCHEDULE
(i1ili' If 17!1~
Name .Jo/rays Music 1l0use_L~l)_<:_,_________
Address 370 Market Street
Lernoyne. PA 17043
1120
SocIal Sccullty Of
tden,,"callon No 23-:1..9}?7~L____
Year Ended __S_~l't_e!"ber 30 1921
-~-----_._-_.._-~--
Form
Schedule
Line
Year - 9/30'/9-;Z-
Form 1120 Pa e 2 Schedule A Line 4b Other Costs II II
I I II '
................................................................... .............,........,........,..................,......... ....... .................. ......,...................'...r......' ..u.... '.,., .......', ..........~.... .....
........l!-.\\P.I!.~r.!!...i!.Il9....~!mJml..............................................................................................................9...9.~.(\..T........L........................:.........
........f..r.I!.~gh~............................................................................................................................... .......... 19 , 4 5 1............1.........................:.. .......
I.. I '
.:::::I9.f~:~::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: ::::::::::'ig';,,'(f;.::t::::::::: I ::::::::::::::::::::::::::~::::::::
::::::::::::::::::::::::::::: :::::::::1 ::::::::::::::::::::::::::I::::::::
.................................................................................,...................,..................................................
.. Form 1120.
1,
Line
17.
,..................,...........................,..............
Taxes
PaRe
::::::::r.:~y.~:Qii::::~:li~~:~:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::i:~:~~~:~:::1:::::::::t:::::::::::::::::::::::::::::::::::
........r..\\nn.\l..,...~.!1.J;P.g.r.M~J9.ll....~.I!~I!.!!................................................................................. ............ 6, 9~ 2...1.........1..........................~........
.:::::::iQi.~X;:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::'il';7'7'S'J::::::::If::::::::::::::::::::::::::~::::::::
........................................................................................................................................................ ......................................r........................~........
..,f,grrn .l.l ~O .....~II.&\Lt... j,iJl.l!...~.6.......Q.tl1.\1r...))l!d1.\ctiQlIS................................. ............................. .......J..........................:.........
::::::::~~~:~~:~~~:~~::::::::::::::::::::::::::::::::::::::::::::::::::;:::::::::?~:::::::::::::~:::::::::~~:::::::::~::::::::::::::::::::::::~:~:~~~::r:::::::t::::::::::::::::::::::::::::::::
........!!:\!!.'f!!.!!.x:!~.!:........................................................Ci1J. .........J1D7:.. :...f}..[l.)......l............. .............?d.?..L.l.........Il..........................l........
........~I~.i:h.~:~...:~.~~.\!!:\~.~~IL........................@l.J:::,.\;U.).....:.. :..........: ..:/".... ..........l~.'.~.g~... .........~..........................7........
................................~............................................................................ ........ ..L.........L,........ ................,............l.........~....................................
........~~.~.'f~....;!!!.p.p.!.~.~!!................................................................................................'.::......... ............}.,),~9.............lf....................................
........~!!.~.~!?~.~!.!!.~~.~.x:!ft...........................................................................................................~............},I.~.??.... ..........l..........................~........
Taxes and licenses . 3.325 JI '
...........,....................................................................................................................................................................................L....................................
........f~~.~~!!.~~!:.ens.;;..............................................................................................................! .............~.,.1~~...'.........lf..........................~.........
.............................p..........................................................................................................................1................,............ ........1.....................................
........~.~~.~~~.~t~.~:~...~.~~:.~.fii~:~~t.~!.!!.~~....~!!.!!~!!................................................). .............'C.c;zf.. .........l.....................................
........................................................................................................................................................ .......................................l....................................
Utilities 1 9.790 II .
:::::::;~~~;::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::<:::::::::~'Z';'6'O'2:J::::::::'::::::::::::::::::::::::::F:::::
..._._...._..........................._................................_........................._.........................._._..,......_........_..-.l.........L....................;.......
.. forrn..ll ~O>..j~lIg\1...~ . ...S~ 1J~4.\Ite. ...j,.....Ulle...l.8.,...Q~.I1.e.J:'...C\ln.e);\.t...Li .;Ui~ie.s.........f.........~..........................;.........
........................................................................................................................................................jr.....Be.l:.innin"I.......t..........Ending.........
.......Acc.~ued.....a...rolI...t'iixe.s.......................................................:.................................~..................2.z5....t.........~............f".!5'50..~.........
.............................I~...y..................................................................................................................... .............................................................................
........f.!!:.'....!!.!!.~~.!!...~.!!~...p.!!:y..~!?).~.........................................................................................r...........~.,.7..n..\.........t..........~....U.L.........
.......!.\~.!;.'f~.!:~...p..'f~Jg....~.h.!!!~.x:!g..p.!!.y.!;\!?).<;!;.............................................................................t?.I.!!.Q9.... .........L......!.?....Q9.9............
.......!.\!i.!;.'f~.!:.~...!!.~.!!.tl!....!!!:\~..J.!;.\!~.F..!!!....~.!!.~.l!.!!.............................................................J......... 8.680 ...l.........L......I0. 439 ...........
.......TOTALS................................................................................................................................. i..........2.:;.;.7.o'f+........~.........34.;.lo'i"~........
:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::c::::::::.................::::::::::::i\::::::::.................:r:::::
:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::r::::::::::::::::::::::J:::::::
":::::::::::::::::::::::::::::::=:::::::":j:::::::::::i=l:::::1:
!I I ~ I !
rerm 1120 u.s. C\Jrporatlon Income Tax Retun. oMn No. 1~5~123
Drplltmrnl ollhll Trusury ra' cal.nd., V'" 19900' III V,., blalnnlnl. .9~:~:..).....o 1990. .ndlna. .~~~!~t::.. )~l. ..19 . P.! ~@90
Int.rn.1 ",unUII S''''''lcr Ii-' Inltructlontl,e ..p.rale. See palle 1 for Paperwork Reduction Act Notice.
Check II. UII I ~.-. o Emplov" Id.ntUlClllon numb"
A Co"sohd.alrd rrlurn 0 IRS jHHHHOHHHOf 5-0IGIT 170(.3 23-1935767
. Perlon,1 holding co 0 I.bel. NO 23-1935767 SEP91 S28 5995 M I 1 Ollelncorporaled
Olher. R
C Pellonll,rMclI wls" WRAYS MUSIC HOUSE INC 9/26/74
colp(n defined In plene 370 MARKET ST 052 S
Tlmp. Regi, lee. J Tol.1 "$ell (ue SpttlflC InSlructlons)
1.441.4T-ulI 0 prlnl
Ins"u(lIoru,) orlJPI. ,LEMOYNE PA 17043
'CheckIPpllublebol's: (l)[llmtlal,elurn (2)"-1 r.n.alrelurn (J)f.l Cho1ngehllddreu $ 751,373
la Grosumiphor ulesl 1.175,952 1 I b less returns .nd .!lowlRCesl 7.948 1 1 c 8.1.- 1C 1,168,004
2 Cost of goods sold (Schedule A,!lne 7). 2 813,084
3 Gross profit (line Ie less line 2) . 3 354,920
4 Dividends (Schedule C,line 19) . 4
.. 5 Interest -5' 500
E
0 6 Gross rents 6
u
.E 7 Gross royalties 7
8 Capital gain net income (attach Schedule 0 (Form 1120)) 8
9 Net gain or (loss) from Form 4797, Part II, line 18 (attach Form 4797) 9
10 Other inceme (see Instructions-attach schedule). . 10
11 Tolallncome Add lines 3 Ihrouuh 10 .'- 11 355,420
12 Compensation of officers (Schedule E.line 4) , . . . . . . . . 12 68,550
i 13a Salaries and wages I 88,4401 I b less jobs creditl -0- I 1 c Balance .- 13c 88,440
.
1l 14 Repairs 14
i 15 8ad debts. ., 15 6,784
..
c 16 Rents 'CS'(2) 1])"'-7 . 16 18,000
. '.
. , 18,758
c 17 Taxes 17
. .. '.'U'
= 23,333
:I 18 Interest 18
~ 19 Contributions (see Instructions for 10% limitation) . 19
. : i 20 I' '1 ;5601'
~ 20 Depreciation (attach Form 4562)
.
j 21 less depreciation claimed on Schedule A and elsewhere on return. . 121a I 21b 1,560
II
~ 22 Depletion . 22
. 23 Advertising 23 11,456
.!i
~ 24 Pension, profit.sharing, etc., plans. 24 17,240
25 Employee benefit programs . .... 25 12,408
.. 2~
c 26 Other deductions (attach schedule) 65,335
0
;: 27 Total deductions-Add lines 12 through 26. .'- 27 331,864
u
::J 28 Taxable income before net operating loss deduction and special deductions (line 11 less line 2,7) . 28 23,556
"0 .
II 29
Q less: a Net operating loss deduction (seelnstructiens). . . . . . . I 29. I
b Snecial deductions {Schedule Cline 201 . I 29b 1 29c
30 Taxable Income-line 28 less line 29c . 30 23,556
31 Total tax (Schedule J,lIne 10) - 31 3,533
.. 32 PJymenls:al989 overpaymenl mdil.d to 1990 32a 3,020 iI!
.. ~
c b 1990 estimated tax payments 32b
..
E c less 1990 refund applied fer on Form 4466 32c ( \ d 8.,.- 32d 3,020 -
'"
~ e Tax deposited with Form 7004 32e
"0 f Credit from regulated Investment companies (attach Form 2439) . 32f
c
.. 8 Credit for Federal tax on fuels (attach Form 4136). See Instructions. 32<< 32h 3,020
..
{! 33 Enler any penalty for underpayment of estimated tax-Check'- 0 If Form 2220 Is attached 33 -0-
34 Tax due-II the total of lines 31 and 33 Is larger than line 32h, enter amount owed . 34 513
35 Overpayment-If line 32h Is larger than the total of lines 31 and 33, enter amount overpaid. . 35
36 Enler .mount 01 line 35 .eu w.nt: Credited 10 t9911111mlled In ~ I Rofunded ~ 36
Please Undel cenlllitS of perjury, I declarlllhalI have eUlmined this return, Includmg accomp,nylng schedules and sLltements, end to the best or my knowledglllnd
behef, tis Ilue. correct, and complete. Declaration of pre parer (other Ihan taxpayer) Is based on alllnformalion of whiCh ptepare! hu In)' knowledgll,
Sign ~ ~8n"u" o'eff<er I ~~'6
Here
Dale
P,ep.1'llt', ~,..~.. ~,(',.,- CI'A I O.le I 1 Prepare'" Soclll security number
Paid sIgnature r ^ 11/11/91 ChKkU n .
Pre parer's .e".employed 178 38 ! 0954
Use Only Firm's Nme (or 1)/ ~ R. Wm. Wi're Associates, P.C. I EJ.tlo. ~ 23 2031522
yours ,f self.emplO)'ed) 19 South 19th St. , Camp lIill. PTI I liP code ~
and .ddreu 1701
r
Form 1120(1990)
~ Cost of Goods Sold (See Instructions for line 2. pa 'e 1.)
1 Inventory at beginning of year
2 Purchases . . . . . . . . . . . . . . . . . .
3 Cost 01 labor. . . . . . . . . . . . . . . . . .
4a Additional section 263A costs (see Instructions-attach schedule)
b Other costs (attach schedule) .
5 Total-Add lines 1 through 4b. . . . . . . . . . . .
6 Inventory at end of year . . . . . . . . . . . . . .
7 Cost of goods sold-Line 5 less line 6. Enter here and on line 2, page 1.
8a Check all methods used for valuing closing Inventory:
(I) 0 Cost (II) lRl lower of cost or market as described in Regulations section 1.471.4 (see Instructions)
(III) 0 Writedown of .subnormal" goods as described in Regulations section 1.4 71.2(c) (see Instructions)
(Iv) 0 Other (Specify method used and attach explanation.) ... _. _ - _ - - -... - - - - -..... - - - -.. -..... - -.. -.... - -.. - -.... - -... - -....
b Check lithe LIFO Inventory method was adopted this tax yearfor any goods (if checked, attach Form 970) ~ . . . . . 0
c If the LIFO inventory method was used for this tax year, enter percentage (or amounts) of I I L
closing Inventory computed under LIFO. . . . . . . . . . . . . . . . . . . ~
d Do the rules of section 263A (with respect to property produced or acquired for resale) apply to the corporation? . . 0 Ves Ii[] No
e Was there any change in determining quantities, cost, or valuations between opening and closing inventory? II "Ves,"
attach ex lanation . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 Ves I[] No
mDD Dividends and Special Deductions (See Instructions.) (I\:::~~:~d'
P'R' 2
t
2
3
4a
4b
5
6
7
54ft,351
022,434
21,767
1,.192,552
579,468
013,084
Ib)l6
(e) Special deduc1lons:
(I)xlb)
1 Dividends from less.than.20%.owned domestic corporations that are subject to the
70% deduction (other than debt. financed stock) . . . . . . . . . . . .
2 Dividends from 20%.or.more.owned domestic corporations that are subject to the
80% deduction (other than debt.financed stock) . 'r::':!~' . '" "7 . .
3 Dividendsondebt.financedstockofdomesticandforeig~CDll/ raJjl, (.., 0~4'6A)
4 Dividends on certain preferred stock of less.than.20%.0Wrre'd p IC lities . . .
5 Dividends on certain preferred stock of 20%.or.more.owned public utilities. .
6 Dividends from less.fhan.20%.owned foreign corporations and certain FSCs that
are subJect to the 70% deduction . . . . . . . . . . . . . . . . .
7 Dividends from 20%.or.more.owned foreign corporations and certain FSCs that are
subjecllo the 80% deduction . . . . . . . . . . . . . . . . . .
8 Dividends from whelly owned forelln subsidiaries subj!(lto the 100% deduction (section 245(b))
9 Total-Add lines 1 through 8. See Instructions for limitation . . . . . . . .
10 Dividends from domestic corporations received by a sma Ii business Investment
company operating under the Small8uslness Investment Act of 1958 , . . . .
11 Dividends from certain FSCs that are subject to the 100% deduction (section 245(c)(1))
12 Dividends from afllllated aroup members sublectto the 100% deduction (seellon 243(a)(3))
13 Other dividends from foreign corporations not Included on lines 3, 6, 7, 8, or 11
14 Income from controlled foreign corpora lions under subpart F (attach Forms 5471)
15 Foreign dividend gross. up (section 78) . . . . . . . . . . . . . .
16 IC.DISC and former DISC dividends not Included on lines 1,2, or 3 (section 246(d))
17 Other dividends . . . . . . . . . . . . . . . . . . . . . .
18 Deduction lor dividends paid on certain preferred stock of public utilities (s~e Instructions)
19 Total dividends-Add lines 1 through 17. Enter here and on line 4. page 1...
70
80
...
IrattuctlOns
41.176
47.059
70
I
,
20 Total deductions-Add lines 9,10,11,12. and 18. Enter here and on line 29b, page 1 . . . . .
Compensation of Olllcers (See Instructions for line 12, page 1.)
Complete Schedule E only if total receipts (line la, plus lines 4 through 10, of page I, Form 1120) are $500,000 or more.
(e) Percent 01 Percent 01 corporatIon
(b) Social security number time devoltd to stock owntd
busmess (d) Common (e) Preferred
20 % 22.2 'l6 %
100 % 38.9 'l6 %
100 % 38.9 'l6 %
'l6 % %
% 'l6 'l6
(I) Name of olflcer
{Q Amount 01 compensation
Nana E. Wra
William A. Wra Jr.
NanaW. DeStefano
526-18-5669
175-40-5844
195-38-9659
80
38 7
25 000
2 Total compensation of oflicers . . . . . . . . . . . .'. .
3 less: Compensation of officers claimed on Schedule A and elsewhere on return
4 Compensation of oflicers deducted on line 12, page I . . . . . . . .
68 550
(
68,550
--
,.-.
. rorm 1I~O(\990)
mmm Tax Computation
O Z01if
1 Checklfyouareamemberofacontrolledgroup(seeseclions156land1563). . . . . . ~ f,%!j
2 If the box on line lis checked: IIW%~
. Enler your share of the $50,000 and $25,000 taxable income bracket amounts (in that order): ~lsJ
(I) IS I I (II) IS I I II:
b Enter your share 01 the additional 5% tax (not to exceed $11,750) ~ Is .
3 Income tax (see Instructions to figure Ihe tax). Check this box if Ihe corporation Is a qualified personal
service corporation (see Instructions on page 12). ~ 0 . . . . . . . . . . . . . . .
4. Foreign tax credit (attach Form 1118) . . 4a
b Possessions tax credit (attach Form 5735). . . . . . . 4b
c Orphan drug credit (attach Form 6765). . . . . . . , 4c
d Credit for fuel produced from a nonconventional source (see @i'N,
Instructions) . . . . . . . . . . . . . , . . 4d
. General business credil. Enler here and check which forms are attached: ~I
o Form 3800 0 Form 3468 0 Form 5884 W;.f!},
o Form 6478 0 Form 6765 0 Form 8586 . 4.
f Credit for prior year minimum tax (attach Form 8801) 4f
5 Total-Add lines 4a Ihrough 4f
6 Une 3 less line 5 . , . . .
7 Personal holding company tax (attach Schedule PH (Form 1120)) .
8 Recapture taxes. Check iffrom: 0 Form 4255 0 Form 8611.
9a Alternative minimum tax (attach Form 4626). See Instructions . . . .
b Environmental tax (attach Form 4626) . . 'G(2)[?1j7.
10 Total tax-Add lines 6throu h 9b. Enter here and on line 31, a e 1 . .
Addltlonallnlormatlon (See General Instruction F.) Yes No
H Refer 10 the list in the Inslructlons and state the principal: ~
(1) Business activity code no. ~ _ _ _ __ ~?_9_5_ __ _ _ _.. ... f!},
(2) Business activity ~ ~~!-.a_i.l. _ ~~! ~~_ _ _ _ _......_
(3) Product orservice~ tlJl.s.i..c;1JL ipp.t..... ~_ ~JlP.P.l.i
(1) Did Ihe cerporation althe end of the tn year own, diredly or Ii
Indirecliy, 50% or more 01 the votina stock of a domestic w,%
corporalion? (For rules of attribulion, see section 261(c).). .
Ii "Yes," aliach a schedule showina: (a) name, address, and
idenlifyina number; (b) percenlaae owned; and (c) Imble
Income er (loss) belore NOl and spe<ial deducliens 01 such
cerporation for Ihe 131 year endine with or within your tn
year.
(2) Did any Individual, partnership, cerporation, ellale, or Irusl al
the end of Ihe 131 year own, direcliy or indirecliy, 50% er more
ollhe cerporation's votine stock? (For rules of aliribulien, Set
section 267(c).) Ii "Yes," complete (a) Ihroueh (c) . . . .
(a) Attach a schedule shewine name, address, and idenlilyine
number.
(b) Enler percenlaee owned ~ _ __ _ __ . __ _. _ ... ...
(c) Was the owner of such voline stock a foreian person? (See
Inslruclions.) Nole: /I 'Yes, 'th. corporation may ha..lo
fill Form 5472. . . . . . . . . . . .
If "Yes," enter owner's ceunlry ~ . _ _ _ . . _ _ . . . . . .
J Was the corporatien a U.S. shareholder 01 any conlrolled fereian
corporation! (See stctiens 951 and 957.). . . . . . . .
If "Yes," attach Form 5471 fer each such cerporation.
-0-
6 3,533
7 -0-
8 -0-
9a -D-
.'
9b -O-
lD
AI any time durine Ihe 131 year, did Ihe cerporation have an Interesl
in or a siena lure or other aulherity ever a financial aceeunlln a
forelen counlry (such as a bank accounl, securities account, or
other financial aceeunt)!' . . . , . . . . . . .
(See Cenlllllnslruct~n F and filina requiremenls for form TO F 90.22.1.)
If "Yel," enler name of fortien ceunlry ~... _ . _ _ . . . . . . . .
Was Ihe corporation the eranlor of, or Iransfer~r to, a foreien trust
Ihal ulsl.d durlne the cumnl tu yoar, whether or not Ihe
corporation has any beneficial inleresl in il!. . . . . . .
If "Yes," thecerporalion may have to file forms 3520, 3520.A, or 926.
Durine this tn year, did Ihe corpora lion pay dividends (01 her than
stock dividends and dislribulions in mhanee for stock) in mess 01
Ihe corporation's current and aceumulal.d earnlnes and prolils?
(See seclions30t and 316.). . . . . . . . . . ,
If "Yes," file form 5452. If Ihlsls a consolidated return, answer
. hOle for pmnl corporalion and on form 851, Affiliations Schedule,
formhsubsidiary.
Durine Ihis tn yoar, did Ihe cerporation main lain any part of lis
accountin<n recerds on a compulerized syslem7. . . . .
Check melhod of acceunlina:
(1)0 Cash
(2) []I Accrual
(3) 0 Olher (specify) ~ _ __ . . .. _ . _ . . . .. . . . . . . -
Check this bos illhe corpollllon Issued publicly eilered debt 0
Instrumenls with or1alnellssue discount. . . . . .
If so,the cerporalion may have to liIe ferm 8281.
Enler thl amounl 01 tas.mmptlnleresl receivod er mruod durlna
the las year ~ 1$ None I I
REnier the number el shareholders atlhe end olthe tn year IIlhere
were 35 er fewer sha..helders ~ 3
P.a.3
),533
PIRt 4
Form ~ 120(1990)
Balance Sheets Drglnnmll 01 ''''. )'t""
Anels (I) (0) (el
1 Cash . . . . . . . . . . 47,445 rftf):z.i!.@tZ;'f;f/i/JX'IJIz{1
2a Trade notes and accounts receivable. .. 117, 069 7gl;;;~;';i'WJ$'%;.nifi!'%f21) 107,016
b LessaJlowance forbad debts . . . . . ( -0-) 117,069 ( -0-)
3 Inventories. . . . . . . . . . . Wffj(@,10'~I'I' :. 548,351 Jff>>y,I~II~;~ I
4 U.S. government obJlgations . . . . . ~iflllll~IJ~ _10/,11%1. I~
5 Tax.exempt securities (see Instructions) . ,~ .'dl_ "fll~ % ~
~ ~~:~~~~~t:~~~~~~~~~~tt~Ch.SC~ed.ule~ :pr:" ~jl~I~II'rJ'llAllltl 12,984 Itll~IIt%11
8 Mortgage and real estate loans. . . . . 'JI'I~IX/flll.&:ji%j r"lta 1.1
9 Other investments (attach schedule) . ~f"'@F:M%I ..~ *
lOa Buildings and other depreciable assets 56 , 522 f,W,I'J0', 0W'ffJfA WJ'ryJ 56 , 522
b Less accumulated depreciation 33,561) 22,961 ( 34,9!P.l
lla Depletableassets. . . . . * i'W,V,0%,
b Less accumulated depletion (
12 Land (net of any amortization) . tw.
13a Intangible assets (amortizable only) ,,'ii, %. ~
b Less accumulated amortization (
14 Other assets (attach schedule). . %'%'1I~:I
15 Total assets. . . . . . . . ~ ff%)Jf'%;,%
Uabllltles and Stockholders' Equity 1%
16 Accounts payable. . . . . . . . . % 1M ~
17 Mortgages, notes, bonds payable In less than 1 year fi'%
18 Other current liabilities (attach schedule). ~.@ % .
19 Loans from stockholders. . . . . . . milWl!111
20 Mortgages, notes, bonds payable In 1 year or more . I@. I
21 Other liabilities (attach schedule) . . . . '* .Wfli1 milM
22 Capital stock: a Preferred stock
b Common stock .
23 Pald.ln or capital surplus. . . .
24 Retained earnings-Appropriated (attach schedule)
25 Retained earnings-Unappropriated. . . 393, 6 1 4 41 3, 34 1
26 Lesscostoflreasurystock. . . . . . 28,621 28,621 )
27 Totalliabllitlesandstockholders'e ui . . 748,810 751,373
Reconciliation of Income per Books With Income per Return (This schedule does not have to be completed if
the total assets on line IS, column (d), of Schedule L are less than $25,000.)
1 Nellncome per books . . . . . . . 1 9 , 72 7 7 Income recorded on books this year not
2 Federal Income tax. . . . . . . . . 3,533 Included on this return (itemize):
3 Excess of capllallosses over capital gains. . a Tax.exempllnterest $... ...........
4 Income subjeclto tax not recorded on books ................... ..... ..........
this year (itemize): ....................... ..................................
[ndolt,lIYUf
(dl
30 969
w.~q /, 'qj,>)h
'Jill/ll/illl/. ;;.',,;-:1#,
107,016
579 468
12 391
27,702
262, 155
Schedule M.l
5 Expenses recorded on books this year not
deducted on this return (itemize):
a Depreciation . . . $ ..................
b Contributions carryover $
c Trmlandenlerlalnm,nt . $ :::::~:~~:::::::::
8 Oeductions on this return not charged
against book Income Ihis year (itemize):
a Depreciation . . . $ ...~?~..ooo
b Contributions carryover $...........
128
424
......................................... 9 Total oflines 7 and 8. . . . . . 128
6 Totaloflincs 1 throu h 5 . . . . . . . 10 Income(line28.pa el)-line6lessline9 . 23 556
Analysis of Unappropriated Retained EarnIngs per Books (line 25, Schedule L) (This schedule does not
have to be completed if the total assets on line IS, column (d), of Schedule L are less than $25,000.)
1 Balance at beginning of year . . . . .. 393,614 5 Distributions: a Cash .
2 Net Income per books . . . . . . . . 1 9 , 72 7 b Stock . . . . .
3 Olherlncreascs(itemize): ................. c Property . . . .
............ ............. ................ 6 Other decreases (itemize): ... .......
Schedule M.2
4 Toiai~;iincs' C2:;'iici 3000:':" :..:..:.:..:
7 Total oflines 5 and 6. . . . . .
8 Balance at end of car line 4 less line 7
form
4562
Depreciation and AmortizatIon
(Including Information on Listed Property)
~@90
OMOt~o 15450172
Ofparlmfnt ollhf Trusury
Inlfrnal Revfnul! Sfrw-Ice
... See lepar,1te Instructions.
.... AllilCh this form to your return.
Andchment
S"!1IJfnCff~o 67
ldlntlfylnl numb.'
2]-19]5767
flamf('} shown on rrlurn
Wrays Husic lIollsc Inc.
Dusmess or ICII....lly 10 ~hlch IhlS '0/01 'rlalrs
Retail sales ofmllsical instruments & supplieD
ImD Election To Expense Certain Tangible Property (Section 179) (Note: If you Ilave any "Listed Properly, " also
com lete Parf V.
1 Maximum dollar limilalion (see instructions) . 1
2 Total cost of section 179 property placed in service dUllng the lax year (see instructions) 2
3 Threshold cost of section 179 property before reduction in limitation . 3
4 Reduction in limitation-Subtract line 3 from line 2, but do not enter less than .0. 4
5 Dollar limitation for tax car-Subtract hne 4 from line I but do not enter less than .0. 5
(I) DeswptlOn of p,operty (b) Cost (t) Elected cosl
6
7 listed property-Enter amount from line 26 7
8 Total elected cost of section 179 property-Add amounts in oolumn (c), lines 6 and 7 8
9 Tentative deduction-Enter the lesser of line 5 or line 8 . 9
10 Carryover of disallowed deduction from 1989 (see Instructions). 10
11 Taxable Income limitation-Enter the lesser of taxabIE'~ i ?i~.~uctions) 11
12 Section 179 expense deduction-Add lines 9 and 10, b4LClo n~e ethlbrq than line 11 12
13 Car over of disallowed deduction to 1991-Add lines mI~re ine 1~ 13 00 ri
Note: Do not use Part /I or Part 11/ below lor automobiles, certain other vehicles, cef/ular telephones, computers, or property used lor
entertainment, recreation, or amusement (lis led property). Instead, use Part V (or listed property.
IDIII MACRS Depreciation For Assets Placed In Service ONLY During Your 1990 Tax Year (Do Not Include listed
Property)
(b) Mo. and yr,
placed
inU~lce
(I)ClanillC.tlon of property
(c) Bnis 'or depreciation
(Business use only-see
mstruCtlOns)
(e) Convention
(Il DepreCIation deduelion
14 General Depreciation System (GDS) (see instructions):
a 3.year property
b 5.year property
c 7.year property
d 10'year property
. 15.year property
20.year property
B Residential rental property
7.5yra.
27.5 yrD.
31.5yra.
31.!5 yra.
HH
HH
HH
HH
S/L
S/L
S/L
S/L
h Nonresidential real property
15 Alternative Depreciation System (ADS) (see instructions):
a Class life 0' .
b 12.year
c 40.yea r
I2IDIII Other Depreciation (Do Notlntlude listed Property)
HH
SIL
SIL
SIL
12 yrs.
40 y r s .
16 GDS and ADS deductions for assets placed in service in tax years beginning before 1990 (see
Instructions). . . 16
17 Property sub/ecllo section 168(1)(1) election (see instructions) . 17
18 ACRS and other depreciation (see instructions) 18
IiEID1!.I Summary
1,276
156
19 listed property-Enter amount from line 25
20 Total-Add deductions on line 12,Iines 14 and 151n column (g), and lines 16 through 19. Enter here
and on the appropriate lines of YOllr return. (Partnerships and S corporations-see instructions
21 For assets shown above and placed in service during the current year, enter the portion
of the basis attributable 10 section 263A costs see instructions .
For Plperwork Reducllon Act Hollce, see pale 1 of the sep.rate Instructions.
Hru
19
20 1.560
Ui'.,.
r"m 4562 (1990)
UTILITY 5C.,IEDUL.1:
'UJ~'Mm
Name \'lravs ,..1us ic House, Inc.
Add,e.. -.l2.Q ~Iilrket Street
f,cmoyne, PA 17043
Farm 1120 Schedule
Social Securlfy or
Identificotion Uo.
23-1935767
Line
Yea, 9/30/91
Form 1120, Pa"e 2. Schedul e A, Line 4b, Other Cos ts
........................................................................................................................................................
..............~~P.~J.J;::!...!!:[l.!!..J.\![l.tt]g............................................................................................
..............f.r..!'tj.,g.~!:.........................................................................................................................
............:rO.TAL..............................................................................................................................
........................................................................................................................................................
...............if;.o..j.;j.. ......... ........................... .........
.............fii';.~f2'j.. ......... .......................... ,........
..................................... ...................................
~
.............:i'i";.'iii'r .........
..........,. -..........
...................................
.......................... ........
:::::::.F~.;m....i"i'20..;...paqa..T';...Line....i'7.;.:::~~~:~~::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
::::::::::::::~~:y.~:~IL!~:~:~~:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
.............r.~.!!!:!!!.......~.?!:'.p..?!:'.!!.~.~.?!:\...~!!.~.E;,~...................:........................................................
............TOTAL.............................................................................................................................
.................................................................................,.....................................................................
......................................
.......................... ........
...................................,..
.......................... ........
............'j'~.;.l;Tl".........
............~.~r;"j'4'i' .........
............ . ...........
.......................... ........
.......................... ........
.......................... .....,..
............Tir;.'].!!'ij'.........
.......................... ........
.......................... ........
........Foriii...i..i.20.;...pa~e...i";...Line....i6.;....o.fh.er...De'i'uctICi.iis............................. ............................. .........
........ , .~ 1" . "l" :'7.................... ............................. .........
:::::::::::::E~~~~~:~9.~:~::::::::::::::::::::::::::::::::::::::::::::::\S~:G=::P::::::::::::::::::::::.
Dues
..............rii.sur.anc.e...................................................................................................................
.......................,............................................,...................................................................................
Legal and account~ng
:::::::::::::9.If.I~:;;:::~:~p.~:~~:~::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
..............~!:.g.;:~...~.!!.P.J?t~!'-!!......................................................................................................
Taxes and licenses 2,296
:::::::::::::~~~:~~~;~:~i~:~i:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: :::::::::::::::~:~:~~:~: :::::::::
Professional development, trade shows, .
............'......tra.iiel...iiii.,j'..e.iit'ert.iiIiimeii'f'.....................................................................................r;.lI!l.s..........
...;..........ii'tiii'tTe.s................................................................................................................................j'(i;..07.ij..........
........................................................................................................................................................ .................,.,...,...,..........
.......................... .........
...................................
....................Jj'l" .........
...................'Tij.ii..........
.............j"j';.:i'1i'ij. .........
......................................
8,225
............TO.;.09.4..........
:::::::::::::::~:;:p):~::::::::::
...................................
...........,.......................
.......................... ........
...................................
.......................... ........
.......................... ........
.......................... ........
.......................... ........
...................................
.......................... ........
...................................
.......................... ........
.......................... ........
..............TOTiiL.............................................................................................................................
,.......................................................................................................................................................
.............65.;..j'j'~. .........
...................................
.......................... ........
::::::::rcirm...j.T2.ii.;....pa.cc...4.;....schciilil."...'L.;...'Li'ii"....i'ii.;....O.fh.er...Cur.reii.f....fii.6IfIt'Ies.............
...................,..., .......Beq'i.ii..nI.ii. .........
........................................................................................................................................................ .,..... ..... ...
..... ....i"fii' ......
................ii';.43''j' .........
....................:::0.;:..........
................j.;.:j'i'ii. .........
.....................................
........l'::ii.ilIii'ij...........
...................2.25.........
..............3';.'].ij.7.........
.......................... ........
15,000
..............ii';.6.ii'ti ........
..............~.c;;!:.+.!.l.!l.~...I?\\y.+.!?1J....!;.\';?!:!l~....................................................................................
..............r.~..,...:!.!!1.~.~...!:.!!~...P.!;t.Y.!!!?~.!'-.....................................................'..............................
..............!\.C;;~.+.!!.~.cl..p..;:!?U!;...~.~.!!!:.~.I}~...J?!!.y.!!.~.~.~............................................................
Accrued state and federal taxes
........................................................................................................................................................
..............TOTAI:S...........................................................................................................................
...........................................,............................................................................................................
.............i"i';.2.7'i ......... ............i7';.'j.o.i ........
........................................................................................................................................................ ......................................
..........................
,..............................................................................,........................................................................ ......................................
..........................
.................................................................................................,........,............................................. ........,............................. ....,..................,...........
........................................................................................................................................................ ...................................... .......................... ........
........................................................................................................................................................ ...................................... ...................................
,....................................................................................................................................................... ...................................... ..........................,........
........................................................................................................................................................ .........................'............ ...................................
".................,.............................................................................................................,...................... ............................,.,......, ........'.................'........
,....................................................................................................................................................... ............................,........, .......................... .........
.
,-...,
,..-..,
FSfATE OF NANA E. WRAV
WRA V'S MUSIC HOUSE, INC.
SCHEDULE C-)
DIVIDENDS PAID
NANA WILLIAM NANA
WRAV WRAV DESTEFANO TOTAL
September 30, 1991 $-0- $.(1- $-0- $.(1-
September 30, 1992 .(I- -0- .(I- .(I-
September 30, 1993 .(I- -0- -0- .(I-
September 30, 1994 -0- .(I- -0- .(I-
September 30, 1995 .(1- -0- -0- .(I-
March 31, 1996 -0- .(1- -0- .(I-
$-0- $-0- $.(1- $.(1-
~
...-.
F.srATE OF NANA E. WRA Y
WRA V'S MUSIC HOUSE, INC.
SCHEDULE C-I
SALARIF.s AND BONUSK')
NANA WILLIAM NANA
WRAY WRAY DESTEFANO
SECrrREAS PRESIDENT VICE-PRES :m.
Scolcmhcr 30. 1991
Salary $4,800 $38,750 $25,000 $68,550
Bonus -0- -0- -0- -0-
Scotcmhcr 30. 1992
Salary 4,800 46,650 26,600 78,050
Bonus -0- -0- -0- -0-
Seolcmhcr 30. 1993
Salary 4,400 35,100 15,600 55,100
Bonus -0- -0- -0- -0-
Scolcmhcr 30. 1994
Salary 5,400 23,625 16,200 45,225
Bonus -0- -0- -0- -0-
Scolemhcr 30. 1995
Salary 5,200 14,550 15,600 35,350
Bonus -0- -0- -0- .o-
March 31.1996
Salary 2,600 7,800 7,800 18,200
Bonus -0- -0- -0- .o-
$27,200 $166,475 $106,800 $300,475
,-....
"'""
.
F-STATE OF NANA E. WRAY
WRAY'S MUSIC HOUSE, INC.
SCHEDULE C-!
OTHER BENEFITS
ALL OUAUFlED EMPJ.OYEES
MEDICAL
PROFIT HEALTH REIMBURSEMENT
SHARING INSURANCE PLAN TOTAL
September 30, 1991 $15,000 $3,878 $8,621 $27,408
September 30, 1992 17,000 6,107 6,352 29,459
September 30, 1993 -0- 9,519 832 10,351
September 30, 1994 -0- 11,586 371 11,957
September 30, 1995 -0- 16,391 -0- 16,391
March 31, 1996 -0- 9,715 -0. 9,715
$32,000 $57,105 $16,176 $105,281
t..~'4.\
~..... .
-
COMMONW(AlI" a. 'INNIYlVANIA
INHUUANCI rAltUUI,.,.
InIDIN' oIClD(NI
~ SCHEDULE C.2
PARTNERSHIP
INTEREST REPORT
--
ESTATE OF
PI.o.. Type or Prinr
The following information must be submitted with this schedule,
WRAY, NANA E.
FIll NUM6ER
21-96-0549
A. Derailed description showing the method of computation utilized In the valuation of the deceden". infere.,.
8. Camplolo capil' of linonciol,totlmont. or complolO copi.. of fho Foderal T ox Rolurn. (Form 1065) for Iho y"or 01 dooth ond
.4 preceding years, including a balonce sheet for the year of death. ..
C. II fho Company ownod Rool E.tolo, lurni.h 0 Ii.t .howing ,ho comploto odd"u/.. and ..timalod Fair Markot Voluol.. If Rool
Ellar. Appraisals have been secured, pleo'l auach copiel.
D. Any other information relative to the valuation of tha deceden.', inter,,'.
1. Nomo of Partnorship Wrays Nusic lIouse Partnership
Add"..
370 Narket Street
Foderoll. D. Number 23-1733868
(A. per Form 1065)
Doto 8u.ino.. Commlncod January 1. 1971
Lcmoyne. PA 17043
Business Ac1ivity Rentals
2. Decedent was a IXIGenerol Dlimjl.d partner. If decedent was a limiled portner, provide initial investment S
3. 'ARTNER'S NAMIS ... OF INCOME ... OF OWNERSHIP SALARY BALANCE OF
CA,,, Al ACCOUNT
A. Nana E, Wray 42.8571% 42.85717- -0- $42.454
.. Nana W. DeStefano 28.5714i. 28,57147- -0- 28.303
c. William A, Wra t Jr. 28.5715% 28.57157- -0- 28 303
D.
4. Eslimated Value of decedent's interest: S 117,965.00
5. Wo. fho portnonhip indobfod 10 tho docodonlf Dy.. IliINo
If yes, provide amount of indebtedness 5
6. Wo. fhero lifo in.uronce poyoblo to Iho partnorship upon tho dooth of ,ho docodon'f Dy.. IXINo
II Y", Co.h Surronder Value: S Nel proceod. poyoble: S
Owner of Policy: _
7. Was there a wrillen partnership agreement in effect at the time of the decedent's death' [KJYes DNo
If Y", aUach copy of ogroomont.
8. Did Ihe parlnership hove on interest in any other partnerships or corporations' DYes lXJNo
If yes, report the necessary information on 0 separate sheet, including Schedule "C.J" or "C.2" for each interest.
9. Did Iho docodonl'. inter..t in tho porlnonhip change in tho yoor b.lo" dooth if Iho dOlo of dooth wo. on or oher 12/13/82
or if dooth occurrod prior to 12113/82 in Iho lOll Iwo yeorsf Dy.. IXINo
If Y", oxploin:
10. Wo. tho docodont "Iotod to any 01 Iho othor portnorsf ~Y.. DNa
If Y'" o.plain: Nother of other partners
11. Wa. tho portnorship dillol.od or liquidated oh.r decodonl'. doolhf DYe. fXJNo
If yes, report all the related information, including copies of the Soles Agreement and/or Seulement Sheel.
12. Wo. ,ho docodont'. parlnorship inlore.t,oldl DYe. IXINo
If yes, provide a copy of the ogreemnt of sale, ele.
,
Fonn '06511995)
~
,-.
Pogo 2
mmrJJ Cost of Goods Sold (see page 13 of the instructions)
1 Inventory at beginning of year. . . . . . . . . .
2 Purchases less cost of lIems withdrawn for personal use.
3 Cost of labor. . . . . . . . . . . . .
4 Additional section 263A costs (attach schedule) .
5 Other costs (atfach schedule)
6 Total. Add lines 1 through 5
7 Inventory at end of year. .
8 Cost of goods sold. Subtract line 7 from line 6. Enter here and on paga I, line 2
9a Check all methods used for valuing closing Inventory:
(Q 0 Cost as described In Regulations section 1.471-3
Pi) 0 Lower of cost or market as described In Regulations section 1.471-4
(IIQ 0 Other (specify method used and attach explanation)" .......................................................................
b Check this box If there was a writedown of "subnormal" goods as described In Regulations section 1.471-2(c). . . ." 0
c Check this box If the UFO Inventory method was adopted this tax year for any goods ~( checked, aftach Form 970). ... 0
d Do the rules of section 263A (for property produced or acquired for resale) apply to the partnership? . 0 Yes 0 No
B Was there any change In determining quantities, cost, or valuations between opening and closing Inventory? 0 Yes 0 No
If "Yes," attach explanation.
1
2
3
4
5
6
7
8
~
~ Other Information
1 What type of entity Is filing this return?
Check the applicable box" IKJ General partnership 0 Umited partnership 0 Umlted liability company
2 Are any partners In this partnership also partnerships? . . . . . . . . . . . . . . . . . . .
3 Is this partnership a partner In another partnership? . . . . . . . . . . . . . . . . . . . .
4 Is this partnership subject to the consolidated audit procedures of sections 6221 through 6233? If "Yes," see
Designation of Tax Matters Partner below . . . . . . . . . . . . .. ........
5 Does this partnership meet ALL THREE of the following requirements?
a The partnership's total receipts for the tax year were less than $250.000;
b The partnership's total assets at the end of the tax year were less than $600,000; AND
c Schedules K-l are filed with the return and furnished to the partners on or before the due dale (Including
extensions) for the partnership return.
If "Yes," the partnership Is not required to complete Schedules l, M-l, and M.2; lIem F on page 1 of Form 1065;
or Item J on Schedule K-l . . . . . . . . . . . . . . . . . . X
6 Does this partnership have any foreign partners? . . . . . . . . . . . . . . . . . . . . X
7 Is this partnership a publicly traded partnership as defined In section 469(k)(2)? _ . . . . . . . . X
8 Has this partnership filed, or Is it required to file, Form 8264, Application for Registration of a Tax Sheller? . X
9 At any time during calendar year 1995, did the partnership have an Interest In or a signature or other authority
over a financial account In a foreign country (such as a bank account, securities account, or other financial
account)? (See page 14 of the Instructions for exceptions and filing requirements for Form TO F 90-22.1.) If
.Yes," enter the name of the foreign country. .. ........................................................................ X
10 Was the partnership the grantor of, or transferor to, a foreign trust that existed during the cUrTenttax year,
whether or not the partnership or any partner has any beneficial Interest In It? If .Yes," you may have to file
Forms 3520, 3520-A, or 926 . . . . . . . . . . . . . . . . . . . . . . . . . . . . X
11 Was there a distribution of property or a transfer (e.g., by sale or death) of a partnership Interest during the tax
year? If .Yes," you may elect to adjust the basis of the partnership's assets under section 754 by attaching the
statement described under Elections Made By the Partnership on a e 5 of the Instructions. . . X
Designation of Tax Matters Partner (see page 14 of the Instructions)
Enter below the general partner designated as the tax matters partner (TMP) for the tax year of this retum:
Name of ...
designated TMR ,.
Address of ...
designated TMP ,.
Identifying ...
number of TMP ,.
Partners' Shares of Income Credits Deductions etc.
(a DlstribuUve share noms
1 Ordinary Incomo (loss) 'rom trade or bu~ines~ octivities (pogo 1, lina 22)
2 Notlncomo ~oss) Irom rental real o~tato activitios (attach Form 8825) .
3a Gross Incomo from other rontal activltlos. . . . . . ., 30
b Expensos Irom othor rental activities (attach schedule). . ., 3b
o Net Income (loss) from other rental activities. Subtract Iino 3b from lino 30
4 Portfolio Incomo ~oss): 0 Intorest Incomo .
b Dividend Income. . . . . . . . . . . . . . . .
o Royoltylncomo . . . . . . . . . . . . . . . .
d Net short.term capital gain ~oss) (attach Schedule 0 (Form 1065))
e Net long.term capitol gain ~oss) (attach Schedu/o 0 (Form 1065))
I Other portfolio Incomo ~oss) (attach schedulo) . . . . . .
5 Guaranteed payments to pariners . . . . . . . . . . .
6 Net gain ~oss) under section 1231 (other than due to casualty or theft) (attach Form 4797)
7 Other Income ~ossl attach schedule' . . . . .
U 6 Charilable contributions (attach schedule). . . .
.a ~ 9 Section 179 expense doductlon (attach Form 4562).
I!,g 10 Deductions related to portlolio Incomo (rtemlze) .
11 Other deductions (attach schedule). .
1i;.. ~ 123 Interest expense on Investment debts. . . .
!l! Iii.!! b (1) Investment Income Included on lines , 4b, 4
.E E c: 2 Investment ex enses Included on line a v
Form 1065 (t995)
i;-
,--
_...c
'iiEID
",wE
.....
c"
"c
~e!..
go!! E
Ee!:!
-;;...-
=..
-..
~I-
01
Gl
)(
~
C
Cl
'e
o
II.
PIO. 3
(b) Total amount
'iii
01
~
01
E
o
u
.E
66
48
01
..
'6
f
CJ
130 Low.incoma housing credit: .
(1) From partnerships to which section 42(j)(5) applies for property placod In service before 1990 .
(2) Other than en IIna 13a(l) for property placed In service before 1990 . . . . . . .
(3) From partnerships to which section 42(j)(5) applies for proporty placed In servlco ofter 19a9
(4) Other than on line 13a(3) lor property placed In service after 19a9. . . . . . . .
b Qualified rehabilitation expenditures related to rental real estate ectivities (attach Form 3468)
o Credits (other than credits shown on lines 13a and 13b) related to rental real estate activities
d Credits related to other rental activities. .
14 Other credits. . . . . . . . . .
150 Net earnings ~oss) from self.employment .
b Gross farming or fishing Income. . . .
o Gross nonfarm Income. . . . . . .
160 Depreciation adjustment on property placed In servico after 1966
b AdJusted gain or loss . . . . . . . . . . . .
o Depletion (other than 011 and gas) . . . . . . . . . .
d (1) Gross Income from oil, gas. and geothermal properties . .
(2) Deductions ollocable to oil, gas, and geothermal properties .
e Other od ustments and tax reference Items (attach schedulo) .
170 Type of Incomo ~ ................. b Foreign country or U.S. possession ~ ................
o Total gross Income from sources outside the Unitod Slates (ottoch schedule)
d Total opplicable deductions and losses (attach schedule) .
e Total fo;elgn taxes (check one): ~ 0 Paid 0 Accruod
I Reduction In taxes avallabla lor credit (attach schedule) .
9 Other forel n tax Inlormation attach schedule) . . . .
16 Section 59(e)(2) expandltures: 0 Typo ~ .......................................... b Amount ~
19 Tax.exomptlnterest Income
20 Other taX.axemptlncome. . . . . . . . . .
21 Nondeductible expenses . . . . . . . . . .
22 Distributions of money (cash and marketabla securitios)
23 Distributions of property other than money . . . . . . . .
24 Other Items and amounts requirod to be re rtod se aratel to artners (attach schedule
2S0 Income ~oss). Combine lines 1 through 7 In column (b). From tho result, subtmct the sum of
lines 8 through 120. 170, and lab ................
b Analysis by typo (0) Corpomto (b) Individuat (e) partnorshlp
01 pariner. I. Activo II. Possivo
(1) General partners 15,548
(2) Umitcd partners
(0) NomlnoelOther
170
17d
17e
171
179
18b
19
20
21
22
23
..
Gl
8
01
~
..
~
SCHEDULE K~1 Partner's Sh.. of Income, Credits, Deduct .s, etc. OMB No. 1545-0099
(Form 1065) ~ s.. ..poroto Instruction.. ~@95
Department ollhe T'.&1I.rf
If'llllff'tal n....~ s-w. For ellandar YII' 1995 or tal yea, beginning . 1095, and ending .10
Portner's Identifying number .. 526-18-5669 Partnorshlp's Idontlfylng numbor ~ 23: 1733868
Partnor's namo, address, and ZIP code Partnership's namo, address, and ZIP codo
Nana E. Wray Wray I II MUllie 1I0llUe Partnership
421 Allendole Way 370 Market Street
Camp 11111, PA 17011 Lemayne. I'A 17043
A This part nor is 0 !Xl general portner 0 limited portner
o limited liability company member
B Wh I . ? ~ Individual
at type 0 enlity Is this partner ......................
C Is this portner a !Xl domestic or 0 0 foreign partner?
O E I (I) Beloto change {lQ End 01
oter partner 5 percentage of: OIlemunahon Sur
Profit sharing. . . ......... %42...!!..?1 %
Loss shoring . . . ......... %42.,!!~.n %
Ownership of capital. %42.857.1 %
E IRS Center whore partnership filed return: 11 de
J Analysis of partnor's capital account:
F Partner's share of liabihhes (see inslructions):
Nonrecourso. . . . . .. $ ........::9::-.......
Qualified nonrecourse financing $ ........ ::9.7...... .
Other . . . . . . . . .. $ ....1.~.t~9.~.......
G Tax shelter registration number. .. .............Iyf:..........
H Check here if this partnorship is ~ a publicly traded
partnership as defined In section 469(k)(2). . ., 0
Check applicablo boxes: (1) o Final K-1 (21 o Amended K.l
(I) Capital account at (b) Capital conlnbuled ;r.D11:ii~re ~~,' Id) Wi.hdra","" ond II) CajJllal account al end 01
bOglnnm9 0' year dunng year '. eo ~0J12 :''\..11'" dlslnbut.ons yeal (eomblne columns (a)
t/vough (dll
~ 1.- .., )
10) Distributive share Item ~ ~ a ~ (b) Amount Ie) 1040 fliers enter the
omount In column (b) on:
1 Ordinary incomo Voss) from trade or business activities 1 } See page. 5 and 6 of
2 Net income (loss) from rental real estate activities 2 ,6 1.1.6 Partnet"s ImlNetlons 101
3 Net income (loss) from other rental activities. 3 Schedule K.1 (Form 1065J.
- 4 ponfolio income (loss): ~
.,
., 0 Interest 4a Sch. B. Pan I. line 1
0
...I b Dividends. 4b Sch. B. Pan II, line 5
-
G) e Royalties . 40 Sch. E. Pan I. line 4
E
0 d Net shon.term capital gain Voss) 4d Sch. D. line 5. co!. (n or (g)
u Net long.term capital gain (loss). 4e
.5 e Sch. O. lin. 13. co!. (n or Ig)
f Other portfolio income Voss) (attach schedule) 41 [nler en IPpliCJbl. line 01 yOUf rtlurn
5 Guaranteed payments to partner 5 } See page 6 of Partner',
6 Net oain (loss) under secllen 1231 (Olher than due to casually or Ihel1) 6 Jnstt\lctlons for Schedulo K.1
(Foun 106S).
7 Other income (loss) (attach schedule) . 7 Enler on apphul:lle Itneolyour rtf;,;rn
, B Charitable contributions (see Instructions) (attach schedule) . B . Sch. A, line 15 or 16
u.,
"c 9 Section 179 expense deduction. 9 } See page 7 of PD11ner's
'eo
G).- 10 Deductions related to portfolio income (attach schedule) . 10 Instrucllons for Schedule K.'
C" 11 Olher deductions (attach schedule). 11 (Foun 1065).
-
:iit;
e., 12a Interest expenso on Investment debts. 12a Form 4952, lin~ 1
- -
",., (1) Investment Income Included on lines 4a, 4b, 4c, and 4f above b(11 } See page 7 of PD11ner',
.,- b
>c: InstrueUons for Schedule K.'
.5- (2) Investment oxpenses included on Ii no 10 above b(2) (Foun 10651.
13a Low.lncome housing credit: I
(1) From section 42ij)(5) partnerships for propeny placed in
service before 1 990 0(1)
(21 Other than on line 13a(l) lor property placed in service before 1990 rl
(3) From section 42m(5) pannershlps for property placed In %, Form B586. line 5
n sorvice ofter 1 9B9 8(3)
'6 (4) Other than on line 13a(3) for property placed in service al1er 1989 0(4)
e b Qualified rehobilitation expenditures related to rental real estate
0
activitlos ~b
0 Credits (other than credits shown on lines 130 and 13b) related ~/, ) ~~"."-'.
to rental real estate activities. 13c Instruction!. lor Schedulo K.'
d Credits related to other rental activilies 13d (Foun 1065).
14 Other credits. 14
For Paperwork Reduction Act Notlco, seo InstructIons for Form 1065.
ITEM2B67(9S11)
Schedule K-l (Form 1065) 1995
--
Schedull K.ljFonn 1065) 1995
P'91 2
(e) 1 040 m.n enter the
amount In column (b) on:
Sch. SE, Section A '" 0
} Soa page 8 at Partner's
InstructIOnS lor Schedule K.1
(Fonn 1065).
(a) Dls\llbuUv. share Itsm
(b) Amount
. -
E~
"'10
""s-
G_
en...
150
15b
150
16a
16b
160
d(l)
d(2)
16.
Seo P'lgos 8 and 9 01
Partner'" Instructions
for Schodule K. t
(Fonn 1065) lII1d
Instructions for Form 6251.
Net earnings Ooss) froOl self.employment .
Gross fanning or fishing Income. . . .
Gross nonfarm Income. . . . . . .
15a
b
o
(28)
~H
".
=..
; ~
. e
Ii
~..
18a Deproclalion adjustment on property placed In service alter ,ga6
b Adjusted gain or loss . . . . . . . . . . . .
o Deplelion (other than 011 and gas) . . . . . . . . . .
d (1) Gross Income from oil, gas, and gcothermal proper1ies . .
(2) Deductions allocable to oil, gas. and geothermal proper1ies
e Other ad'ustments and tox reference Items (attach schedule)
17a Type of Income" .................................................
b Name of foreign country or U.S. possession" .................
c Total gross Income from sources outside tha United States (attach
schedule). . . . . . . . . . . . . . . .
d Total applicable deductions and losses (attach schedule).
e Total torelgn toxes (check one): .. 0 Paid 0 Accrued .
f Reduction In taxes available for credil (attach schedule) .
Other forel n tox Information attach schedule . .
Form 1116, Pari II
Form 1116, Part III
See Instructions for Fonn 1116.
} See page 9 of Partnor's
Instructions fur Schedule K.l
(Fonn 1065).
Form 1040. line 8b
) See pago 9 of Partner's
Instructions for Schedule K.'
(Fonn 1065).
III
III
l(
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} Form B6",line 8
Form 1116, check bcx..
Form 1116, Part I
..
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18
b
19
20
21
22
23
24
a
b
25
Section 59(e)(2) expenditures: a Type .. .....
Amount.......
Tox-exempt Interest Income .
Othar tax-exempt Income. .
Nondeductible expenses. .
Distributions of money (cash and markatable securities)
Distributions of property other than money
Recapture 01 low-Income housing credit:
From section 420}(5) partnerships . . .
Other than on line 24a. . . . . . .
Supplemental Informalion required to be repor1ed separately to each partner (attach additional schedules If mom space Is
needed):
..........................................................................................................................................
............................................................................................................,.............................
..........................................................................................................................................
..........................................................................................................................................
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..........................................................................................................................................
.
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SCHEDULE K.1 Partner's Sh.. J of Income, Credits, Oeduc', .15, etc.
(Fonn 1065) ~ s.. s.paratalnstructlons.
OopIl\InentQIU'W'~
antllfNl~.....nutI Servw::. For cllendl' yur 1995 or I.a yur beginning .1905, and ending .1D
Partner's Identifying number ~ 195-38-9659 Partnership's Identifying number ~ 23
Partner's name, address, and ZIP code Partnership's name, address, and ZIP code
A This partner Is a ail general partner 0 limited partner
o limited liability company member
B What type 01 entity Is this partner? ~ J.1)M.':'.~!!~.I!L...
c Is this partner a ail domestic or a 0 foreign partner?
o Enter partner's percentage of: lij e.lo'. thong. Ilij End 01 G
or I",,"nahon 28 5 '1't'4
Profit sharing. . . ......... % .:......4 % H
Loss sharing . . . ......... %28.:.5n. %
Ownership of capital . . . . ......... %2&,.~.U.~ %
E IRS Center where partnership filed return: philadelphi
J Analysis of pertner's capital account:
(I) Capital account at (b) Capital ccntnbuted
beglMing 01 year dunng year
OMU tlo. 1545.0099
~@95
1733868
Nann W. DeStefano
221 Glenside Lane
Camp lIill. PA 17011
Wray's Music !louse Partnership
370 Market Street
"emoyne. FA 17043
F Partner's share of liabilities (see instructions):
$ -0-
Nonrecourse. . . . . . . ..........0.........
Qualified nonrecourse linanclng $ ........':'..::.......
Other . . . . . . . . ., $ .....~...~.q~.......
Tax shelter registration number. .. ............~(A..........
~
Check hero II this partnership Is a publicly traded
partnership as defined In section 469(k)(2). . . .
o
Check applicable boxes: (1) 0 Final K.l (2) 0 Amended K-l
Wilhdrawals and
distnbuUons
(e) Capital accounl OIl end 01
year (combine columns (a)
through (dl)
(a) Distributive share Item
(b) Amount
(c) 1040 lIIers enter the
amount In column (b) on:
} See pages 5 and 6 of
PilItner's InstNcUons 10(
SChedule K.l (Form 1065).
Iii
en
o
..J
-
CD
E
o
U
.5
1 Ordinary income ~oss) from trade or business activities
2 Net income ~oss) from rental real estate activities
3 Net Income (loss) from other rental activilles .
4 Portfolio income (loss):
8 Interest
b Dividends. . . . .
c Royalties. . . . .
d Net short-tenn capital gain ~oss)
e Net long.tenn capital gain ~oss).
f Other portfolio income ~oss) (attach schedule!
5 Guaranteed payments to partner . . . .
6 Net gain (loss) under section 1231 (Olher than due to casuallY or \helt)
7 Other income ~oss) (attach schedule). . . . . . . .
8 Charitable contributions (see instructions) (attach schedule! .
9 Section 179 expense deduction. . . . . . . . .
10 Deductions related to portfolio income (attach schedule! .
11 Other deductions (attach schedule!. . . . . .
1
2
3
.4 442
Sch. 8. Pari I, line 1
Sch. B, Pari II, I;n. 5
Sch. E. Part I, line 4
Sch. D, line 5. col. (ij or (g)
Sch. D. Une 13, cot. (ij or (9)
Enler on applablt line olyourftlUrn
}see page 6 of Partner's
Inslrue1Jons for Schedule K.1
(Form 1065).
EnttIOnallllhc.atlltbneol)'oufltlufn
4a
4b
4c
4d
4a
41
5
6
7
B
9
10
11
Sch, A, line 15 or 16
} SefI page 7 01 Partner's
Instructions for Schedule K.'
(Form 1065).
,
Uen
='C
'Co
....
Q
-
c_
....
S I!! 12a Interest expense on Investment debts. . . . . . . . .
....
~ i: b (1) Investmenllncomelncluded on lines 4a, 4b, 4c, and 41 above
c - (2) Investment expenses Included on line 10 above . . . .
133 Low-Income housing credit:
(1) From section 420)(5) partnerships lor property placed In
service before 1990 . . . . . . . . . . . . . .
(2) Other than on line 13a(l) for property placed in service before 1990
(3) From section 420)(5) partnerships for property placed In
service alter 1989 . . . . . . . . . . . . . . .
(4) Other than on line 13a(3) for property placed in service alter 1989
b Oualified rehabilitation expenditures related to rental real estate
activities . . . . . . . . . . . . . . . . . .
c Credits (other than credits shown on lines 13a and 13b) related
to rental real estate activllles. . . .
d Credits related 10 other rental activities . . . . . .
14 Other credits. . . . . . . . . . . . . . .
For Paperwork Reduction Act Notice, seG Instructions for Form 1065.
Ferm 4952. Une 1
} See page 7 of Partner's
Instruetions lor Schedule K.'
IForm 1065).
Fe"" 8586, line 5
J1
'6
e
o
1 See p.:og. e 01 Par1ne".
InstructIons fOl Schodulo K.1
IFcnn 1065).
Schedule K.l (Fonn 1065)1995
ITEM2867(9511)
--,
Pooe 2
(c) 1040 men enle, the
amounlln column (b) on:
Sch. 5E, Soc1IOf1 A or D
} See pIO. R 01 rartnM'.
lnstt\ICtlons tor Schedule K.1
IFDfm 10651
Schldull K.l (Fom. 106511995
(a) DI.lrlbu\lve Ihare 111m
(b) Amounl
''Il
e.. 15a Nel eamlngs ~oss) from seU.employmont .
~ ~ b Gross farming or fishing Incomo. . . .
en Q. c Gross nonfarm Incomo. . . . . . .
(19
=
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1::
it-
-!
io!!
-E.
~
16a Depreciation adjustment on properly placed In servlco alter 1086
b Adjusted gain or loss . . . . . . . . . . . .
c Deplatlon (other than oil and gas) . . . . . . . . . .
d (1) Gross Income from oil, gas, and geolhermal propertlos . .
(2) Deducllons allocable 10 oil, gas, and geothermal proportios
e Other ad ustments and tax relerence lIems (attach schedule)
17a Type of Income" .................................................
b Name of foralgn count/)' or U.S. possession" -...............
c Total gross Income from sources outside the United slatas (aUach
schedule). . . . . . . . . . . . . . . .
d Total applicable deductions and losses (aUach schedule) .
e Total foreign laxes (check one): .. 0 Paid 0 Accrued .
f Reduction In laxes available for credit (aUach schedule)
Other forel n tax Infomatlon attach schedule)
18 secllon 50(e)(2) expenditures: a Type ~ ....... .... .
bAmounl.......
19 Tax.exemptlnteresllncome.
20 Olhar tax.exemptlncome. .
21 Nondeductible expenses. .
22 Distributions of money (cash and marl<etable securities)
23 Distributions of properly other Ihan money
24 Recapture of low. Income housing credit:
a from section 42(D(5) partnerships . . .
bOther Ihan on line 240. . . . . . .
25
See pog.. 6 llIld 0 of
PaI1n1W'S InsllUctlons
101 Schodulo K.l
(Form 10651ll1ld
Instructions IOf Fonn 6251.
..
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{1.
Form 1116, check boxes
} "~",,. ~,
Form 1116, Part II
Form 1116, Part III
See Instructlons lor Fann 1116.
} See page 9 of Partner's
Instructions for Schedule K.'
(Form 10651.
Form 1040, line 6b
1 See page 9 of Par1ner's
instructions for Schedule K.l
(Form 1065).
..
Cl
8
} Form 6611, line 6
Supplemental Information required to be reported separately to each partner (aUach additlona' schedules if more space Is
needed):
............................................................................................................................................,
.................................................................................................................................................
...........................................................................................................................................
.........................................................................................................................................'
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.
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SCHEDULE K-1 Partner's Share of Income, Credits, Deduc\lllns, etc.
(Form 1 065) ~ s.. s.parat. Ins true lions.
~tof"'TI..1lTt
~..,..... UfMIf'Il," fi....w::. For utendI( yea' 1995 or lal yen, b.glnnlng , 1095, and ending . 10
Porlnor's Idonllfylng numbor .. 175-/,0-58/,/, _ Parlnorshlp's Idonllfyl!!!! numbor ~ 23_i_ _1733868
Portnor's nomo, oddross, ond ZIP coda partnershlp's nome. address. and ZIP coc!o
Willinm A. Wrny,Jr. Wrny'u Music Houne l'nrtnenhip
. 91 Skyline Drive 370 Market Street
Mechnnicnburg. PA 17055 Lemoyne. Ph 17043
OMU No, 1~4!t.009'J
~@95
A This portner Is 0 !XI goneral partner 0 limited partner
o limit cd liability company mombor
B What type of enlity Is this portner? .. J1JM.vMl.l.'!.t...
C Is this partncr 0 !XI domestic or a 0 loreign portner?
o Enter partner's percenlage of: (I) ~~~~j;~~~~Q (10 ;fl~~ 01 G
Profit shoring. . . ......... %28.,.~.J.~ % H
Loss shoring . . . %28.,.sU~ %
Ownership 01 capitol %28.57.15 %
E IRS Center whero partnership filed return:
J Anolysls of porlnor's capital occount.
F Partner's share of liabilities (soo instructions):
Nonrecourso. . . . . ., $ ......::-.9::........
Qualified nonrecourso financing $ ....... :-.9::........
Other . . . . . . . .. $ ....~.,!i.9.L......
Tax sheller registration number. ~ ...........Nf.l~..........
Check hero if this partnorshlp is a publicly tradod
partnership as defined in section 469(k)(2). . . .
o
Check applicable boxes: (1) o Finol K-l (2) DAmended K-l
la) Capllal account 011 (b) CapItal contnbulod (e) P:nfl:~~ fr:' 'V'cfJ Withdrawals Md (I) Cap. lOll Dccount at end 01
begannlng of Ve.1r du"nQ year 3.4i 7. F dlstnbuUons year {combine columns (011
ul !. through Idll
- - (- )
(s) Dlstrtbullv. share Item (b) Amount (c) 1040 file'" enter \h.
Dmounlln column (b) on:
1 Ordinary incomo (loss) from trade or business activities 1 } s.. p.ge' 5 and 6 of
2 Net income Ooss) from rental real estate octivities 2 4 442 Partner's Instructions for
3 Net Income (loss) from other rental activities. 3 Schedule K.1 (Form 1065).
Iii 4 Portfolio income (loss): 'W'k
.. 0 Interest 40 Sch. D, Part I. line 1
0
c!. b Dividends. 4b Sch. B. Port II. tino 5
CD 0 Royalties . 4c Sch. E. Part I, line 4
E
0 d Net short. term capilal gain (loss) 4d Sch. D. line 5, co!. In or (g)
0 Net long.term capital gain (loss). 40
.5 0 Sch. D. line 13. co!. (n or 19l
f Other portfolio incomo Ooss) (attaCh schedule) 41 (nlrt Oil IPpbUb1e bne 01 ygt,lr rllum
5 Guaranteed payments to partner 5 } s.. p.go 6 01 pannor',
~n5lruCtlonS for Schedulo K.l
6 Net gain (Igss) under seclion 1231 (other Ihan due 10 casually or theft) 6 (Fonn 1065).
7 Olher Income (loss) (atlach schedule) . 7 EntrronIPpllclblrbn.olyou"llUIn
, 6 Charitable contributions (see Instructions) (attach schedule) . 8 Sch. A,line 15 or 16
0..
:Ie g Section 179 expense deduction. g } s.. p.go 7 of PannM'1
'eo
1IJ.- 10 Deductions related to portfolio income (attach schedule) . 10 Inslructlons for Schedulo K.'
C" 11 Other deductions (attach schedule). 11 (Fonn 1065).
'E
..-
e::: 124 Interost expense on invostment debts. 124 Form 4952, hne 1
'Iii:;;
.,- b (1) Investment incomo Included on Ii nos 4a. 4b. 4c. and 4f above b(l) } S.. p.go 7 01 Pannor',
>c Inslruetlons lor ScMdule K.l
S- /2) Investmont oxpenses Included on line 10 above . . . . b(2) IFonn 1065).
130 Low.income housing credit:
(1) From soctlon 420)(5) partnerships for property placed in Wii
service boloro 1990 0(1)
(2) Olher lhan on line 13a(l) lor property placed in service before 1990 0(2)
(3) From section 420)(5) partnerships for property placed In ~!!fa Form 8586. line 5
~ servico orier 1989 0(3)
'6 (4) Other Ihan on line 13a(3) for property placed In service after 1989 0(4)
e b Quatifiod rehabilitation oxpenditures rolatod to rental real estate
U
octivitios 13b i
0 Credits (other than credits shown on lines 13a and 13b) related !!fa l~..'.'-'
to rontal reol estato activities. 130 InstruC1tons '01 Schedule K.1
d Credits related to other rental activities 13d (Fcxm 1065).
14 Other credits. 14
For Paperwork Reduction Act Notice, see InstnJctlons for Form 1065.
tT[lJ:etl719!t11)
Schedule K.l (Form 1065) 1995
_.10 K.l (Fonn 10051 1995
(b) Amount
Pogo 2
Icl1040 lIIon enler tho
omountln column (b) on:
Sch. SE. Soc1lon A Of 0
} See pag" 8 01 PlV1nor'.
In,tructlOns lor Schodule K.'
(rOfm 10651
(0) DlltI1buUvo Iharo Itom
& 1! 160 Nel eomlngs ~oss) from sel'.employmont.
~' ~ b
G' Gross farming or fishing Income. . . .
en 'ii. c Gross nonfarm Incomo. . . . . . .
M
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(19)
160 Deproclation adJustmenl on properly plocod In sorvico niter 1988
b Adjustod gain or loss . . . . . . . . . . . .
c Deplotlon (other than 011 and gos) . . . . . . . . . .
d (1) Gross Income from oil, gas, and goothermal properties . .
(2) Deductions allocable 10 oil, gas, and geothermal properties
. Other ad ustments and tax reference Items (attacl. schedule
170 Type of Incomo" .................................................
b Name or foreign country or U.S. possession" .................
c Total gross Income from sources outside the United States (attach
schedule). . . . . . . . . . . . . . . .
d Tolal eppllcable deductions and losses (ettach schedule) .
. Total foreign taxes (check one): .. 0 Paid 0 Accruod .
f Reduction In taxes available for credit (altac ched
Other forol n tox Information attach schedu ). .'. .
16 Section 59(e)(2) expenditures: 8 Type ~ .........................
bAmount.......
19 Tox-exemptlnterest Income.
20 Other tax-exempt Income. .
21 Nondeductible expenses. .
22 Distributions of money (ClISh and marketable securities)
23 Distributions of property other than money
24 Recapture of low-Income housing credit:
8 From sectian 420)(5) partnerships . . .
b Olherthan on line 240. . . . . . .
25 Supplemental Information required to be reported separately to each partner (attach additional schedules If more space Is
needed):
See ~Q~ 8 Md 9 01
Partner', Instruchons
'01 Gc.hodule K.'
(Form 1(05) and
InstructIOns lot' Form 6251.
Form 1116, check boxes
Form 1116. Part I
Form 1116, Pari II
Form 1116, Pari III
See InslrJCtions for Fann 1116.
} See page 9 01 Partner's
Instructions fot Schedule K.1
IFonn 1065).
Form 1040. lino 6b
] See page 9 01 P4I1ner',
InstruclIons lor SChedule )(.,
IFonn 10651.
18b
19
20
21
22
23
} Form 6611, lino 6
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f
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'onn 8825 .
Rental ~al Estate Income and Expenses of a
utnershlp or an 5 corporat'-
~ Sea Instuctlonl on beck.
~ Atlnch to Form 1065 or Form 1120S.
OMU No, 1545.11B6
~@95
OtC.""","1 of In. ".&llI'"
~1.".,.1 ~..~. SeNe.
Nlmo
Wray's Music 1l0USl! Pnrtnl!rship
1 Show the kind and locallon of each property. See page 2 lor additional properties.
Comml!rcial rental
A "j 70" H~'~k~' t" S i:'~~~' t .;. 'i:~;';;;";;;~';" p';,:' i.704.)..................................................................................
Employer Id.nuncaUcn number
23: 1733868
B ................................................................................................................................................
c ................................................................................................................................................
o ................................................................................................................................................
~
Proportles
Rental Real Estate Income A B C 0
2 Gross rents . , . 2 39.077
Rental Real Estate Expenses rJ ~ ~:)V
.
3 Advertising . . 3
4 Auto and travel. 4 -- ~ ..
.
5 Cleaning and maintenance. . 5
6 Commissions . 6
7 Insurance 7 759
.
8 Legal and other professional fees. 8 990
9 Interest , 9 3.867
.
10 Repairs 10 2.737
11 Taxes . 11 2.502 I
.
12 Utilities . 12 9,621
13 Wages and salaries . 13
14 Depreciation (see instructions). 14 2,805
15 Other (list) .. ....................
. .9.~ f.!~!'. ..l!!!l'E},~."!!.... ..... 248
15
....................................
.
16 Total expenses for each property.
Add lines 3 through 15 16 23,529
17 Total gross rents. Add gross rents from line 2, columns A through H . . . 17 39,077
18 Total expenses. Add total expenses 'rom line 16, columns A through H . . . . 18 ( 23,529 I
19 Net gain (loss) from Form 4797, Part 11, line 20, from the disposition of property from rental real
estate activities , . . . . . 19
20a Net Income (loss) from rental real estate activities from partnerships, estates, and trusts In which
this partnership or S corporallon is a partner or beneficiary (from Schedule K-l) . 20a
b Identify below the partnerships, estates. or trusts from which net Income (loss) Is shown on line 20a.
Attach a schedule If more space Is needed: I
,
(1) Name (2) Employer Identification number I
.................................................. ...................................................
.................................................. .................................................. I
....i............................................. ..................................................
21 Net Income ~oss) from rental real estate activities. Combine lines 17 through 20a. Enter result
here and on Schedule K. line 2 21 15.548
For Peperwork Reduction Act Notice, ... back at form.
Ca.. No. 10136Z
Form 8825 (1995.
"''''5 page 753,21 E
~l olN TrMIYl'Y AU,lc:.hlflonl
k'IllfNI R.....nue s.w:a (99) ... See separate Inltructlon.. ... Altnch thl, ronn 10 our r.lul1l. !tnquMCft"O 67
Name(sl shown on relurn nUSII'"" III Act"-Ily 10 Yw1\ldllhl'l lnnlll.la'.., IdaflUlylng number
Wrays Music House Partnership All bnulncuu nctlvltlcu 23-1733868
Election To Expense Certain Tanglblo Proporty (Soctlon 170) (Noto: If YOlllwvtl any "Lis/ed Properly."
comp/efa Part V before you camp/lito Part IJ ___._________ __ ________ ____
1 Maximum dollar limitation. II an onterpriso 10nO bu,lrulO'. '00 JHlnO 1 of Ihll 'u,trncllon, .
2 Total cost of section 179 proporty placod In nervlco llurtnn Iho tnx Y"lU. Soo pan" 2 01 tho
Instructions . . . . . . . . . , . . . . . . . . . . . .
3 Threshold cost of section 179 proporty boforo rodUl:II1111 111 IIIIlItlltlun, . , . . . . .
4 Reduction In limitation. Subtract lino 3 lrom IInll 2. 1111110 or III"., lint", .0. . . . . .
5 Dollar limitation for tax year. Subtrnct linn 4 from linll \. 1I1llln or III"', .111111I .0.. IIl11arrlod
filing separately. seo pago 2 of tho Instructlotm~~.__: . _ _m_.'~__.__~_.:_
(I) DDSCnplion 01 proptwty (hI Cu'l
'.
........,
Form 4562
D",,,reclatlon and Amortization
(IncludIng Information on Usted Proporty)
leI tloclod eost
6
OMIJ t40 IM~0I72
~@95
1
$17,500
2
3
4
$200 000
~
5
7 Usted property. Enter omount lrom linn 27. . . .. -.---'---.--.--ri-
6 Total elected cost of soction 179 proporty. Add ng' "Ja-fi)~nOZ6 ond 7 :~. .
9 Tentative deduction. Enter tho smnller of lino 5 r lilll; ,...,.., .If.......
10 Canyover of disallowed deducllon from 190'\' I' ,I "IOtruCt n,. . . . . .
11 Taxable income limitation. Enter tha smaller of l/lXnhlolllcOIllO (not 0" Ihall10lo) or Iino 5 (see Instructions)
12 Section 179 expenso deduction. Add 11110. 0 ond 10, bul do not onter maIO then IIno 11 . .
13 Canyoverof disallowed deduction to 1996. Add line. 9 and 10.10..1100 12 ~ 13
Note: Do not use Part /I or Part 111 below for IIsteel proporty (automobiles, certain other vehicles, cellular telephones.
certain computers, or property used (or ontertolnment, rocroollon. or amusement). Ins/ead, use Part V (or listed property.
1m] MACRS Depreciation For A6sets Placod In Service ONLY During Your 1995 Tax Year (Do Not Include
Listed Property.)
Section A-Gonerol Assot Account Election
14 If you are makln9 the election undor soctlon 166(1)(4) to group any ossols placed In selVico dunng the tax year Into one or more
6neral asset accounts, check this box. See 0 0 2 of the Instructions. . . . . . . . . .. 0
(b) Montn and Ie) OA"S 'Of dOpt'l'IClAlJon (d) Recov8fY
(I) Cl.usd'icatlon or property yeA/' pL\ced In (bu,lf\OUI\nveslmenl use penod
18MC8 on 1M lnstrucllons
Soctlon B-Genoml Doproclotlon Syatom (GDS) (See page 2 of the Instructions.)
MM S/L
MM SIL
MM SIL
MM S/L
Section c-Altornotlvo 00- roclotlon Systom (ADS) (Seo pago 4 of the Instructions.)
16: ~~~~:~~e _ _____ .EY.rn. ~~~
c 40-year MM S IL
Other De reclatlon (Do Notlncludo Lletod Propo . See a c 4 of the Instructions.
GDS end ADS daductions lor o!Sots placad in selVlco in I/IX yea" bcQinning bololO 1995 . 17
Property subJoct to IlOCtlon 166(nll) eloctloll. , . . 18
ACRS ond othor do roclntlon, . . . . . . . . . . . . . . . . . 19
Summa (Soc r-"O!l_ 4 of tho 1r19lrllCtl~~
Ustod proporty. Entor omoullt frum IIno 20. . . . . . . . . . . . . . . . .. 20
Total. Add'deductlons onlinot2, IInos 15 nnd 10 In column (0), and lines 17 through 20. Enter here
and on ths opproprlnlo Iino. 01 your rolum, PrulnOlnhlps and S corporations-see Instruc1lons .
22 For ossels shown nhovollnd placod In 6lIIVico during tho current year, enter
the ortlon of tho hasl. IItlnhutnhlo 10 noetlon 203A cosls . . . . .
For Pap.rworit "eduction Acl Nolle" ,.. 1)IUe t or the IDparnte InstructJonl.
3- ear property
5-year property
c 7 -year property
d 10-year property
e l5.year property
f 20.year property
9 Residential rental
ro e
h Nonresidential real
roe
15a
b
6 1/95
13 ,193
27.5 rn.
27,5yrn.
]9 rn.
20
21
22
ITEM 28981i5101
8
9
10
11
12
183
647
1,975
21
Form 4562 (1995)
.~: 1065
OIpartnw.: of IN Trwuuy
.....'NIl n.wnua s.-.;o.
For_\'Ml'lllll4,orl&ll\'Ml'boglnnlng ........ ,1W4,lndondl"ll ........,10.... ~
~ See 1\8 rote InslJuclJon..
U.S. ~~'tnershlp Return of Income' --
.' f
'.', ,\. .; ;'.//
. i OMB ~Q. l!l45-llO9O I (
". :~@g4 J
u.. the
IRS
label.
0lIle<-
wi..,
pl.....
print
or type.
**** CAR-RT SORT ** C002
JP 23-17338b8 DEC94 S28 L
WM A & NANA WRAY ETAL PTR
WRAYS MUSIC HOUSE
370 MARKET ST
LEMOYNE PA 17043-1b32
002
o Empl",r Illltlftcallol nlmblr
23 : 1733868
E Dale buslness lWted
A Prtnclpal busI..... IlCIMly
Rental
B Pl'rdpaI proa.c:t ot _
Rental
C Buslness code number
6511
N-....~Io.,
o Check applicable boxes: (1) 0 InlUaJ return (2) 0 Anal reium (3) 0 Change In addross (4) 0 Amended return
H Check accounting method: (1) 0 Cash . (2) IXI Accrual (3) 0 Other (specllY) ~ .--....-......-..--..--..-..........
I Number of Schedules K-l. Attach on. for oach person who was a partner at any time during th.t.. year ~ _.._..._~..........~........_..........
Caution: Include only trade or business Income and expenses on IinoS 1 B through 22 ~'ow. See tho Instructions (or more InfolT/llltion.
. .
1aGrossrecelptsorsaJes ....<.." .": . .'. .'. . '. . '.
b Less returns and allowances. . . '. . . :'. . . . .' .. ..
1a
1b
., '.
10
;". .
,. 2
. .
. . 3
'. '. 4
5
8
7
8
'-..
II
E
8
.5
." '. . .'
.' ~:..' "... . ." ~, . . , .... . '. .'-
2 Cost of goods sold (Schedule A. lin~. 'C' . '8' y. . . . . . ::
3 Gross profit Subtract line 2 from lin 1c.'. . -. . . .', . . .'. . . . .
4 Ordinary IncOme Qoss) from other p hip, at, and ts (attach schedule).
5 N6t fann profit Qoss) (attach Schedule F (Form 1040)} ..' . .
8 Net gain Qoss) from Form 4797, part II, line 20. ,... . .
.' \, ." ". . .... .' . . .
. 7 Other Inccime QoSS) (see InstrUCtions) (attach schedule) .
8 Totallncomll OSS. Combln~ lines 3 throu h 7
-I 9 Salaries and wages (other than to partners) Qess employment credits) .
10 'Guaranteed payments to partners . ....
11 Repairs and malnt6nance. ".' . . . ,
l! 12 Bad debts. .. . .
113 Rent.'; ,.~. '. "::'. : .
14 Taxes and licenses. , . . .
15 Interest. ~:.. .. .. .... .'.
II 188 Depreciation (see Instructions) .
.! b Less dapreclatlon reported on Schedule A and elsewhere on return
g 17 Depletion (Do not deduct 011 ond gBs depletion.)
;! 18 R6tirom6nt plans, etc. . ", .::' '.' .'. .
:s 19 Employee ben6fit programs :. ;. .' .
!
". .... .', '.'~.' . 1-.;""'. .
"
. "';-- .
,.. .
.. .
.
'.
188
18b
.' .
"
20 Other deductions (attach schedule) . .
20
'.. .
21 Total deductions. Add the amounts shown In the far ri ht column for lines 9 throu h 20 21
.' .
22 Ordlnsry Income (loss) from trade or business ectlvltles. Subtract line 21 from line 8 22
Under penalties of porluy,l_ that t have examined this return. Including occompanylng schedules and lItatem""l3. and to !he best of my """". ,-:tge
and belief, ~ Is true. _ and completo. DocIan1Uon of propasor (oth... than gorlOf1li partnet) Is bosod on olIlnformatJon of wl11ch propasor his any
IcnowIodge. . . .." . .' .. . . .' .
Please
Sign
Here
~
~~
of gorlOf1li partner or umltod IIlblllt}' company member
. Paid =" ~ 01111/30/95
puf8l!oaf8n1r'yl Ftnn'lnamo(ot R. Wm. Wirl! Associates, P.C.
o )'OUl'II Woelf....ployod)
, and odd.... 19 S. 19th St.. Cam Hill PA
For PapllfWOr1l Reductfon Act Notice, .... page 1 of I\8parala Ins1nJclJons.
ChockW
oeIf....p!oyod ~ 0
E.1.No. ~
21Pcodo~
Cat No. 11390Z
Proponw'olOClallOCUltly no.
178! 3'8! 0954
23 I 20
1 1
Form 1065 (1994)
Fonn 1006 (1994) Pao. 2
~ Coot of Ooodo Sold
1 Inventory at beginning of yont, .
2 Purchasos less cost of Itom. wlllllJ,nwn lor 11IllnIJl1nlll.n.
3 .Cost of labor. . . . . . . . . . . . . .
4 Additional section 263A costs (.n" i",t,"ctilllln) (nllnd, .clllle/ulll) .
5 Other costs (attacll 5clloclul0)
6 Total. Add IInos 1 through 5 ...'. . . . . . . . .'. .
7 Invontory at ond 01 yoar. . . . . . . . . . . . . . .
8 Cost of goods sold. Subtract 1111I1 7 from IIna O. Entor hOlo nod on pogo 1. line 2
90 Check oM methods usod for valuing closlno Invontory:
(1) 0 Cost
Pi) 0 Lowor 01 cost or ma,kot as doscrlbod In RlllJulatlons OOctlon 1.471-4
pit) 0 Wrltodown of "subnonnal" goods as doscrlbod In RlllJulatlons soc1lon 1.471-2(c)
pv) 0 Othor (specify mothod Ilsod and attach ox planation) ~ .........................:..........................................:...
Ii Check this box If tho UFO Invontory mothod Wll5 adoptod this tox year for any goods (If checi<ed. attach Form 970). . ~ 0
c 00 tho rulos of section 263A (lor proporty producod or acqulrod for resalo) apply to the partnership? . DVes ONo
d Was thero any chango In dolor mining quanti s. cos or V I tlo between opening and closing Inventory? DVes ONo
If "Ves," attach explanation. f .
1
2
3
4
5
6
7
8
~
'.
mmrlI!l . Other Infonnatlon
\' .
1 What type of ontlty Is filing this return?
.. Check tho appllcablo box" lXI Oeneral partnership 0 Umitod partnership 0 Umltod liability company
2 Are any partners In this partnorshlp also partnorshlps? . . . . . . . , . . . . , . . . . . .
3 Is this partnership 0 partnor In anothor partnership? . . . . . . . . . . .'. '. . . . ... . .
4 Is this partnorshlp sub)oc1to the consolldatod audit procodures of soc1lons 6221 through 6233? If "Ves," see
Designation of Tax Mottera Portner bolow .' 0' . . .' . . , .. . ....... . .
".'
5 Does this partnership meet AU THREE 01 tho following requirements?
8 The partnorshlp's total rocolpts for tho tox yoar were loss than $250,000;
b The partnershlp'~ total lISsets at tho end of the tox year W6re less than $600.000; AND
c Schodules K.l .om mod with tho return and furnlshod to tho partners on or before the due date 1ncludlng
extensions) for tho partnorshlp return. '.1
If "Vos," tho partnorshlp Is not requlrod to complete Schodulosl, M-l, and M.2; Item F on page 1 of Form 1065;'
or Item J on Schodulo K.l . . . . . ..... . . . . . . . . . .
6 Does this partnorshlp havo any forolgn partners? . . . . . .. .'. . . . . . . . . . . . .
7 Is this partnorshlp 0 publicly tmdod partnarshlp lIS defined In section 469(k)(2)? .. .... . , . . . . .
8 Has this partnarshlp mod. or Is It requlrod to me, Form 8264, Application for Registration of a Tax Shelter? .
9 At any tlmo durlng cal6ndar yaar 1994. did tho partnership havo an Inlorestln or a signature or othor aut! ,ority
ovor 0 financial account In 0 foreign country (such lIS a bank account, securilles account, or othor financial
account)? (See tho Instructions for oxcaptlons and filing requirements for Form m F 90-22.1.) If "Ves," ontor tho
nomo 01 tho foralgn country. ~ ...................................................................................:.......-
10 WlIS tho partnorshlp tho grantor 01, or transferor to, a foralgn trust that oxlsted durlng tho current tax year.
whether or not tho partnership or any partner has any beneficial Interest In It? If "Vos," you may h:we to ;,10
Forms 3520, 3520-A, or 926 . . . . . . . . . . . . . . . . . . . . .' . . . . . . .
11 WlIS thora a dlstrlbutlon of proporty or a transfor (o.g., by salo or death) of a partnership Interest durlng the tax
yeor? If "Ves," you may olect to adjust tho basis of the partnershlp's assets under section 754 by attaching the
statement descrlbed undor Elections Modo By ths Portnsrahlp. . . . . . . . . . . . .
Doslgnatlon of Tax Molters Portner (See Instructions.) .
Entor below tho gonoral partnor doslgnated lIS tho tax mattors partner (TMP) for the tax Y9lll' of this r6tum:
.-
x
X
X
X
X
x
'.
Nomo of ....
doslgnated TMf' ,.
Address 01 ....
doslgnated TMP ,.
,
Identifying' ....
number of TMP ,.
Form 106511~) '.
--
Partners' Shares of Incoma. Credits Deductions. ate.
(0) DlotribuUve aha", Itema
1 Ordinrny Incomo ~oss) from trado or business actlv~les (page I, IIno 22)
2' Not Incomo ~oss) from rental real ostato octlvitlos (attach Form BB2~) . "
38 Gross Income from other rental activltlos . . . . . . . . I 38 I
b Exponsos from othor rontal actlvitlos (attach schedule) . I 3b 1
o Not Income ~oss) from other rontal actlvltlos. Subtract line 3b from IIno 3a . 3c
4 Portfolio Incomo ~oss) (seO Instructions): 0 Intarasllncome .. 4a
b Dividend Income. . . ... 4b
o Royalty Incomo. ....... ....- . . . 40
d Net short.term cap~al galn ~oss) (attach Schedulo D (Form 1065)) . .. . . 4d
8 Net long-torm capital galn ~oss) (attach Schedula D (Form 1065)) . . . . .. 4a
f O1her portfolio Income ~oss) (attach schedula).. ..' . .' . ,. .. . 41
Ii Guaranteed p;iyments to partners ., . . .:' '.":." :.::. ." .. ., ..... Ii
8 Net gain ~oss) undor section 1231 ~thor .th"!' duo' to casualty or theft) (attach Form 4797) 8
. 7 O1herlncome Ooss\ (attach schedulo . ". '. . . . . . . . . . . . . .. 7
b B Charitablo contributions (see Instructions) (ai/ach schedule) ~ ',: .' . . . :.. B
.' .g ~ 9 Section 179 exponse deduction (~Fo~62~:.~ ...,:. : .. ... 9
C ~ 10 Deductions related to portfOIlO~mlll(S'ln . . ., . '. .'. ~ 10
11 O1her deductions (attach sched .. ~ ':. . ".'J 11
'il ~128lnteroStexpen;;aonlnvestment .~....:..~l.:...... .. 128
> i S .b (1) Investmont Incom"!~cluded on lines 40, 4b, 40, ~d 4f above. .. .. 2bll
.5 E.5 ,i2) Investment'exoons'OS Included on IIno 10 above. .; .:-. ~.. . '. 2bl2
138 Credit for Income ta;,wlthheld '.';": . .:-.:.:'.....:';:... ., ..... . 138
. \ . .' ..... ." '.' '. '. . "... .'.", ." .'
b L'ow-Income housing credn (see Instructions): ':.... ....:.c:...,/.c.. J. . ..
(1) Frompartriershlps to Which section 420)(5) apPI~Sfor'~;~~~riY p~~d In service bel~re 1990 .
. (2) O1her than online 13b(1) for property pieced In service before Ill!lO '. .;.... .
(3) Frompartne;;.hlpsto which section 42(D(5) applies for pnij,erty placed In service after 1989
. (4) O1her thai1 on Ojlne 13b(3) for property placed In s8rV1ce aftor1989" . . .'. . . .
~ \'. . -..... \.. '.' . ." . ..
o Qualified rehabilitation. expenditures related to rental reaJ lis1ato ocUvilIes (attach Form 3468)
. . .." - . , . ".". .
c! Credits (other)!tan credItS shown on lines )3b and 130) related to renw reaJ estate actMtles (see Instructions)
. Credits relalOd 10 other rental octlv~les (see Instructions) ';" "'.':: '. .. .'. .. . ; ;.
-'.. 14 O1hercredns(s.elnstruCtlonsl ;."i- . . '.' t.. .":"'l.:'''o ..: ;'
l;- 150 Neteomings~oss)fromself-employmont. ."....:.. 0'.- -.- .. -.'- :.:. .... ..
~~1l b Gross farming erflshlng Income "':". .. ..:':' .:':. . '.- . .'. . . o'
..... E c GroSs nonfarm Income. '. ~'. ..... '.. .. .,
'l! :l 180 Depreciation adjustment on property' placed In service aftor 19B8 . . .
i~.. bAdjustedgalnorloss :....:....._..:'~.;:: .-..0'.".. .. .. .'.
"i E c Depletlori (other.thanoll and gas) .... .... .'. .-.. " . .
I c;; ~ d (1) Gross Income from oil, gas, and geothennaJ properties .. .. . ..
:;; ~ (2) Deductions allocable to oil, gas, and geothermal properties . . .. ...
00: 8 O1her adlustmonts and tax preference lIem';"(attach schedule). .
:I 17e Type of Income.~ _""'''~''''':'':'' b Foreign country or U.S. possession ~ -................
~ c Total gross Income from sources outsldo the Un~ed Stales (attach schedule). ... . ..
c d Total applicable deducilons and losses (attach schedule). . . . .. . .
lOll .8 Total lorelgn taxes (check ono): ~ 0 Pald 0 Accrued . . .
E. f Reduction In taxes avallable f~r credn (attach schedule). . .......
.f 0 O1her forelan tax Information (attach schedule' . .'. . .,
180 Total eXpendnures to which a section 59(0) election may apply . ....
b 'Type of oxpendllures ~.....':..:...;.;........................-........................:..........
19 Tox-exompllnterost Income' .. ., . _ ._ .. . ~ I.. .. . - . . 19
" 20
20 O1hor tax.exemptlncomo. . . . . . . . . . . . . . . . . .... . .. c' ,
.' 21 Nondeductible expenses . ,,: . . ; .. .' : .'. . .. . . . . . . . , ... 21 .
22 Other ~ems and amounts reculroo to be moortcd to .~ ; 'see Instructlons! (attach schedu/O)~
. 23a Incomo ~oss). Comblno lines 1 through 7.ln column (b). From the rosuIt. subtmct the sum of" .
IInesBthroughI2o.17e,andI8o. . . . . . . . . .'. . . . . . . . . 23a 8,974
b Analysis by type (a) Corporato (b) IndMdual (e) Portnenlhlp (cf) Exempt (0) Nominee/other
of partner: I. Active U. PassIve "'llanlzation
(1) General partn... 8,9/4
I2l Umlled partn...
'1 .
I
i
~
CD
E
Q
U
.5
.:1
!
u
..
CD
.:8
.!!
~
co
~
3bl1
3bl2
3bl3
3bl4
130
13d
i 13&
14
150
15b
150
180
16b
160
6dl1
6dl2
168
170
17d
17e
171
170
180
Pogo 3
(bl Total emount
1
21-
~
6,988
1,986
.
\
1,986
.
.
.. '
. ..::....
;,
<'..,.
1. .......
(3D
'.
.- . ,.
" ..".,'
Rwm' 8825
Rental R( Estate Income and Expenst'
Partnership or an 5 Corporation
~ SM Inltuc:Uonl on back.
~ Attach to Form 1065 or Form 11203.
)f a
0,,"9 110, t!>4~IIM
_...... T..-.y
.....,. newwut ~
Nsm.
Wray's Music House Partnershi
1 Show tho kind and location of each property. See pago 2 for additional properties.
. Commercial rental
A '37U''l1arKC't "lit ree't ',"'i:eiDiiyiiii;" pi{' 'i'iii43..................................................................................
~@94
EmP'OYW ldanuncatlon numbef'
23 i 1733868
B .................................................................................................................................................
. . .
C .................................................................................................................................................
. .
[) .................................................................................................................................................
~
Properties
"
Rental Rosl EState Incomo
2 Gross rents , 2
, . .' .
'.
Rental Real Estate Expenses 3
3 Advertising , .. , ,. . , ,
4 _ Auto and trav61. , , .' , 4
6 Cleaning and maintenance. . 6
6 Commissions , , . . 6
7 InsuranCe ., , 7 1 390
. , . . " .
8 . legal and other professiorui! fees : 6 1 045
9 Interest . . 9 '3 620
10 ' RopaIrs " .. " . 10
, . , .
11 Taxos . ' .. " 11 3 426
~ , . '. "
12 Utilities . . 12 6 509
. . . , ,
13 'Wages and salaries : ' , .. .,'.f 13
, .14 Dopreciall~n (soo Instructions). ", 14 2 658
16 Other Qlst) .. ..:.......~:~....~... .' ,
-:.~1~~..!:~~EII!!!!...:......:..: . 16 25
:.9..f~.c:!:..:'~p.P.!.~!:~...::...; . . 108
1.6 Total expenses for each property:
Add lines 3 through 15 18 18 781
..
B
c [)
, . ".,:)".,
." .....
"
I
. . .., :. ~ 0:.. . .," .
17 , Total gross rents. Add gross rents from IIno 2, columns A through H ,
17
25,769
, .
16 Total expenses. Add total expenses from line 16. columns A through H . , .;
.' .,' ..... . '.
18
18,781, )
. .'
19 Net gain Oo~i from Form' 4797. Part II. line 20. from the dlsPosnlon of property from rental real
estate activities . , .'. " . .' . . . . . , . . . , , . . . .'. . , . . 19
" ,
200 Net Income Qoss) from rental real estate activiiles from partnerships. estates, and trusts In which
this partnership or S corpomtlon Is a partner or beneficiary (from Schedule K.1). . ,'. . . 20a
b . Id6ntlfy b610w the partnerships. estates, or trusts from which net Income Qass) Is shown on line 203.
Attach a schedule If more space Is needed: :
; If) Name,
. '
,,-
, ,
(2) Employer Idenlif!catlon number .
..................................................
...............................................-....
-.............-......................................
........................................................
............................................................
......................................................
21 N6tlncome Qoss) from rental real estate activities. Combine lines 17 through 20a. Enter result
' here and on Schedule K. line 2 ......... . . . . . . . . . 21
For Paporworl< Reduc1lan Ac1 NoUce, .... back of 'ann. Cat No. 10136Z
6,988
F<xli1 8825 (19941
&lIIII Election To Expense Certain Tangible Property (Suction 179) (Note: If you hava any .Usfod Proparty..
comp/ato Part V bofore you comp/ofo Part I,)
1 Maximum dollar limitation (II an entorprl50 zono bU5lnos5, soo Inslrucllons.) . . . . . .
2 Totol cost of soctlon 179 proporty placod In sorvlco during tho lax yoar (soo In5tructlons) '. .
3 Threshold cost of secilon 179 proporty boforo reduction In tlmltatlon. . . .' . . ',' .
04 Reduction In limitation. Subtractlino 3 from IIno 2. II zoro or loss, soter -0- . . . . _ .
6 Dollar IImltallon for taX year. Subtract IIno 4 from IIno 1. II lOro or loss, soter .0-. Of man1ed
filln so aratol . soo Instructions.). .'. . .' . . . , . . . '. . . . . . . . .
101 QoscripUon 01 prtlpo<1y tbl Cost (e) Etoctod ant
r~ 4562
D.-eclatlon and Amortization '-
(Including Information on Ustod Property,
~afhrrM.krf
~1rNl ,,~...... r~.
... 6041 sepnrnte In!ltnJctlons.
~ Attnch this form to your "'turn.
Name(l) Ihown on r.turn
WrnY'R Muulc IIOIIIIU Pllrt.wrllht)
DUllMU Of Icth1ty 10 which lhll form retalll'
All bURlnunn nctlvltlun
8
OMO No. 1545-0172
~@94
Attachment
5tlQunnce No. 67
IdenUrytng numbot
23-1733868
1
2
3
04
17 500
200 000
15~
"
7 Usted property. Enter amount from Une .
8 Total elected cost of secllo.n 179 prope d ts colum (c), lines 6 and 7 _-~_ '.'. 8
9 :rentatlvededucllon.EnterthesmallerofUneSorUne8 ...,~' :,....,;.:: .~': ; '."0'; 9
10 Cairyover of !llsaJlowed deduction ,from 1993 (soo Instructions). . 'i; :",,: ',"'. -;' ":., .: '.'.... 10
11 . Taxablo Incomelimilatlon. Ent6llhe small61 of taxable Income (not less th.1n zero) or Une S (sou InstructJons) , 11
',12 Section 179 expense deduction. Add lines 9 and 10, but do not ,enter mom than Une 11 .. 12
13 C ver of disallowed deductlo'ri to lOgS. Add Unes g and 10, loss line 12.. 13
Note: Do not iJs~ Part II or Part 11/ below for listed property (automobiles, certain other vehicles, cellular telephones, :
certain computers, or property used for entertainment, recreation, or amusement). Instead, use Part V for listed property.
IimIIII MACRS Depreciation For Assets Placed In Service ONLY During Your 1994 Tax Year (Do Not Include
UstedPro e -.. ",., ... -,.....'. .-" ,.......
, .. .,' (b) Month and (e) Basis fo< dcprodl ld) ~
.(0) CIassillcoUon 01 property .::. ,)'11M placod In (businossIInvosonl """ . .........
'. ~ .... 1eI'Vk:8. . on instructions ..-.......
Seclfon A-General Depreciation System (GDS) (see Instructions)
14a
b
c
d
e
,
9
'.'
J' ';'.
.'
_"0:._ 4 ,. 27.S MM S/L
" 27.5 MM S/L
4/15/94 8 168 39 HM S/L
HM S/L
Section B-Aftematlve Deprecletlon System (ADS) (soo instructions)
S/L
12 s. S/L
40 s. MM SIL
168 Class Ine
b 12- ear
c 40- ear
IiI!IIIIII Other Depreciation (Do Not Include Usted Property)
18 GOS and ADS deductions for assets placed In service In tax years beginning before 1994 (sou Instructions)
17 Property subject to section 16B(Q(I) eloctlon (soo Instructions) .
, 18 ACRS and other depreciation (see Instructions) :.....
Iil!IDD s~mmary
't. .
19 Usted property. Enter amount from line 2S. . . . . .. ...... ' 19
20 Total. Add deductions on IIno 12,IInes 14 and 1SIn column (g), and lines 16 through 19. Enter h6lll
and on tho appropriato Ilnos of your retum. (partnerships and S corporatlons-see Instructions
21 For assets shown above and placed In service during the current year, onl61
the rtlon of Ihe basis attributable to section 263A costs see Instructions
For P8pelWOrk Radur:tlon Ac1 Notice, ..... page 1 01 tha separate Ins1nJc1lons. Cot No. 12906N
IlII Ocpreclatlon deduction
16
17
18
1 989
OMB No. 154S-0099
SCHEDULEK-1 Partner's SI ~ of Income, Credits, Deduc" ns, etc.
(Fonn'1065) . ~ See sepom1elns1nJctlonl.
~oIlN''''''''
Int~ n~ SeMel For calendar year 1004 or t.u y.ar beginning . 10G4. and ending 110
partner'a Idenll n number" 526-18-5669 Partnel'llhl 'aldanll n number"
Partner's name, address, and ZIP code partnership's name, address, and ZIP code
Nana E. Wray Wray's Music House Partnership
421 Allendale Way 370 Market Street
Camp l\l 11 , PA 17011 Lemoyne, PA 17043
~@94
F Partner's share of liabilities (see instructions):
N $ -0-
onrecourse. . . . . .'. ....................
Qualified nonrecourse financing $ .............:~:'...
Other . . . . . . . . .. $ .......g.!.~~~...
Tax shelter roglstmtlon number. .. "'......:I!l!t:...........
Check here If this partnership Is. a publicly traded
p.artnershlp as defined In s.ectlon 469(\<)(2). . ., 0
Check applicable boxes: (1) 0 Final K.l (21 OAmended K.l
A This partner Is a 1XI general partner 0 limited partner
o limited lIablilty company member
B What type of entity Is this partnor? .. Il)~~.y.~~.l!.'!L...
C Is this partner a [li] domostlc or a 0 foreign partner?
D Enter partne~s percentage ot Ol :f':=o (lQ :;;; of G
Profit sharing. . . ......... %4~,.fJAn% H
Loss sharing . . . '. .......... %4~1.5..5Zl %
Ownership of capital . . . . ......... %42_8521 %
E IRS Cent6r where artnershlp flied retum: Phlladel hi
J Ane sls 01 artner's co ltal account:
101 CapnaJ llCCOUllt It (b)CapIt4l
boglnnlng of yoar during
.,
(e) Distributive ahalll I1llm
IdJ WIthdnIwals and II) Capital account at and of
distribution. yoar (comblno coIum". (I)
_ugh )
')
(b) Amounl (c) 1040 nle", enter the
amounlln column (b) on:
1 }'
2 2.994 Soo Partno<'. tnstnK:llons to<
3 ,Schodula K.' (F~ 1065). ,
4a 852 Sch. B, Pari I, line 1
4b Sch. 6, Par1I1, line 5
4c Sch. E. Pari I, line 4
4d Sch. 0, line 5, col. (Q or (g)
4a Sch. 0, IIna 13. col. (Q or (g)
4f EIltu on appllablt IInI of your f'It\lm.
5 1 Soo P~er'. Instnlctlons tOt
6 Schodulo K.l (Form ~065). '
7 EIltu on IPpllabll I1nI ofyouf mum.
6 Sch.A.llno 15 or 16
9
10 } Soo Partner'. InstructJon. lOt
Schodulo K.1 (Form 1065).
11
Form 4952, line 1
852 } Soo Partner'. Instnlc1lons fOt
Schodula K.l (Form 1065).
See Partner's InstJUctlons fOt
Schodulo K.1 (Form 1065).
'ii'
..
~
c
E
8
.s
1 Ordinary Income 0055) from trade or business activities
2 'Net Income Oose) from rental real estate activities
3 Net Income Ooss) from other rental ectlvltles .
4 Portfolio Income Ooss):
. Interest. .'.,..
b Dividends. . , . . ....
c Royal1los.-: ",'...... ;.,'. .
d Net short.tenn cap~aI gain Ooss)
Netlong.tenn capl1al gain Oose).
Other portfolio Income Ooss) (attach schedu/a) . .
Guaranteed payments to partner . . . .
Net gain (loss) under section 1231 (allier than due to casualty or theft)
Other Income ose attach schedule . . . . . . . .
Charilable contributions (soo Instructions) (attach schedu/a) .
Section 179 expense deduCtIon. .'. . . . . . .
Deductions related to portfolio Income (attach schedule) .
Other deductions attach schedule. .'. . . . . .
.'
.
()1Il
::Ie
'00
c:;=
Q
e
f
5
6
7
6
9
10
11
!'M
~ ~ 120 Interest exp~nse on Invesiment debts. . . . . . . .
_!! :s b (1) Investmantlncome Included on lines 40, 4b, 4c, and 4f above
e Investment ex enses Included on line 10 above
134 Cred~ for Income tax withheld . . . . . . . . . . .
b tow.lncome housing cred~: .
(1) From section 42(j)(5) partnerships for property placed In
service before 1990 . . . . . . . . . . . . . .
(2) Other tl1an on line 13b(l) for property placed In service before 1990
(3) From section 42(j)(5) partnerships for property placed In
service after 19S9 . . . .' . . . . . . . . . . .
(4) Other tl1an on line 13b(3) lor property placed In service after 1989
c Qualified rehabll~atlon axpendltures related to rental real estate
actlvilles (soo Instructions) . . . . . . . . . . . .
d Credits (othar than credits shown on lines 13b and 13c) related
to rental real estate activities (soo InstnJctlons). . . .
e Credits related to other rental actlvltJas (soo InstnJctlons) .
14 Other credits soo Instructions . . . . . . . . .
For Paperwork Redu~on Ac1 Notice, "" Instructions for Fonn 1065.
. .'
Form 6566. line 5
~
'0
I!!
()
13<1
134
14
Cat No. 11394R '
) Soo Partno<'. tns1nJ<:t!on. lOt .
Schodulo K.' (Form 1065).
Schedule K.l (Fonn 1065) 1994
~ .- '
SCHEDULE K.1 . Partner's Sh I of Income, Credits, Deduc ''1S, etc.
(Fonn '1065) . ~ See ..""",Ie InltnJc1fons.
~ 01 Ihe TraN'Y
Int.nal n---.... ~ For c.ltndlir Y'Hr 1DCM or tax y..r begInning . 1W4, .nd ending .1U
Partner'llldentl In number" 195-38-9659 Partnerahl 'aldentl Ing numbar ~ 23
Portner's nama, addrass, and ZIP coda Portnership's name, address, and ZIP coda
Nana W. DeStefano Wray's Music House Partnership
221 Glenside Lane 370 Market Street
Camp lIi11. PA 17011 Lemoyne. PA 17043
OMS No. 15-15-0099
~@94
1733868
F Portner's share of liabilities (see Instructions):
Nonrecourse. . . . . .. $ ......7.Q::.........
Qualified nonrecourse financing $ ......7.Q::.........
Other . . . . . . . . ., '$ .u...n~.........
N/A .
Tax shelter registration number. .. ..........................
Check here If this partnership is~a publicly traded
partnership as defined In section 469(\<)(2). . ., 0
A This partner Is a IXI genoral portner 0 limited partnor
o limited liability company member
B What type of entity Is this partner? .. I.l).4~y.;~l'.~.L.....
C Is this partner a IXI domestic or a 0 foreign partner?
o Enter partne~s percentage ot. (IJ Beloro chongo (II) End of G
, ottllfTT\lnatlon 57fl
Profit sharing. . . ......... %28.:......4 % H
Loss sharing . . . ......... %28.:?n4 %
Ownership of capital . .. ......... %28...57.1.4 %
E IRS Center where partnership filed return: Philadel hi
J Ana als of ortner's co ltal account:
(I) Capital Icccunt ot (b) Capital coot
beginning of )'OOl' during
Check applicable boxes: i,) 0 Final K.l (2) DAmended K.l
(I) Distributive ahare Item
-
III
III
o
c::!.
<II
E
o
U
.5
1 OrdinlllY Income Ooss) from trade or business actlv~les
2 Net Income Ooss) from rental real estate activities
3 Net Income Ooss) from other rental actlv~les .
4 Portfolio Income Ooss):
. Interest .'
b DIvidends. '; ; .;
c Royalties. . . -:':'.'
d Net short.tenn cap~al galn Ooss)
. Net long.tenn capital galn Ooss).
t Other portfolio Incom6 Ooss) (attiJch schedule)
5 Guaranteed payments to partner . . . .
8 Net gain (loss) under section 1231 (other than due '10 casually or theh)
7 Other Income oss attach schedula). . . . . . . .
8 Charitable contributions (see Instructions) (attach schedule) .
9 Section 179 expense deduction. . . . . . . . .
10 Deductions related to portfolio Income (attach schedula) .
11 Other deductions attach schedula. .
,
UIIl
:Ie
'1:10
Gl;:l
C
i14
.IS I!! 128 Interest expense on Investment debts. . . . . .
....
= 'E b (1) Invostmentlncomelncluded on lines 40. 4b, 40, and 4f above
.s - 2) Investment ex enses Included on line 10 abovo
138 Cred~ for Income tax withheld . . . . . . . . . . .
b Low.lncome housing cred~:
(1) From section 42(j)(5) partnerships for property placed In
service before 1990 . . . . . . . . . . . . . .
(2) Olher than on line 13b(l) lor properly placed In service before 1990
(3) From section 42(j)(5) partnerships for property placed In
service after 1989 . . . . . . . . . . . . . . .
(4) Other than on line 13b(3) for properly placed In service after 19S9
c Qualified rehabllllaUon expend~ures related to rental real estate
actlv~les (see Instructions) . . . . . ... . . . . .
d Cred~s (other than credits shown on lines 13b and 13e) related
to rental real eslete actlv~les (see Instructions). . . .
. . Credits related to other rental octlvilles (see Inslructlons) .
14 Other cred~s see Inslructlons . . . . . . . . .
For PepelWork Reduc1fon Ac1 NoUce, ... Ins1nJc1fona for Fonn 1065.
l:!
'1:1
e
o
(el) WithdrowoJ. ond
dbtritxrtlono
(b) Amount
1
2
3
1 997
4a
4b
40
4d
4e
41
5
8
7
8
9
10
11
567
13<1
138
14
Cat. No. 11394R '
"
(.) Caprtal account 8t end 01
year (combine columns (0)
h (d))
'J
(e) 1040 filers enter the
amount In column (b) on:
} See Partner's Insb'uctf~S 10f'
Schedulo K.1 (Fonn 1065).
Sch. B, Part I, line 1
Sch. B, Part II, line 5
Sch. E, Part I. line 4
Sch. 0, lino 5, col. (Q or (g)
Sch. D, lino 13, col. (Q or (g)
E1IIrrcnapPIlabllDntol)'Ourrrt\lm.
} See Partner's lnstrvctfons lot
Schedule K.1 (Fonn 1065).
. Entlron'corabllllnIoryourntum.
Sch. A. line 15 or 16
} See Partnor's Instructions for
Schedule K.l (Form 1065).
Form 4952, line 1
} See Partner's InstructIons lot
Schedule K.l (Fonn 1065). .
See Partner's Instructlons for
Schedule K.l (Fonn 1065),
Form 8586, lin~ 5
) See PartnOt'. InstnJcllons for
Schedulo K.' (Form 1065). ,
Schedule K.l (Fonn 1065) 1~1
-
Pooo 2
(c) 1040 nl.... errter the
nmounlln column (b) on:
Sch. SE. SectJon " a D
} s.. PIItnlW'I InlllUct_ lot
Schedule K.1 (Fonn 1(65),
8chodulo K.I IF"'"! 106511lm
.Il
~
~
'e
If
e! Ilia
it :
J! II 160
11 b
lid
160
b
..
CD 19
8 20
21
22
.
b
23
c
o
:g
~
~
~
CD
E
CD
8:
:l
'"
(I) DlltI1buU," Iha.. 111m
(bl Amount
Nol oomlngs ~o..) from solf.employrnonl .
Gross larmll1g or nshlng Incomo. . . .
Gross nonfarm Incomo. . . . . . .
(9)
See rattner's InlwcUons
for Schedule K.1
IFonn 1065) and
lr\ltJUctjons tOf Fonn 6251.
17.
b
Fonn 111., chock box..
} - ""....,
Form 1116, Part II
Form 1116, Part III
See l_forFonnl11B.
1 I See PIltnlW'I Instructions fa
ScI10dull K.l (Fonn 1065).
d
.
,
Total expendijures 10 which a section 59(e) election may apply
Type of expenditures .. .::......................................~..
'..............~......:..:.::.:....-....................................
Tax-exempt Interest Income .
Other tax.exemptlncoma. . . . . .
Nondeductible expenses . ". . . . .
Recapture of low-Income housing credij:,
From s9Cllon 42(j)(5) partnerships . . .
Other than on line 22a . . . . . . .
Supplemental Infonnatlon required to be reported separately to each partner (attach additional sdledulas If more space Is
needed):
Form 1040, line 6b
} See Partner's InstlUctlons tor
, ScI1odulo K.l IFonn 1065).
} Fonn6811,lInl.
....................................................................................................................................................
." '
,
...........................................................................................:..................................................
.................~................................... ..... .................................................. .....................................
...........................................................................................................................................
................................................................................................................................................
..............................................................................................................................................
.............................................................................................................................................
............................................................................................................................................
..........................................................................................................................................
..........................................................................................................................................
.............................................................................................................................................
..........................................................................................................................................
...........................................................................................................................................
..........................................................................................................................................
---.
OMU t~o. 1 ~5.00'J9
SCHEDULE K-1 Partner's 51. .e of Income, Credits, Deduc..Jns, etc.
(Form 1065) ~ So.ooparnloln.lruetlonl.
o..:lrtnw1t of thI r,UMJrV
1n1M\AI n____....~. For eallnd., ~..r 1* or lAJl V.., beQlnnlnA 11"", Ind .ndlng . tD
Partnar'o Identifying number" 175-40-581,1. Partnel'1lhlp'o Identifying number ~ 23:
Partner's name, address, and ZIP coda Portnorshlp's nomo. addross. and ZIP cado
William A. Wray, Jr. Wrlly'H Munic 1I0une PllrtDen;hip
91 Skyline Drive 370 Market Street
Mechanicsburg, PA 17055 I.emoyne, l'A 170f.3
A This partner Is 0 IX] general part nor 0 limited portner
o limited liability company mombor
B What type of entity Is this partner? .. .~!1~J:{g",!!~.....
C Is this partner a IX] domestic or a 0 foreign partner?
, 1 (I) BtlfOfe change (IQ End of
D Enter partner s percentage 0 : <X termination ~~v G
Profit sharing. . . ......... ,J8.~?....~ % H
Loss sharing . . . ......... ,J8.~??k~ %
Ownership of capital ......... %28..57.15 %
E IRS Center where artnershl filed return: P
J Analysis 01 partner's capital account:
(I) Cap.L1t accounl al (b) Capllal conln
beginnIng 01 year dunno vear
~@94
1733868
F Port nor's shore 01 lIabilillos (seo Instructions):
Nonrecourso. . . . . .. $ .....::~:-..........
Qualified nonrocourso financing $ .....::~:-..........
Othor . . . . . . . . .. $ .~~.!.~~~..........
Tax sholter registration numbor. ~ .....'I!/.f:..................
~
Check here If this partnership Is a publicly traded
partnorshlp as delined In section 469(k)(2). . ., 0
pllcablo boxes: (I) DFinal K.l (2) DAmended K.l
(a) DI.tributlva ahara Item
i
o
::!.
III
E
o
u
.5
1 ardinOJ)' income ~oss) from trade or businoss activltios
2 Net Income ~oss) from rental real estate activities
3 Net Income ~oss) from other rental activities.
4 Portfolio Income ~oss):
a Interest
b Dividends. . . . .
c Royalties. . . . .
d Net short.te"" capital galn Ooss)
a Netlong.te"" capital gain Ooss).
f Other portfolio Income ~oss) (attach schedule)
5 Guaranteed payments to partner . . . .
6 Nel gain (loss) under section 1231 (olher than due to casualty or thelt)
7 Other Income ass) (attach schedule . . . . . . . .
6 Charitable contributions (see instructions) (attach schedule) .
9 Section 179 expense deduction. . . . . . . . .
10 Deductions related to portfolio Income (attach schedule) .
11 Other deductions (altach schedule. . . . . . . .
.
u..
::Ie
'tIo
GI'-
C"
-
:St;
~ ~ 128 Interest expense on Investment debts. . . . . . . . .
~ ;: b (1) Investment Income Included on lines 4a. 4b, 4c, and 41 above
.5 - (2) Investment expenses Included on line 10 above
13a Credit for Income tax withheld . . . .
b Low.lncome housing credit:
(I) From section 420)(5) partnerships for property placed In
servlca before 1990 . . . . . . . . . . . . . .
(2) Olher thao on line 13b(1) lor property placed In service belore 1990
(3) From section 420)(5) partnerships lor property placed In
service alter 19a9 . . . . . . . . . . . . . . .
(4) Other thao 00 line 13b(3) lor property placed in service alter 1989
c Qualified rehabilitation expenditures related to rental real estate
activities (see Instructions) . . . . . . . . . . . .
d Credits (other than credits shown on lines 13b and 13c) rolated
to rental real estate activities (see Instructions). . . .
e Credits related to othor rental activities (see Instructions) .
14 Other credits seo Instructions) . . . . . . . . .
For Paporwork Reduction Act Notice, aeo In.tructlon. for Fonn 1065.
J!I
'6
f!
u
IdJ WllhdrawaJs and (I) CapItal account at end 01
year (combine columns la)
dlstnbutlons throlJ9h IdI)
(b) Amount (e) 1040 mors enter the
emountln column (b) on:
1
2 1 997 } Soo P8I1I1or'. In'lruellon, fDt
3 Schedul. K.l (Fonn 1065].
4a 567 Sch. B. Part I. line 1
4b Sch. B, Part II, fine 5
4e Sch. E. Part I. lina 4
4d Sch. D. line 5. col. (~ or (g)
4a Sch. D. lino 13. col. (~ Dr 19)
4f (nlH on Ipptable lint 01 your mum.
5 } S.. P8I1I1.... Inslruellons lor
B Schedul. K.l (Fonn 1065],
7 Enler on,ppliabltlint 01 yovrttlllm.
B Sch. A, lin. 15 or 16
9 } ~ Portn.... InSlruellons ror
10 Schedul. K.l1Fonn 1065].
11
Form 4952, line 1
567 } See Pannor'. InslructJon' 'Dr
Schedul. K.l1Fonn 1065].
See Pmtnot's Instructions for
Schedul. K.' (Fonn l06S),
Form 6586, line 5
13d
130
14
ITt:M2W(004101
] See Partner's InstructIons for
Schoduht K.' (Fonn 1(65).
Schedule K.l (Fo"" 1065) 1994
sc.~ociull K.' IFom1 '065} 1994
POO. 2
(c) 1040 rul'" enter the
amount In column (b) on:
Sch. SE. Section A or B
} See Plllnor', Instruclk)ns for
Schlldul. K.' IForm 10051,
(I) DlltrtbuUvl shari 111m
(b) Amount
'11
au
u!
.:
..
",a.
} Fonn 661',lIne 6
15a Net oarnlngs (loss) tram sell.employment.
b Gross farming or IIshlng Income. . . .
c Gross nonfarm Income. . . . . . .
160 Dopreclation adjustment on property placed In servica oller 19S6
b AdJusted gain or loss . . . . . . . . . . . .
C Depletion (other than oil and g35) . , . , . . . . . .
d (1) Gross Income from oil, gos. and geothermal properties . .
(2) Deductions allocable to oil, gas, and geothermal properties
e Other ad ustments and tax reference items altach schedule
170 Type of Income" .................................................
b Nome at foreign country or U.S. possession" .................
c Total gross Income from sources outside the United States (altach
schedule). . . . . . . . . .
d Total appllcabla deductions and losse alto
e Total foreign taxes (check one): .. 0 Id
f Reduction In taxes available for credit (a sc
Other forel n tax Information altach schedule . . . . . .
~u
I..
eR
. I!
I~
~...
See PoI1ner'. Instructions
ror Schedule K.1
IForm 1(65) ond
Inslructions tor form 6251.
Fonn 1116, check boxes
t k~"".""
Form "'6, Pari II
Fonn 1116, Pari 111
See Instructlons fOl Form 1 tIS,
I See Partner'slnslNCtlons for
Schedule K.l lfontll005),
III
..
~
C
Dl
1!
If
18a Total expenditures to which 0 section 59(e) election may apply
b Type of expenditures" ...........................................
..
..
5
......................................................................
Fonn 1040, line 6b
} See Partner's Instructions for
5cI1lldulo K.l (Form 1005).
Tax-exempt Interest Income .
Other tax-exempllncome. . . . . .
Nondeductible expenses. _ . . . .
Recapture of low.lncome housing credit:
From section 42(j)(5) partnerships . . .
Otherlhan on line 22a. . . . . . .
Supplemental Information required to be reported separately to each partner (attach edditlonal schedules If more space Is
needed):
19
20
21
22
a
b
23
..........................................................................................................................................
.........................................................................................................................................'
I
..........................................................................................................................................
..........................................................................................................................................
c
o
:;0
III
E
~
OJ
..
c
..
E
..
is.
a.
::I
Ul
..........................................................................................................................................
...........................................................................................................................................
..........................................................................................................................................
..........................................................................................................................................
..........................................................................................................................................
..........................................................................................................................................
..........................................................................................................................................
.........................................................................................................................................,
..........................................................................................................................................
..........................................................................................................................................
.
"""
,~
'. Fo'm 1065
U.S. r-artnershlp Return of Income
O,.II! 110, 1'~4S'llOll'i
.10 ,... .
~@93
:'
I
OfOp,a"m.nl olth. Y'''''urv
InllPfnlol R.~envtl S<<VO(;.
ror calendar year 1093, Dr tn )lllllf beginning ......,. ,1993. tlnd IIndlMQ
.. SOD so a'lllo Instructions.
,.1.........'......."...."".. 1.'_ " l. "'",U'I I.J.."", 1.""11
JP 23-1733868 DEC93 528
WM A & NANA WRAV ETAL PTR
WRAVS MUSIC HOUSE
370 MARKET ST
LEHOVNE
F TCUI jS\l1S un S~udj, 111111"11'1111
Ut-,.
L
o [mployer IdenUlIullon number
23: 1733868
A Pnnclpal business actlvllV
Rental
o Pnnclp.11 pfOC]UCI or t.e,.."e
Rental
Uso tho
IRS
label.
Olher.
wlso,
pion so
print
or type.
PA 17043
,-
,
E 0.110 bu~mC~5 slarted
1/1/71
001
l
C Business codo number
6511
G Check applicable boxes: 111 0 101".1 'eturn 121 0 Final return (3) 0 Change In address (4) 0 Amended return
H Check accounllng method: III 0 Cash 121 rn Acc<ual (3) 0 Other (Specify) ~ ..,.............,....'..'...........................'....,
I Number of Schedules K.1. Attach one for each person who was OJ partner at ilny time dUring the tnx year .. .........~........."..................................,.
~
Caution: Include only trade or business income and expenses on lines la thnough 22 below. See the instructions for more informalion.
1 a Gross receipts or sales
b Less returns and allowances.
1a
lb
Ie
Gl
E
o
u
.E
2 Cost of goods sold (Schedule A, line 8) . . . . . . . . . .
3 Gross profit. Subtract line 2 from line lc.. ..........
4 Ordinary income (loss) from other partnerships and flducianes (attach schedule)
5 Net farm profit (loss) (attach Schedule F (Form 1040)) . . . . .
6 Net gain (loss) from Form 4797, Part II, line 20. . . . . . . .
7 Other income (loss) (see instructions) (attaOepy .
8 Total Income (loss). Combine lines 3 throu h 7 . . . . . .
2
3
4
5
6
7
8
W 9a Salaries and wages (other lhan to partners).
,2 b Less employment credits. . , .
E 10 Guaranteed payments to partners .
~ 11 Repairs and maintenance.
~
.2 12 Bad debts. . .
"
.~ 13 Rent. " . . .
U 14 Taxes and licenses
2
;;; 15 Interest. . . .
oS
!l 16a Depreciation (see inslructions)
.!!!. b Less depreciation reported on Schedule A and elsewhere on return
~ 17 Depletion (Do not deduct 011 and gas depletion.)
.g 18 Retirement plans, etc.. .
g 19 Employee benefit programs. . .
'tl
Gl
C
ga
9b
gc
10
11
12
13
14
15
16a
16b
20 Other deductions (attach schedule)
20
21 Total deductions. Add the amounts shown in the far ri ht column for lines gc thnou h 20 .
21
22 Ordinary Income (loss) from trade or business activities. Subtract line 21 from line 8 .. 22
Under penalhes 01 perjury,l declare that I have examined this return. including accompanvmg senedules and statements. and 10 the best 01 my knowledge
and bellol, It IS true, correct, and complete. Dcctarahon of preparer (Olner tnan geneml partner) is basoo on alllnformahon of which preparer has any
knowledge,
Please
Sign
Here
'I
~ s~natu'e 01 general partner
~~ll
178 : 38: 0 54
23 : 2031 22
17011
Form 1065 (19931
Prepare,'s SOCUJI secunty no.
Prepare"s .....
stgnalure r
Firm's name lor
VOU~ ., self.employed)
and address earn
For Paperwork Reduction Act Notice. see page 1 or separate Instructions.
Check .,
sell.employed ~ 0
E." No. ~
ZIP code ....
Cat No. 11 J90Z
Paid
Prepaler's
Use Only
.-.,
Form l00~ (1!)!)JI p,\QO 2
mmm!l!IJ Cost of Goods Sold
1 Inventory al beginning of year. . . . . . . . . .
2 Purchases less cost of items wilhdrawn for personal use.
3 Cost of labor. . . . . . . . . . . . . . . .
4 Additional section 263A cosls (see Instructions) (attach schedule) .
5 Other costs (attach schedule)
6 Total. Add lines 1 through 5 . . . . . . . . . . . . .
7 Inventory at end of year. . . . . . . . . . . . . . .
6 Cost of goods sold, Subtract line 7 from line 6. Enter here and on page 1, line 2
ga Check all methods used for valuing closing inventory:
(I) 0 Cost
(11) 0 Lower of cost or market as descnbed In Regulations section 1.471-4
(iii) 0 Writedown of "subnormal" goods as descnbed in Regulations section 1.471-2(c)
(Iv) 0 Other (specify method used and attach explanation). .......................................................................
b Check this box if the UFO inventory method was adopted this lax year for any goods (if checked, attach Form 970). .. 0
c Do the rules of section 263A (for property produced or acquired for resale) apply to the partnership? . 0 Yes 0 No
d Was there any change in determining quantities, cost, or valuations between opening and closing inventory? 0 Yes 0 No
If "Yes," attach explanation.
1
2
3
4
5
6
7
8
~
~ Other Information
1 What type of entity is filing this return? ,., n "0"';7
Check the applicable box" IX! General part~UJlTmiti.PartnershiP 0 Umited liability company
2 Are any partners in this partnership also partnerships? . . . . . . . . . . . . . . . . . . .
3 Is this partnership a partner in another partnership? . . . . . . . . . . . . . . . . . . . .
4 Is this partnership subject to the consolidated audit procedures of sections 6221 through 6233? If "Yes," see
Designation of Tax Mallers Partner below. . . . . . . . . . . . . . . . . . . . . . .
5 Does this partnership meet ALL THREE of the following requirements?
a The partnership's total receipts for the tax year were less than $250,000;
b The partnership's total assets at the end of the tax year were less than $600,000; AND
c Schedules K-l are filed with the return and furnished to the partners on or before the due date (including
extensions) for the partnership return.
If "Yes," the partnership is not required to complete Schedules L, M.l, and M.2; Item F on page 1 of Form 1065;
or Item J on Schedule K.l. . . . . . . . . . . . . . . . . . X
8 Does this partnership have any foreign partners? . . . . . . . . . . . . . . . . . . . . X
7 Is this partnership a publicly traded partnership as defined in section 469(k)(2)? . . . . . . . . . . X
8 Has this partnership filed, or Is it required to file, Form 8264, Application for Registration of a Tax Shelter? . X
g At any time during calendar year 1993, did the partnership have an interest in or a signature or other authority
over a financial account In a foreign country (such as a bank account, securities account, or other financial
account)? (See the instructions for exceptions and filing requirements for form TIl F 90.22.1.) If "Yes," enter the
name of the foreign country. . ............................................................................................ X
10 Was the partnership the grantor of, or transferor to, a foreign trust that existed during the current tax year,
whether or not the partnership or any partner has any beneficial interest in it? If .Yes," you may have to file
Forms 3520, 3520.A, or 926 . . . . . . . . . . . . . . . . . . . . . . . . . . . . X
11 Was there a distribution of property or a transfer (e.g.. by sale or death) of a partnership interest during the tax
year? If "Yes," you may elect to adjust the basis of the partnership's assets under section 754 by attaching the
statement described on pa e 5 of the instructions under Eleclfons Made B the Partnershl . . . X
Designation of Tax Matters Partner (See instructions.)
Enter below the general partner designated as the tax matters partner (TMP) for the tax year of this retum:
Name of ...
designated TMP ,.
Address of ...
designated TMP ,.
Identifying ...
number of TMP ,.
..-.
Paqo 3
" , Partners' Shares of Income. Credits. Deductions. etc.
(a) Distributive shore items (b) Total amount
1 Ordinary income (loss) 'rom trado or bUSIness activitlOs (page 1, hno 22) .....L
2 Net Income (Iossllrom rental real estate activities ("rtacll Form BB2r) . I' 2 17 (,79
'1 . ---
3D Gross incomo Irom oHler rental activitIes . . . . . . ., 30 ~~~~
b Expenses Irom other rental aclivllies (att,lch schedule). . . . I 3b I I ~~
.'0 ,~:';
- o Net income (loss) from other rental activIties, Subtract line 3b from line 3a 3c
III
III Portfolio income (loss) (see instructions): n Inlcrcsl income 40 2.589
0 4
..J
- b Dividend income. 4b
Cll 40
E o Royalty income
0 d Net short.term capital gain (loss) (attach Schedule 0 (Form 1065)) 4d
u
.5 e Net long. term capitol gain (loss) (attach Schedule 0 (Form 1065)) 4e
f Other portfolio income (loss) (attach schedule) 4t
5 Guaranteed payments to partners ~5
6 Net gain (loss) under section 1231 (other than due to casually or theN) (attach Form 4797) 6
7 Other income (loss) (attach schedule' 7
. 8 Charitable contributions (see instructions) (attach schedule) 8
u
:I III 9 Section 179 expense deduction (attach Form 4562). g
'Dc
CllO 10 Deductions related to portfolio income (see instructions) (itemize) 10
C~ 11 Olher deductions (attach schedule) . 11
- 120
.:. en 120 Interest expense on investment debts .
cn-e
CllC", b (1) Investment income included on lines 4a, 4b. 4c. and 4f above 2bll 2.589
"",-
'sEc (2) Investment expenses included on line 10 above. 2bl2
130 Credit for Income tax withheld 130
b Low.income housing credit (see instructions): 3bll
(1) From partnerships to which section 420)(5) app~e~ice belore 1990. .
en (2) Other than on line 13b(l) for property plac In rvl 0 . . . . . . . 3b(2
-
'6 (3) From partnerships to which section 42ij)(5) appli."s \ ""Ilroperty pt8lll!d In service after 1989 3bl3
Cll 3b(4
... (4) Other than on fine 13b(3) for propeny placed In service after 1989 .
0
o Oualified rehabilitation expenditures related to rental real estate activities (attach Form 3468) 130
d Credits (other than credits shown on lines 13b and 13c) relaled to renlal real estale activities (see instruclions) 13d
e Credits related to other rental activities (see instructions) 13e
14 Other credits (see instructions) 14
>. 150 Net earnings (1055) from self.employment . 150
"
. -- b Gross farming or fishing income. 16b
_ CLC
iiiEcu
"'....e o Gross nonfarm income. 15c
"'", 160 Depreciation adjustment on property placed In service after 1986 160 317
Cu
"c b Adjusted gain or loss 16b
....
--..
50:!! E o Depletion (other than oil and gas) 160
e"''' 6dll
-- d (1) Gross Income from oil, gas, and geothermal properties
-;;0.-
".. (2) Deductions allocable to oil, gas, and geothermal properties . 6dl2
-..
~>- e Other adiustments and tax preference items (attach schedule) . 16e
en 170 Type of income ~ ................. b Foreign country or U.S. possession ~ ................
Ql
)( o Total gross income from sources outside the United States (attach schedule). 170
~
c d Total applicable deductions and losses (attach schedule) . 17d
01 e Total foreign taxes (check one): ~ 0 Paid 0 Accrued 17e
~
0 f Reduction in taxes available for credit (attach schedule) 17f
II. 9 Other foreion tax information (attach schedule) . . . 17g
180 Total expenditures to which a section 59(e) election may apply 180
... b Type of expenditures ~............................................................................
Ql 19 Tax.exemptlnterost Income 19
~
0 20 Other tax.exemptlncome . 20
21 Nondeductible expenses . . . . . . . . . . . . . . . . . . . . . . ~
22 Other items and amounts required to be reported separatelv to partners (see instructions) (attach schedule'
230 Income (loss). Combine lines 1 through 7 in column (b). From the result, subtract the sum of
en lines 8 through 120, 17e. and 18a . . . . . . . . . . . . . . . . . . . 230 20.268
'jjj (b) Individual
>- b Analysis by type (a) Corporate (c) Pannership (d) Exempt (e) Nominee/Other
co
c of partner: i. Active Ii. Passive organization
< (I) General panners 20.268
(2) Umlted Danners
.. Form 1065 (l9931
I
t
..-.,
Rental Re... Estate Income and Expense_ of a
Partnership or an 5 Corporation
.. Seo Inslucllo"s on back.
~ Anach to Form 1065 or Form 11211S.
'. Fo"" 8825
Otp&!1"'-",1 of I". flla.ury
'I'IIIffl.l1 ".~."~ s.,....oe.
Name
QMU"o 1~.~.t186
~@93
Employ., IdlntlflCltlon number
Wrnys Munte House l'nrtnernhlp 23 17J3H68
1 Show the kind and location of each property. See page 2 lor additional properties.
Commercial rental
A .. :i70"~ia'rk,;t" 5 t'rci;t'; "j:enioY'lic';' 'Ii;';"j 'jiii.}.."..,.,',...,',....,...,",.".,......."....,..,.,........"....,...,....,...
B ...................................................,............,.............,.............................,....,...............................
c .................................................................................................................................................
o .................................................................................................................................................
~
Rental Real Estate Income
2 Gross rents. . . . . .
Rental Real Estate Expenses
3 Advertising. . . . . .
4 Auto and travel. . . . .
5 Cleaning and maintenance.
6 Commissions . . . . .
7 Insurance . . . . . .
6 Legal and other professional fees.
9 Interest
10 Repairs
11 Taxes.
12 Utilities
13 Wages and salaries
14 Depreciation (see instructions).
15 Other (list) .. ....................
Jlll.I;I.1!...!:.l)J1J:i'.~!i...............
....................................
16 Tolal expenses for each property.
Add lines 3 through 15 . .. 16
Properties
2
A
27 819
B
c
o
3
4
5
6
7
6
9
10
11
12
13
14
3
2
2
15
10 .140
17
27.819
17 Total gross rents. Add gross rents from line 2, columns A through H .
18
10.140
16 Total expenses. Add total expenses from line 16, columns A through H .
19 Net gain (loss) from Form 4797, Part II, line 20, from the disposition of property from rental real
estate activities . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
20a Net Income (loss) from rental real estate activities from partnerships and fiduciaries in which this
partnership or S corporation Is a partner or beneficiary (from Schedule K-l) . . . .. 20a
b Identify below the partnerships or fiduciaries from which net income (loss) is shown on line 20a.
Attach a schedule if more space is needed:
(1) Name (2) Employer identification number
.................................................. ..................................................
.................................................. ..................................................
.................................................. ..................................................
21 Net income Ooss) from rental real estate activities. Combine lines 17 through 20a. Enter result
here and on Schedule K, line 2 ..................... 21
For Paperwork Reduction Ac1 Notice, see back 01 lorm. COt No, 10136Z
17.679
Form 8825 119931
Fonn 4562
Depreciation and Amortization
(Including Information on LIsted Property)
Altat"menl
S('Quen(o ,~O 67
IdentiFying number
0"'11 tIn 1!:\4!).017]
~@93
o.oN1J'T1-"1 011"'. 'r...~
1"1.....1 n.~enue S",,-ce
NamO(s) shOwn on reM"
... Soe soparalo Instructions.
~ Atlllch thl. lonn to your rolum.
Wra " Music House rartnershi 23-1733868
Business or activIty to WhICh this lonn relates
Commercial rental
ImI Election To Expense Certain Tangible Property (Section 179) (Note: If you have any "Lisfcd Property,"
com lele Part V before au corn lete Part I.)
1 Maximum dollar limitation (If an enterpnse zone business, see instructions.) . . . .. 1 S; 'I , 5 a a
2 Total cost of section 179 property placed in service during the tax year (see instructions) . 2
3 Threshold cost of section 179 property before reduction in limitation. . . . . . .. 3 S 2 a a a a a
4 Reduction in limitation. Subtract line 3 from line 2, but do not enter less than -0- 4
5 Dollar limitation for tax year. Subtract line 4 from line 1, but do not enter less than -0-. (If
married filin separate I , see instructions.) . . . . . . . . 5
(e) Descnpllon 01 propert'1 (b) Cost (e) Erected COSI
6
7 Usted property. Enter amount from line 26. . . . . . . . .. 7
8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7
9 Tentative deduction. Enter the smaller of line 5 or line 8 . . . . . . . . . .
10 Carryover of disallowed deduction from 1992 (see instructions). . . . . . . .
11 Taxable income limitation. Enter the smaller of taxable income or line 5 (see instructions) .
12 Section 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11 .
13 Ca over of disallowed deduction to 1994. Add lines 9 and 10, less line 12.. 13
Note: Do not use Part II or Part III below for listed property (automobiles. certain other vehicfes. cellular lelephones,
certain computers, or property used for entertainment, rl/Cf'flDtj~. Of;<JR1ass~t). fnstead. use Part V for listed property.
ImIII MACRS Depreciation For Assets Pla~~~O!i:;Y During Your 1993 Tax Year (Do Not Include
Listed Property)
(b) Month and (el BaSIS for depreciatIon (d) Recovery
year placed in (businesslinvestment use ~
ser\l1ce on -see instructions) ,.,... "^"
14 General Depreciation System (GDS) (see instructions):
a 3-year property
b S-year property
c 7- ear property
d 1 a.year property
e lS.year property
f 20.year prope
9 Residential rental
ro e
h Nonresidential real
ro e
15 Alternative Depreciation System (ADS) (see instructions):
a Class life
b 12-year
c 4a.year
8
9
10
11
12
(a) Classification of property
S/L
S/L
SIL
S/L
27.5 rs.
27.5yrs.
15.0 yrs.
MM
MM
HH
folio!
13
1,050
10/93
MM
SIL
S/L
S/L
12 rs.
40 yrs.
DllIDIII Other Depreciation (Do Not Include Listed Property)
16 GDS and ADS deductions for assets placed in service in tax years beginning before 1993 (see instructions)
17 Property subject to section 16B(~(1) election (see instructions) .
18 ACRS and other depreciation (see instructions). . . . . . . . . . . . . . . .
llmD1!i Summary
19 Usted property. Enter amount from line 2S. . . . . . . . . . . . . . . . . .
20 Total. Add deductions on line 12, lines 14 and IS in column (g), and lines 16 through 19. Enter here
and on the appropriate lines of your return. (Partnerships and S corporations-see instructions)
21 For assets shown above and placed in service during the current year, enter
the portion of the basis allributable to section 263A costs (see instructions) 21
For Paperwork Reduction Act Notlco1 see page 1 of tho separate InstnJctions. Cat. No. 12906N
16
17
18
600
2 062
19
20
2.675
Fonn 4562 (1993)
SCHEDULE K.l Partner's Share of Income, Credits, Deductions, etc.
(Form 1065) ~ Seo .epnrato In.trucllon..
[)epattmenl ollTle "..wry
m',,",11 n__1lf\Ue 5"""1(;8 For calendar year 1D93 or 'a. yel' beginning . 1093, .nd ending , HI
Portner's Identifying number ~ 526-111-5669 yortner.hlp's Identifying number ~ 23
Partner's name, addre.s, and ZIP code Partnerst'ip's narno. oddross, and ZIP code
Nana E. Wray WraYB NUBlc 1I00l!le l'artnerBh1p
421 A11endale Way 370 ~Iarket Street
Camp 11111, I'A 17011 Lemaync. I'A 1701.3
-"'"'"
OMU t~o 1 !I4S.0099
~@93
i 7331168
A This partner Is a m general partner 0 limited partner
o limited liability company member
B What type of enllty Is this partner? .. ).l)M.Y.W!I.'!,L..
c Is this partner a IXI domostic or a 0 foreign partner?
o Enter partner's percentage of' IQ D"or. Chang. Pi) End 01
. 01 termination ~ear
Profit sharing. . . . . . . ......... %~~:.R5H %
Loss sharing . : . . . ., ......... %4:ni'57i %
Ownership of capital . . . . ......... % .,....... %
E IRS Center whero partnership filed return: Philade1phi
J Analysis of partnor's capital account:
F Partner's share of liabilities (soo instructions):
Nonrecourso. . . . . .. $ ...........::9.7....
Oualified nonrecourso financing $ ...........::9.7....
Other . . . . . . . . ., $ ......~9.!:!??...
G Tax shelter registration number. .... ....~!J:...................
H Check here if this partnership is a publicly traded
partnership as defined in soctic~ 4S9(k)(2). . .. 0
Check applicable boxes: (1) o Final K-I (2) DAmended K-I
(.) Capl1al account at
begmnlng 01 year
(b) CapIlal contnbutnd
dunng year
(e) Partner's snare 01 hnes
3.4. and 7, Form 1065.
SChedule M.2
(0) Distributive share Item
-
Ul
Ul
o
...
-
G)
E
o
u
.E
Ordinary Income (loss) from trade or business activities
Net Income (loss) from rental real estate activities. .
Net income (loss) from other rental activities. . . .
Portfolio income (loss):
o Interesl
b Dividends. . . . .
c Royalties. . . . .
d Net short.term capitol gain (loss)
e Netlong.term capital gain (loss).
f Other portfolio Incomo Ooss) (attach schedule)
5 Guaranteed payments to partner . . . .
6 Nel gain (loss) under section 1231 (other than due 10 casually or thell)
7 Other income (loss) (attach schedule). . . . . . . .
8 Charitable contributions (see instructions) (attach schedule) .
g Secllon 179 expense deduction. . . . . . . . .
10 Deductions related to portfolio income (attach schedule) .
11 Other deductions (attach schedule). . . . . . . .
1
2
3
4
.:r:10P.
.U. _.
,
u Ul
::I C
'Co
G).-
C"
-
:iiu
.5 e! 124 Interest expense on investment debts. . . . . . . . .
"'..
g! 'E b (I) Investment income included on lines 40. 4b, 4c, and 4f above
c - (2) Investment expenses Included on line 10 above
130 Credit for income tax withheld . . . . . . .
b Low-Income housing credit:
(1) From secllon 42m(5) partnerships for property placed in
service before Ig90 . . . . . . . . . . . . . .
(2) Olher Ihan on line 13b(l) for property placed in service before 1990
(3) From secllon 42Ul(5) partnerships for property placed In
service oller 1ge9 . . . . . . . . . . . . . . .
(4) Other Ihan on line 13b(3) for property placed In service after 19S9
c Qualified rehabilitation expenditures related to rentel real estate
activilles (see Instructions) . . . . . . . . . . . .
d Credits (other than credits shown on lines 13b and 13c) related
to rental real estate activities (see instructions). . . .
e Credits related to other rental activities (see instructions) .
14 Other credits (see instructions) . . . . . . . . .
For Paperwork Reduction Act Notice, sea Instructions for Fonn 1065.
Ul
..
'5
l!!
o
(ef) WrlMrawals and
distnbutlons
Ie) Caprtal account at end 01
year (combine columns la)
ttlrou h IdJ)
(b) Amount
(e) 1040 file'" enter the
amounlln column (b) on:
} $co Partner's Instructions for
Schedule K.' {form 10651.
1
2
3
~
4a
4b
4c
4d
4e
41
5
6
7
8
9
10
11
7 577
1 109
Sch. e. Pan I, line 1
Sch. B. Pan II, I;ne 5
Sch. E. Pan I. line 4
Sch. O. line 5. col. (q or 19)
Sch, D, line 13, co!. (Q or (g)
[nl" Or! 'PIlIIU,OI. ~n. 01 )'nur rrturn
} See Partner's Instructions for
Schedulo K.' (Form 10651.
Enleron allllhU~ltltn.olyour relum
Sch. A, line 13 or 14
} See Partner's Instruct:ons for
Schedule K.1 (Form 1065).
124
bll) 1 109
b(2)
130
Form 4952. line I
} Sco Partner's Inslructlons lor
scnedule K.' (Form 1065),
See Partner's Instruchons for
Schedulo K.' (Form 1065),
Form 8586, line 5
,
13d
130
14
Cat. No. 11394R
I See Partner's InstruCllOns 10f
SChedulo K.1 (Form 1065).
Schedule K.l (Fonn 1065) 1993
SCHEDULE K-1
(Form 1065)
D"p.,tmflf1! 011". r...uurv
In'I'f".I1 n""'''I'' !->..........
---
Partner's Sl,..re of Income, Credits, DeduL...ms, etc.
... SeD 5cpnrnto InstruclJons.
For calendar VI.'II' 1003 or I.... )'lta, bl.'glnmnq
~@93
OMU ,~o 1!,4!>.OO'J'J
Portner's IdontifylngJ!.l!mber ~ 195-3H-9652__~___
Partnor's nmno. adcjms5, and ZIP code
NOlin W. OeStefnllo
221 G1elwlde I.alle
enml' 11111. l'A 17011
. 199:1, and ending , 19
Partnership's Identifying number ~ _n__J 733H6H
Partnorshlp's name, address, and ZIP codo
Wrayu HUHtc lIoUHl! Pnrtner:;hip
370 Market Street
l.emoYlIe. l'A 1701,3
A This portner IS 0 L~ general portner 0 IHolted portner
o limited liability company member
B Wh f I 7 ~ IlIdtviduo1
01 type 0 enllty IS t HS portner .................'....
C Is this portner 0 [)g domestic or 0 0 foreign portner?
D E ' f Ii) De'or" ch.lnge (II) End 01
nter partner s perccnlago 0 : 0' lermlnal,on 7fW
Profit shoring. . ......... 1l.28.,.~...1.1' %
Loss shanng . ......,.. %28,.~?1A %
Ownership of capitol ......... %28..5]14 %
E IRS Center where partnership tiled return: Ph ilndc 1 hi.
J Analysis of portner's capitol account:
F Portner's shore of liabilities (see Inslructlons):
Nonrecourse . $ .... ::Q:-..,....
Oualifled nonrecourso financing $ .........~Q:-.......
Other $ ....1). ,.Q~?.......
G Tax sheller registralion number. ~ ...........NI.~..........
H Check hero if this partnership is a publicly tradnd
partnership os definod in section 469(kI(2) 0
Check applicable boxes: (1) o Final K.1 (2) DAmended K.l
(al CaPital account al
beginning 01 year
leI PJrtncr's snare 01 lines
3,4, and 7, Form 1065,
Scl'100u1e "'.2
(dl W,thdrawals and
dlS1tlbullons
(e) Capital account at en!] 01
year {com tune COlumns (.11
throu h (dll
{bl Capital conlrlbuted
duw"lO year
(a) Dlslrlbutlve share Item
(c) 1040 filers enter the
amount In column (b) on:
} See Partner's Instructions lor
Sc"edule K.11Form t065).
(b) Amount
1
2 5 051
3
740
"<It
4d
4<l
41
5
6
7
8
9
10
11
120
b(l) 740
b(2)
130
-
III
III
o
::!.
GJ
E
o
u
.E
Ordinary income (loss) from trade or busmess activities
Net Income (loss) from rental real estate actlvilies
Net income (loss) Irom other renlal activities.
Portfolio income (lossl:
a Interest
b Dividends. . . .
c Royaities.
d Nel short.term capital gam (loss)
e Net long. term capital gain (loss).
I Other portfolio income (loss) (attach schedule)
5 Guaranteed payments to partner . . .
6 Nel gain (loss) under seCllon 1231 (other Ihan due to casualty or Ihelt)
7 Other income (loss) (attach schedule). . . .
8 Chantable conlnbutions (see 'nstructions) (attach schedule) .
9 Section 179 expense deduction. .
10 Deductions related to portfolio income (attach schedule) .
11 Other deductions lattach schedule). .
5Ch, A. line 13 or 14
} See Partner's Instructions for
Schl'dule K.l (Form 1065).
1
2
3
4
Seh. e, Partt, line 1
Sch, e, Part II. hne 5
5th, E. Part I, Iino 4
Sch. D. line 5, col. lQ or (g)
Sch, D, I;ne 13. co/. lQ or (g)
[r.!"OnIPPla~"I,n.olycurftluln
} See Partner's Instructions for
I Sch~du!e K.1 (Form 10651.
[mtron IOP'>U~!' tInt 01 YOu' ttlUII'I
r~(rp
'''; ......
,
U III
:l C
'tIO
GJ.-
e'"
'E
..-
ela
- ~ 120 Interest expense on investment debts. . . . .
....
~ 'E b (1) Investment income included on lines 4a. 4b, 4c. and 4f above
.5 - (2) Investment expenses included on line 10 abovo
130 Credit lor income tax withheld . .
b Low.income housing credit:
(1) From section 42U)(5) partnerships lor property placed In
servico before 1 g90
(2) Other than on line 13b(l) for property placed in service belore 1990
(3) From section 42U)(5) partnerships lor property placed in
service alter 1 ga9 . . . . . . . . . . . . . . .
(4) Olher than on line 13b(3) fer property placed in service alter 1989
c Oualified rehabililation expenditures related to rental real estate
activilies (see Instructions) . . . . .. ....
d Credits (other than credits shown on lines 13b and 13c) rei 01 cd
to rental real estate activities (see instructions). .
e Credils related to other rental activities (see instructions) .
14 Olher credits (see instructions). . . . . . .
For Paperwork Reduction Act Nollce, see Instructions for Form 1065.
Form 4952. line 1
} See Partner's InSlructions for
Schedule K.11Fonn 1065),
See Partner's Instructions for
Schedulo 1(.1 (Form 1065).
J!l
'6
l!!
o
Form 8586, line 5
13c
~
13d
13e
14
Coli. No. 11394R
) See P.1r1ner's Il"IstrucMns for
Schoou!e K.1tF"orm 1065).
Schedula K.l (Form 1065) 1993
--.,
Schedule K-l (Form 1065) 1993
(a) DI.lrlbullvo .haro Uem
e! 150
,. E b
"'...
u c
cn'ii, C
Net earnings (loss) from self. employment .
Gross farming or fishing incomo. .
Gross nonfarm incomo. . . . .
M
~ l!
.. ~
. -
M -
H
~ f
ii
~...
168 Depreciation adjustment on properly placod in service alter 1966
b Adjusted gain or loss . . . . .
c Depletion (other than 011 and gas) . . .
d (1) Gross income from Oil, gas, and geolhermal properlies
(2) Deducllons allocablo to Oil, gas, and geothermal properlies
e Othor ad'ustments and tax preference items (attach schedulo)
178 Typo 01 Income ~ .................................................
b Name of foreign counlry or U.S. possession ~ .................
c Total gross Income from sources outsido the Unitod Stalos (attach
schedulo). . . . . . . . .
d Total applicable deductions and losses (attach schedule).
e Total foreign taxes (chock one): ~ 0 Paid 0 Accrued.
I Reduction in taxes available for credit (attach schedule)
g Other forei n tax Information (attach schedule). .
en
CIl
)(
~
c
Cl
'f!
o
II.
16a
b
..
CIl 19
.c
-
0 20
21
22
8
b
23
Total expenditures to which a section Sg(e) election may apply
Type of expenditures" ...........................................
......................................................................
Tax.exempt interest income .
Other tax-exempt income. . . .
Nondeductible expenses. . . .
Recapture of low-income housing credit:
From section 42U1(S) partnerships . . .
Other than on line 22a. . . . .
t~OP'
.....:J .
.r-
(b) Amount
F'agG 2
(c) 1040 liIo", enter Iho
amount In column (bl on:
SCh. BE, SectIOn A 01 [)
} 500 P.u1ncr', InstructIOns rOl
Schodulo K.1jForm 10(5).
91
See Partnor's InstructIOns
lor SChoduto K.'
(Form 10051400
Instructions lor Form 6251.
17c
17d
17.
171
179
Form 11 16. check bOlles
. ),~ ,,,.. ~ ,
Form 1116, Part II
Form 1116. Part III
See Instructions for Form 1116.
) See Partner'S InstructIOns for
Schedulo K.llFonn 1065).
180
Form 1040. line 6b
} See Partner's Instructions for
Schedule K.' (Form 10651,
} Form B61', line B
Supplemental informallon required to be reported separately to each partner (attach additional schedules if more space is
needed):
..........................................................................................................................................
..........................................................................................................................................
..........................................................................................................................................
...........................................................................................................................................
c
.2
-
co
~
.2
.5
S
c
CIl
E
CIl
ii.
0.
::I
en
..........................................................................................................................................
..........................................................................................................................................
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,-,
OMI) Uo_ 154!d}{Y.l9
S~HEDULE K-1 Partner's Share of Income, Credits, Deductions, etc.
(Form 1 065) ~ 500 .eparnto In.tructlon..
D.p.at'lmeol 01111. rr.uury
."I....fI..1 n..Pfl... S"",,-clJ For calenda, VllIr 1093 or t.11I 'fur b&ginning . 199J. and ending . 19
Partnor's Idontlfylng number ~ 175-I.O-5HM. Partnorshl '5 Idontlfylng numbor ~ 4LJZJJllil.l!
Partner's name. nddrcss, and ZIP codo Partnership's namo, addross, and ZIP codo
Willinm A. Wray, Jr. Wrays Hu,;ic Housc Partncrship
91 Skylinc Drivc 370 Hnrkct Strcct
Hcchanicsburg, PA 17055 I.cmoync. PA 1701,3
~@93
A This partner is a []I general partner 0 limited partner
o limited liability company member
B What type of entity is this partner? ~ . ~.l)M VJ!!!l.n,L..
C Is this partner a rn domestic or a 0 foreign partner?
I NDc~tCCh~O OijE~ol
D Enter partner s percentage of: or lormln.lllOn yeJr
Profit sharing. . . ......... % 2/j..,:;.V,5%
Loss sharing . . . ......... 1l.2~...??!?%
Ownership of capital ......... %26..':;.7.\,5%
E IRS Center where partnership filed returnl'hiladel hia
J Analysis of partner's capital account,
F Partner's share of liabilities (see instructions):
Nonrecourse. . . . . ., $ ..........-:Q~......
Q J'f' d f" $ -D-
Ull 110 nonrecourse Inanclng ....................
Other . . . . . . . . .. $ ....P&~L...
G Tax shelter registration number.~ .. .....Nf.~................
H Check hore if this partnership is a publicly traded
partnership as defined in section 469Ik)(2). . .. 0
Check applicable boxes: (1) o Final K-l (21 o Amended K-l
(a) Capital account at
be9lnnlOg 01 year
(b) Capltoll contributed
dunng yoar
(e) Partner's Sh3to 01 hnes
3.4, and 7. Form 1065.
Schedule M.2
(cQ Withdrawals and
dis1nbutlons
Ie) Capital account al end 01
vear (combine columns (3)
throu h ldll
(01 OistrtbuUve .hare Item
(b) Amount
(e) 1040 fliers enter the
amount In column (b) on:
} See Partner's Instructions for
Schedule K.l (Form 1065),
iij'
III
o
::!.
Ql
E
o
U
.5
1 Ordinary income (loss) from trade or business activities
2 Net income (loss) from rental real estate activities
3 Net income (loss) from other rental activities.
4 Portfolio income (loss):
a Interest
b Dividends. . . . .
c Royalties. . . . .
d Net short-tenn capital gain (loss)
o Netlong.tenn capital gain (loss).
f Other portfolio income (loss) (attach schedule)
5 Guaranteed payments to partner . . . .
6 Net gain (loss) under section 1231 (other than due to casualty or them
7 Other income (loss) (altach schedule). . . . . . . .
8 Charitable contributions (see instructions) (attach schedule) .
9 Section 179 expense deduction. . . . . . . . .
10 Deductions related to portfolio income (attach schedule) .
11 Other deductions (attach schedule). . . . . . . .
1
2
3
5 051
740
0"'0' ~":4b
. ..~
....
5ch, 8, Part I. line 1
Sch, 8, Pari II. line 5
Sch, E. Part I, line 4
Sch. 0, line 5. col. (Q or (g)
Sch, 0, line 13. col. I~ or Ig)
(nt.fonlallhubl.lln.otYCllfrtlllrn
} See Partner's Instructions for
Schedule K.l (Form t065).
[nler on l~atlUt::!.lln. ot 'rOllf r.Mn
4d
4e
41
5
6
7
8
g
10
11
Sch. A, line t3 or 14
} See Partner's Inslructlons for
Schedule K.l (Form 1065).
,
UIIl
:Ie
'Co
Ql'-
e-
~'t;
.s l!! 120 Interest expense on investment debts. . . . . . . . .
..'"
!l! 'E b (1) Investment income included on lines 4a. 4b, 4c, and 41 above
.5 - (2) Investment expenses included on line 10 above
130 Credit for income tax withheld . . .
b Low.income housing credit:
(1) From section 42U)(5) partnerships for property placed in
service before 1990 . . . . .. .......
(2) Other than en line 13b(!) for property placed in service belore 1990
(3) From section 42ij)(5) partnerships for property placed in
service alter 1969 . . . . . . . . . . . . . . .
(4) Other than on line 13b(3) lor property placed in service alter 1989
c Qualified rehabililation expenditures related to rental real estate
activities (see instructions) . . . . . . . . . . . .
d Credits (other than credits shown on lines 13b and 13c) related
to rental real estate activities (see instructions). . . .
o Credits related to other rental activities (see instructions) .
14 Other credits (see instructions). . . . . . . . .
For Paperwork Reduction Act Notice, see Instructions tor Form 1065.
12a
b(l) 740
b(2)
130
Form 4952, line 1
} See Partner's Instructions lor
Schedule K.' (Form 1065).
See Partner's Instructions for
Schedule K.l (Form 1065).
III
-
'6
e
o
1 See P.111nCf'S Instructions for
Schedule K.1 (Form 1065).
Schedule K-l (Fonn 1065) 1993
Form 8566, line 5
13d
130
14
Cat. No. 11394R
. .
. .
U.S. Partnership Return of Income
,.;-<, (/(--.~'\ rT~"'j['\/7
II. )! <:::Y '1
,\ , \ \ ! J IJ
.: / OMDNO 1545
Fa"" 1 065
OIpat1mMt Olltle "...ury
Inlemal Rroenu. s.....,l(.
For calendlf year 1m. or tu year bOQlnnlng ........ I 1002. and ending .......,. 18 ....
... See ad oruto Instructions.
~@92
o [mploy" Idlnllflcallon numbu
A PnnClp.1 buSIness IIC(lvlIV Us. the N..m", "f "II""""""
Rentnl IRS JP 23-17"Juotl uc:1..92 52!!
lab.l. IIM.\ (; NM';A ...RAY ETAl PTR
8 Pnnctp.\1 producl or SIMCO Olher.
Rentnl wi.., "kAY$ :'lu.il(' HOuSE
pl.... 37' i',\,,' ".'T .iT
C DUSlnoSS cOda numbor print v., -
6511 ortyp.. LEr'OY1\E
Q Check apphcabla boxe.: II) 0 Initial return
H Check accounting method: (1) 0 Cash
I Number of partners in this par1nership. . . .
L
I
.1
001"
PP'
(21 0 Final return
(2) ~ Accrual
P A 17043
(3) 0 Chango In addro.. (4) 0 Amended return
. (3~ ~ ~lh~r (~pe~ily~ ::):::::::::::::::::::::::::::::::::::
Caullon: Include only trade or business income and expensas on lines to through 22 below. 500 the Instructig,ns lor more In/ormation.
1 a Gross receipts or sales . . . . .
b Less returns and allowances. . . .
2 Cost of goods sold (Schedule A, line 8)
1a
1b
1c
2
..
E 3 Gross profit. Subtract line 2 from line 1 c .
8 4 Ordinary income Ooss) from other partnerships and fiduciaries (attach schedule)
.E 5 Net farm profit (loss) {attach Schedule F (Form 1040))
6 Nat gain (loss) from Form 4797, Part II, line 20. . . .
3
4
5
6
7 Other Incoma (loss) (see instructions) {aft
7
6
8 Total Income loss. Combine lines 3 I
~ 9a Salaries and wages (other than to partners).
i b Less jobs credit. . . . . . .
.. 10 Guaranteed payments to partners .
E
= 11 Repairs. .
S 12 Bad debts.
S 13 Rent. .
'Ii 14 Taxes . .
j 15 Interest. .
16a Depreciation (see instructions)
1 b Less depreciation reported on Schedule A and elsewhere on retum
~ 17 Depletion (Do not deduot 011 and ges depletion.)
~ 18 Retirement plans. etc.. .
::I 19 Employee ben6fit programs. . .
'C
CD
C
ga
9b
16a
16b
20
20 Other deductions (attach schedule)
. . . . . . . . . . .
. . . . . .
21 Total deductions. Add the amounts shown in the far ri ht column for lines 90 throu h 20. 21
22 Ordinary Income (loss) from trade or business activities. Subtract line 21 from line 8 .. 22
Under penal1ies of perJUry, I declare that I have examined tnis relum,lncluding accompanying schedules and statements. and to the beSt of my knowledge
and belief. tt Is tNI, correct, and complete, Declaration 01 preparer (other tnan general partner) Is based on all Infonna1ion of which preparer has any
knowledge.
Please
Sign
Here
lit..':<
"~Date
.'
~ ~i~nalure of general partner
Preparer's ....
signature ,;
Firm's name (or i t
YOU" ilseil.employedl ROC a e
and address St., eam
For Paparwork Raductlon Acl Notice, see page 1 or s.parate Instructions.
Check If
.."....ployed ~ 0
E.1.No. ~
ZIP code ~
Cet. No. 11390Z
Preparer's social secunty no,
178 : 38: 0954
23 :2031522
17011
Fe"" 1065 (1592)
Paid
Pre parer's
Use Onlv
PA
. .........-
. _ ..~~.~ _-~ll:"... ..,~'.
..........
.---.
Form 1065119921
m:mm!IlIJ Cost of Goods Sold
1
2
3
4
5
6
7
8
PaQft 2
1 Inventory at beginning of year . . . . . . . . .
2 Purchases less cost of items withdrawn for porsonal use
3 Cost of labor . . . . . . . . . . . . . . .
4 Additional section 253A costs (see instructions) (attacl. schedule)
5 Other costs (attach schedule).
6 Total. Add lines 1 through 5. . . . . . . . . . . . .
7 Inventory at end of year . . . . . . . . . . . . . .
8 Cost of goods sold. Subtract line 7 from line 6. Enter here and on page I, line 2 .
go Check all methods used for valuing closing inventory:
(I) 0 Cost
(11) 0 Lower of cost or market as described in Regulations section 1.471-4
(III) 0 Writedown of .subnormal. goods as described In Regulations section 1.471-2(c)
Ov) 0 Other (specify method used and attach explanation) ~.......................................................................
b Check this box if the UFO Inventory method was adopted this tax year for any goods ~I checked, attach Form 970) . ~ 0
c Do the rules of section 263A (tor property produced or acquired for resale) apply to the partnership? . . 0 Yes 0 No
d Was there any change in determining quantities, cost, or valuations between opening and closing Inventory? 0 Yes 0 No
If .Yes," al1ach explanation.
~
~ Other Information
1 Is this partnership a limited partnership? . CS @ [;.) ~
2 Are any partners in this partnership also partnerships? . . . . .
3 Is this partnership a partner In another partnership? . . . . .
4 Is this partnership subject to the consolidated audit procedures of sections 6221 through 6233? If .Yes," see
Designation of Tax Malters Partner below. . . . . . . . . . . . . . . . . . . . . . .
5 Does this partnership meet ALL THREE of the following requirements?
a The partnership's total receipts for the tax year were less than $250,000;
b The partnership's total assets at the end of the tax year were less than $250,000; AND
c Schedules K-l are filed with the return and furnished to the partners on or before the due date ~ncludlng
extensions) for the partnership return. I
If "Yes," the partnership is not required to complete Schedules L, M-l, and M-2; Item F on page 1 of Form
1065; or Item J on Schedule K-l . . . . . . . . . . . . . . . .
6 Does this partnership have any foreign partners? . . . . . . . . . . . . . . . . . . .
7 Is this partnership a publicly traded partnership as defined In section 469(\<)(2)? . . . . . . . . . .
8 Has this partnership filed, or Is it required to file, Form 8264, Application for Registration of a Tax Sheller?
9 At any time during calendar year 1992, did the partnership have an Interest In or a signature or other authority
over a financial account In a foreign country (such as a bank account, securities account, or other financial
account)? (See the instructions for exceptions and filing requirements for form TO F 90-22.1.) If .Yes," enter
the name of the foreign country. ~ ......................................................................................
10 Was the partnership the grantor of, or transferor to, a foreign trust that existed during the current tax year,
whether or not the partnership or any partner has any beneficial Interest In It? If .Yes," you may have to file
Forms 3520, 3520-A, or 926. . . . . . . . . . . . . . . . . . . . . . . . . . . .
11 Was there a distribution of property or a transfer (e.g., by sale or death) of a partnership Interest during the tax
year? If "Yes," you may elect to adjust the basis of the partnership's assets under section 754 by al1achlng
the statement described under ElectJons on page 5 of the Instructions
12 Was this partnership In operation at the end of 1992? . . . . . .
13 How man months In 1992 was this artnershlp activel 0 erated? ~
Designation of Tax Matters Partner (See instructions.)
Enter below the general partner designated as the tax mal1ers partner (TMP) for the tax year of this retum:
. . . . . . . . .
12
Name of ...
designated TMP ,.
Address of 110..
designated TMP ,.
Identifying' '...
number of TMP ,.
Ye. No
X
X
X
X
X
X
X
X
X
-,
----
Form 1065 I' 99i'1
P'QO 3
Schedule K ., ., ., ,
(a) Olatrlbutlva ahore Itema (b) Totol omount
1 Ordinary ,"como (loss) from trodo or businoss activities (pogo I, IIno 22) 1
2 Not incomo Ooss) 'rom rentol roal estata activities (attach Form 882~) . ( 2 21, ,901
'1 ~
3a Gross incomo 'rom other rent at activities . . . . . . .. 3. T ~
b Expensos 'rom other rontal activities(aftach schedule) . 1 3b I
i o Net incomo (loss) 'rom other rental activities. Subtroct lino 3b from lino 30 30
0 4 Ponfolio incomo (loss) (seo instructions): 0 Interest incomo 40 4.540
c:!. b Dividend incomo . 4b
Ql o Royalty income 40
E
0 d Net shon.term capital gain (loss) (altach Schedulo D (Form 1065)) 4d
u
oS e Netlong.term capital gain (loss) (attach Schedule D (Form 1065)) 4e
f Olher ponfolio Income Ooss) (attach schodu/e) ~41
5 Guaranteed payments to partners 5
6 Net gain (loss) under section 1231 (other than due to casualty or thell) (altach Form 4797) 6
7 Other Income Ooss) (altach schedule) 7
, 8 Charitable contributions (see Instructions) (attach schedule) 6
u
::J.. 9 Section 179 expense deduction (attach Form 4562). ~. 9
'tic
Qlo 10 Deductions related to portfolio Income (seo instructions) Otemlze) 10
Q:o:: 11 Other deductions taltach schedule!. . . . . . . . . . 11
, 1;; 12a Interest expense on Investment debts . 12a
ii-e
> ii~ b (1) Investment Income Included on lines 4a through 4f above 2b 1 4.540
cEc (2) Investment expenses Included on line 10 above. . . . 2bf2
13a Credit for Income tax withheld . 13e
b Low.income housing credit (see Instruct~~~ 0
(1) From partnerships to which section 42(1) ieGr ro a d In service before 1990 3b 1
.. (2) Other than on line 13b(l) for property p ace I service be ora 1990 . . . . . 3b 2
~ (3) From partnerships to which section 420)(5) applies for property placed In service efter 1989 3b 3
(4) Other lhan on line 13b(3) for property placed In service after 19S9 . 3b 4
(J
o Qualified rehabilitation expenditures related to rental real estate activities (attach Form 3468) 130
d Credits (other than credits shown on lines 13b and 13c) related to rental real estate activities (see Instructions) 13d
e Credits related to other rental activities (see Instructions) 13e
14 Other credits (see Instructions) 14
, 150 Net eamlngs (loss) from self. employment . 16a
r;
,-- b Gross larming or fishing Income. 151>
_'u, ,
GiEIU
"".. e c Gross nonfarm Income. 15c
..... 160 Depreciation adjustment on property placed In service aller 1986 16a 686
c"
"c b Adjusted gain or loss 16b
.!!~'"
50!! e c Depletion (other than 011 and gas) . 16c
e....
~- d (1) Gross Income from oil, 9as, and geothermal propenles 6d 1
,.a..-
.... (2) Deductions allocable to oil, gas, and geothermal propenles . 6d 2
;;o~
oc a Other adiustments and tax preference items (attach schedule) 16e
.. 170 Type 01 income ~ ................. b Forolgn country or U.S. possession ~ ................
Ql
>C C Total gross Income from sources outside the United Stetes (attach schedule). 170
{!.
c d Total applicable deductions and losses (altach schedule) . 17d
Cl e Totallorelgn taxes (check one): ~ 0 Paid 0 A~crued 170
'f! I Reduction In taxes available for credit (attach schedule) 171
& 9 Other lorelon tax Information (altach schedule) . . . 179
180 Total expenditures to which 3 section 59(e) election may epply 18a
~ b Type of expenditures ~............................................................................
g 19 Tax.exemptlnterestlncome . . 19
20 Other tax.exempt Income . . . .. .. . 20
21 Nondeductible expenses . . . . . . . , . . , . , . . . . . . . . . ~
22 Other Items and amounts reQuired to be reported separatelv to partneri 'see Instructions I tallach schedule)
230 Income Ooss). Combine lines 1 through 7 In column (b). From the result, subtrect the sum of
.. lines S through 120. 17e, and 18a . . . . . . . . . . . . . . . . . . . 23. 29,44
]. b Analysis by type (0) Corporate (b) Individual (c) Partnerohlp (d) exempt (0) NomineelOlher
co of panner. I. Acllve II. Possivo organIzation
ci (1) General partners L~,441
,,, li"'"t4ri ....,.....a~
Partners' Sharos of Income Crodlts Doductlons Etc
Fcxm
4562
Dbt'reciatlon and Amortization
(Including Information on Listed Property)
D-pll1ment of I". T,."ury
Intemal n~~.
Name(sl1hO'hn on rotum
Wra s Music House Partnership
~ Attach thl. 10m to your return.
.. See separate Instructions.
OMS t~o, 1S45~172
~@92
AnachmflOl
SeQuenco No. 67
IdenUfylng number
23-1733868
Busmess at actIVity to whlCtllhls form relates
Commercial rental
Election To Expense Certain Tangible Property (Section 179) (Noto: If you have any "Usted Property."
com fete Part V before au com lete Part I.
1 Maximum dollar limitation (see instructions) . . . . . . . . . . . . . . . .
2 Total cost of section 179 property placed in service during the tax year (see instructions) .
3 Threshold cost of section 179 property before reduction in limitation. . . . . . .
4 Reduction in limitation. Subtract line 3 from line 2, but do not enter less than -0- . . .
S Dollar limitation for tax ear. Subtract line 4 from line 1. but do not enter less than -0-
(e) DescriptIon 01 property (b) Cost Ie) Eloclod cost
6
1
2
3
4
5
510,000
5200 000
II
7 Usted property. Enter amount from line 26. . . . . . . . 7
B Tot.al elected cost of section 179 property. Add amounts in column (e). lines 6 and 7 . ~
9 Tentative deduction. Enter the smaller of line 5 or line B . . . . . . . . . .
10 Carryover of disallowed deduction from 1991 (see instructions). . . . . . . .
11 Taxable income limitation. Enter the smaller of taxable income or line 5 (see instructions) .
12 Section 179 expense deduction. Add lines 9 and 10, but do not enter mora than line 11 .
13 C over of disallowed deduction to 1993. Add line nd less line 12 ~ 13
Note: Do not use Pari 1/ or Part /II below for autom b' e , c ol1le les, cel/ular telephones, computers, or
properly used for entertainment, recreetion, or amus pe Insteed, use Pert V for fisted properly.
MACRS Depreciation For Assets Placed In Service ONLY During Your 1992 Tax Year (00 Not Include
Listed Pro erty
16 GDS and ADS deductions for assets placed In service In tax years beginning before 1992 (see
Instructions). . . . . . . . . . . . . . . . . . 16
17 Property subject to section 16B(n(1) election (see Instructions). . . . . . . . .. 17
16 ACRS and other de reclatlon see instructions . . . . . . . . . . . . . . ., 18
ImIDi!I Summary
19 Usted property. Enter amount from line 25. . . . . . . . . . . . . . . . ., 19
20 Total. Add deductions on line 12, lines 14 and 151n column (g), and lines 16 through 19. Enter here
and on the appropriate lines of your retum. (Partnerships and S corporatlons-see instructions
21 For assets shown above and placed in service during the current year, enter
the ortion of the basis at1ributable to section 263A costs (see instructions) , 21
For Peporwork Roductlon Act Notice, seo pogo 1 ot the separate InstnJctlon.. Cat. No. 12906N
(el) Recove<y
period
14
a
b
c
d
e
f
9
27.5 rs.
27.5 rs.
31.5 rs.
31.5 rs.
MM
MM
MM
HH
h
2277
15
a
b 12 rs.
40 rs.
Iil!IDIII Other Depreciation (Do Not Include Listed Property)
MM
6
9
10
11
12
S/L
S/L
S/L
S/L
45
S/L
S/L
S/L
1.001
2.004
Form 4562 (1992)
Fonn
8825
.-...,
Rental Real Estate' Income and Expenses of a
Partnership or an 5 Corporation
~ SeD Instuctlons on back.
~ Atlach to Fonn 1065 or Fonn 1120S.
~@92
OMS No, 1545.1186
Department of I". 1'1....~
lntlmjl Revenue S8f\lce
NlII110
Employer Identifleatlon numtMr
Wrnys Music House Partnership 23 i 1733868
Show the kind and location of each property. See page 2 for additional properties.
!:.9JlllQ\!.\,.<; ~(lJ.. J.'.~.l).~\lJ....................................................................................................................
370 Market Street, Lemyne, PA 17043
1
A
B
.................................................................................................................................................
c
.................................................................................................................................................
o
...................................................................................................................".............................
Properties
Rental Real Estate Income
2 Gross rents . 2
Rental Real Estate Expenses
3 Advertising 3
4 Auto and travel. 4
5 Cleaning and maintenance. 5
6 Commissions 6
7 Insurance. . 7
8 Legal and other professional fees . 8
9 Interest 9
10 Repairs 10
11 Taxes . 11
12 Utilities 12
13 Wages and salaries 13
14 Depreciation (see instructions). 14
15 Other Olst) .. ....................
. ...~!!?~..~~.l!::f;.~.!!...... ...... 15
....................................
16 Total expenses for each property.
Add lines 3 through 15 16
A
33,353
B
c
o
'.
3,050
3
8,452
17 Total gross rents. Add gross rents from line 2. columns A through H .
17
33,353
18 Total expenses. Add total expenses from line 16, columns A through H .
18
8,452
19 Net gain (loss) from Form 4797, Part II, line 20, from the disposition of property from rental real
estate activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
20a Net Incomo Ooss) from rental real estate activities from partnerships and fiduciaries in which this
partnership or S corporation Is a partner or beneficiary (from Schedule K-l) . . . . .
b Identify below the partnerships or fiduciaries from which net income (loss) Is shown on line 20a.
Attach a schedule If more space is needed:
(1) Name (2) Employer identification number
................................................... ..................................................
.................................................. ..................................................
.
.................................................. ..................................................
21 Net Income (loss) from rental real estate activities. Combine lines 17 through 20a. Enter result
here and on Schedule K. line 2 .....................
21
24,901
Form 8825 (19921
For Paperwork Reduction Act Notice. see back 01 fann.
Cat No. 10136Z
-.,
SCHEDULE K-1 Partner's Share of Income, Credits, Deductions, Etc. OMD No. 1545-0099
(Fonn 1065) ~ See leperalAlln.tnJclJon.. ~@92
~ of me Tr....,
k\t~1 Rev.".". S,fYlU For calendl' Y'" 1m or U.I y..r beginning ,1m.nd ending . 10
Portnor's Idontl n numbor ~ 526-18-5669 Portnorahl 'oldentJ In numbor ~ 23-1733868
Portner's nomo, oddross, and ZIP code Partnership's name, address, and ZIP codo
Nana E. Wrny Wrny's Music lIouse Partnership
421 Allendnle Way 370 Mnrket Street
Cnmp lIi11. PA 17011 I.emoyne, I'A 17043
A
B
Is this partner a general partner? . . 1XJ Yes 0 No
Partner's share of liabilities (soo Instructions):
Nonrecourse. . . . . .. .$ ......::-.0.-:.......,
Qualified nonrecourse financing. .$ ......::-.0.-:.......
Other. . . . . . . . . . .$ ..~]...O.I.L.....,
What type of entity Is this partner? ... ..JmH.v.tll\l.IJ,l..
Is this partner a 1XJ domestic or a 0 lorelgn partner?
IRS Center where partnership filed return:
P ilnde 1 in
F
Enter partner's porcentage 01: l1J Do'ooo Change OQ End 01
or termmatlon 'tear
Profit sharing. . . . ......... %4Z.,857.1%
Loss sharing . . . . . . . ......... 1l.4~&~?11l.
Ownership 01 capital . . . . ......... 1l.4.~&~?11l.
Tax sheller registration number. .. ~ ..N{.~...................
lYpe of tax shelter" .................N{.~....................
Check here If this partnership Is a publicly traded
partnership as defined In section 469(k)(2) . . . . 0
Check licable boxes: 1 0 Final K-l 2 0 Amended K-l
c
o
E
G(I)
(2)
H
J Anolvsls 01 Dortnor's co ltal account:
II) CapitallCCOUnl at (bl CapIUl contnbu1o<l (c) Partnor's snare of 'I"OS (d) WIthdrawal. and (.) capital accoun1 at end 01
beglMlnQ ot year dunng year 3,4, and 7. Form 1065. dlstnbutlons )'Oat (com~~, columns I"
Schedule M-2 lhto h (dJ)
( )
(e) OI.tr1butlve oh.oro hem (b) Amount (e) 1040 fliers enter the
amount In column (b) on:
1 Ordinary Income ~oss) from trade or businoss octlvitlos 1
2 Not Income ~oss) from rental real ostato activities . 2 In ~.7? } (See p...,... ...........,. ..)
Scn<<'UI. 1(.1 (Fonn 1(65).
3 Net Income ~oss) from other rental activities. 3
'ii 4 Portfolio Income ~oss): (S@ 0 1.946
., Interost Sch. B, Part I, i1ne 1
0 a
c:!. b Dividends. 4b Sch. B, Part II, i1ne 5
.
CD c Royahles . 4c Sch. E, Part I, line 4
E
0 d Net short.torm capital gain ~oss) 4d 5ch. 0, line 5, co!. (Q or (g)
u Net long.term capital gain ~oss). 4a 5ch. 0, line 13, co!. (Q er (g)
.5 .
1 Other portfolio income ~oss) (attach schedule) 41 (Enteron Illplablellnl 01 your retum I
5 Guaranteed payments to partner . . . . 5 }(SeeP...,......"""'""'..)
8 Net gain (loss) under section 1231 (other than due to casualty or theh) 8 Schedul. K.1 (form 1(65).
7 Other Income Oossl !ottach schedule). . . . . . . . . 7 IEntrr onallllliabte line 01 ytIur ftrum I
. 8 Charitable contributions (see Instructions) (attach schedule) . 8 Sch. A, line 13 or 14
u.,
:Ie 9 Section 179 exponse deduction. 9
i.2 } (See P......'. ,.._"'" ,.. )
C" 10 Deductions relat~~. to portfolio Income (attach schedule) . 10 SclIedul. K.l (Fcml1065).
11 Other deductions ettach schedule). . . . . . . . 11
-
c_
....
e.. 128 Interest expense on Investment debts. 128 Form 4952, line 1
'tit bIll -,----OJ.Z
..- b (1) Investment Income Included on lines 40 through 41 above } (See Port""', !no_ ,.. )
>c
,5- i2i Investment exoenses Included on lino 10 above . . . bl21 Sdledul. K.l (form 1065).
130 Credit for Income tax w~hheld 13a (S" p~'. INltroctJonI fof )
&hodule )(.1 (form 10651,
b Low.lncome housing credit:
(1) From section 42(j)(5) partnerships for property placed In bIll
service before 1 g90
(2) Other than on line 13b(1) lor properly placed In service before t990 ~ Form 8586, line 5
.!l (3) From section 42(j)(5) partnerships lor property placed In
'6 service after t 9ag . 1,131
! (4) Other than on line 13b(3) for properly placed In service alter 19S9 ~
"
c QualiOed rohabllitatlon expendhures related to rental real estate
octlvltlos (see Instructions) 13c
d Cred~S (other than credits shown on lines 13b and 13c) rolated ~ ) (~-'-.I
to rental real estate activities (see Instructions) . 13d SUoedul. )(.1 (fonn 10651,
. Credits related to other rental activities (see Instructions) . 138
14 Other credits (see Instructions). . . . . . . . . 14
For Paperwork ReductJon Act NotIce, see InstrucUons:or Form 1065.
Cat No. 11394R
Schedule K.l (Fonn 1065) 1992
Scnedule K.' (rorm 1065) 1992
(b) Amounl
Pig. 2
(0) 1040 nil" Int.r tho
.mounlln column (b) on:
Sch. SE, Section A or B
} (Goo P.rt".... -...... '0< )
SchedYlet<.I(F0l'm1~),
(0' DloltlbuU.o Ih.ra Itom
e li lS. Net earnings ~oss) from self.employment .
~ ~ b Gross farming or fishing Income. . . .
en a. c Gross nonfarm Income. . . . , . .
~ II
'1:1
. -
en
p
~~
..
Ql
)(
~
c
CI
2!
tf
lS. Depreciation edjustment on property placed in seNice after 1986
b Adjusted gain or loss . , , . . . . . . . . .
c Depletion (other than oil and gas) . . . . . . . . . .
d (1) Gross Incoma from oil, gas, and geothermal properties . .
(2) Deductions ailocable to oil, gas, and geothermal properties
. Other ad ustments and lax reference Items (attach schedula)
17. Type of Income .. .................................................
b Neme of foreign country or U.S. possession" .................
c Total gross Income from sources outside the Uniled States (attach
schedula). . . . . . . . . . . . . . . ,
d Total applicable deductions and losses (attach schedula).
. Total foreign taxes (check one): .. 0 Paid 0 Accrued ,
f Reduction In taxes available for credit (attach schedule)
Other lorel n lax Information (attach schedule . . . .
294
(See Partner's
Inslructions for
Schedule K.l
(Form 1065) and
Instructions for
Form 6251.)
lea Total expenditures to which a section 59(e) election may apply
b Type 01 expenditures" ...........................................
Form 1116, Check boxes
I 'om" ". P""
Form 1116, Part \I
Form 1116, Part III
See InstruC1iens lor Ferm 1116,
I See Partner's
Instructions for
Schedule K.l
(Form 1065).
Form 1040, line 8b
} (GooP..-"_'O<)
~ K.1 (Form 106!).
..
Ql
8
.........................................................................
Tax.exempllnterestlncome .
Other tax.exemptlncome. , . . . . (";:J@'m
NondeduC1ible expenses. . , . . . \t:l .0.' t..r--.
Recapture of low-Income housing credit:
From section 420)(5) partnerships . . . . . . . . . .
Other than on line 22a. . . . . . . . . . . . . .
Supplemental Information required to be reported separately to each partner (attach addiUonal schedules il more space Is
needed):
19
20
21
22
a
b
23
} Form 861',lIno 8
.............................................................................................................................................
..........................................................................................................................................
...............................................................................................................................................
...............................................................................................................................................
c
o
~
E
E
E
c
Ql
E
Ql
ii.
a.
:J
rn
...........................................................................................................................................
............................................................................................................................................,
...........................................................................................................................................
...........................................................................................................................................
..........................................................................................................................................,
...........................................................................................................................................,
..........................................................................................................................................,
...........................................................................................................................................
.............................................................................................................................................
..........................................................................................................................................
-- -----
SCHEDULE K-1 Partner's Sha. ~ of Income,' Credits, Deductl_.ls, Etc. OMS flo 1545.Q099
(Form 1065) ~ See IOparDla InltnJc1Ions. ~@92
o.panrr.". a' the Y,...\sy
'"'.mal R...~. Sfl'"o'1(:. For calend.r .,..r 1992 or tal 't,.r beginning . 1m. and ending . '8
PorlnDr'sldenll in number ~ 195-3t1-9659 Portnershlp'sldenll In number ~ 23-1733H6t1
Portner's namo, address, and ZIP code Portnershlp's nome, address, and ZIP code
Nana W. DeStefano Wray's Husie HOllse Partnership
221 Glenoide Lane 370 Market Street
Camp lIill. PA 17011 Lemayne. PA 17043
Enter partner's percentage of: Q) Ooloro enanoo QQ End 01
or lermlnalion 5'11
Profit sharing. . . ......... %2!\:.....1.4Il,
Loss sharing. . . .. ......... %2!\:.~.U.4%
Ownership of capital .. ......... %2!\:.~.U.4Il,
Tax shelter registration number." .......I!/.~..............,
TYpe of tax shelter" ............~........I!I.~..............
Check here If this partnership is a publicly traded
partnership as defined In section 469(\<)(2) . . . . 0
Check licable boxes: 1 0 Rnal K-l 2 0 Amended K-l
A
8
Is this partner a general partner? . IXl Yes 0 No
Partner's share of liabilities (see instructions):
Nonrecourse. . . . . .. . $ .....:-.Q::..........
Qualified nonrecourse financing . . $ .....:-.Q::..........
Oth6r. . . . . . . . . . .$ ..!5.,.~f!~.........
What type 01 entity is this partner?.. ..~n~Jx~.~.l!f\~.
Is this partner a rn domestic or a 0 foreign partner?
IRS Center where partnership filed return:
Philadel hia
Anel sls of partner's co Ital account:
(I) Capital account at (b) Capital contnbuted
beginning of year during year
G(11
i2)
H
F
C
D
E
J
(el Pannor's snare of IIMas
3.4. and 7, Form 1065.
Schedule M.2
(e) DlstrlbuUve shs,., Itsm
...
..
o
d.
Il
E
o
u
.5
1 Ordinary Income Ooss) from trade or busine~ activilles
2 Net income Ooss) from rental real estate ectivilles. .
3 Net income Ooss) from other rental activities.
4 Portfolio Income (loss):
8 Interest
b Dividends. . . . .
c Royalties. . . . .
d Net short-tenn capital gain (loss)
e Net long.tenn capital gain Ooss).
I Other portfolio income (loss) (attach schedule)
5 Guaranteed payments to partner . . .. .
6 Net gain (loss) under section 1231 (ather than due to casualty or thelt)
7 Other Income Qoss) (attach schedule). . . . . . . .
6 Charitable contributions (see instructions) (attach schedule) .
9 Section 179 expense deduction. . . . . . . . .
10 Deductions related to portfolio Income (attach schedule) .
11 Other deductions (attach schedule. . . . . . . .
,
u ..
:Ie
'g .9
c"
'E
.,"
el.'l
_ .. 124 Interest expense on Investment debts. . . . . . . .
...,
~ S b (1) Investment Income Included on lines 4a through 41 above
(2) Investment ex enses Included on line 10 above
138 Credit for Incoma tax withheld . . .
b Low.income houSing credit:
(1) From section 420)(5) partnerships for property placed in
service before 1990 . . . . .. .......
(2) Other than on line 13b(1) lor properly placed In smice before 1990
J!l (3) From section 42Ul(5) partnerships for property placed In
-e service after 19B9 . . . . . . . . . . . . . . .
: (4) Olher than on line 13b(3) lor properly placed in service alter 19S9
c Qualified rehabilitation expenditures related to rental real estate
activities (see Instructions) . . . . . . . . . . . .
d Credits (other than credits shown on lines 13b and 13c) related
to rental real estate activities (see Instructions). . . .
a Credits related to other rental activities (see instructions) .
14 Other credits see instructions). . . . . . . . .
For Paperworl< Roduc1lon Act NotlcD, .oa In.tnJc1Ionslor Fonn 1065.
lei} Wi1l1drawals and
dlstnbutJons
(b) Amount
,7.114
1.297
4b
4c
4d
4e
41
5
6
7
B
9
10
11
1.297
13d
138
14
Cat. No, 11394R
(e) caPital account at end of
yeAt (combIne columns (aJ
lhrougn Idll
(c) 1040 mars antsr the
amount In column (b) on:
} (Soo P".".... ""_.,,, r,,)
SehedUI K.l (form 1~.
Sch. B, Part I, line 1
Sch. 8, Part If, line 5
Sch. E, Part I, line 4
Sch. 0, line 5, col. (II or (g)
Sch. 0, line 13, col. (I) or (g)
(Enter on I:lphcabl'line clytlur rtwm)
} ( s.. PartrI<<"t 1".tn.lCtlona tot)
Sehed1JI K.l (Form 1065).
{Enlet on IDO'luble line 01 your retum)
Seh. A. line 13 or 14
} (~.:;::';':':: :r=;/") ,
Fonn 4952, line 1
} ( 5.. PaM.', InttNctlOnt lor )
ScheCIult K.1 (Form 1065).
(See Partl'ler', lnatru<:tlona fOt )
Schedule K.1 (Form 10&51.
Form 8586, line 5
] ( S.. P,",,,'. I",,,,,,,,,,,,, t" )
~ul. K.' (Form lOGS).
Schedule K-l (Fonn 1065) 1992
--
Schodule K.1 (Form 106511992
(a) DlstribuUva ah.ra Ilam
, -
E ~ 15. Net earnings (loss) 'rom sell.employment .
~ ~ b Gross 'arming or fishing income. . . .
en a. c Gross nonform income. . . . . . .
~ II
'II .
..=
tl H
il!
II.!!
-l:
::!
..
III
)(
{!
C
Cl
e
o
II.
18a
b
..
III 19
5 20
21
22
e
b
23
16. Depreciation adjustment on property placed In service otter '9SG
b Adjusted gain or loss . . . , . . . . . . . .
o Deplelion (other than oil and gas) . . . . . . . . . .
d (1) Gross Income from oil, gas, and geothermal properties . .
(2) Deductions allocable to oil, gas, and geothermal properties
8 Other ad ustments and tax preference items (aNach schedule)
170 Type 0' income ~ .................................................
b Name o"orelgn country or U.S. possession" .................
o Total gross income 'rom sources outsldelhe United States (attach
schedule). . . . . . . . . . . . . . . .
d Total applicable deductions and losses (aNach schedule) .
8 Total foreign taxes (check one): .. 0 Paid 0 Accrued .
f Reduction in taxes available for credit (aNach schedula) .
9 Other 'orel n tax Information (aNach schedule). . . .
Tolal expenditures to which a section 59(e) election may apply
Type of expenditures" ...........................................
......................................................................
"',
(b) Amount
PIO. 2
(cll040 filars antar the
amount In column (b) on:
Sch. SE, Section A or B
} ( SM P",noo', """"""'" '''' )
Sc.t1edu'. K.' (form 10MI
150
15b
15c
160
1Gb
16c
dll)
d(2)
160
196
(See Partner's
Instructions for
Schedule K.l
(Form 1065) and
Instructions for
Form 6251.)
Form 1116, Check boxes
-\ "'~ "'.. PO< 1
Form 1116, Part II
Form 1116, Part III
See Instruction. lor Ferm 1116,
I See Partner's
Instructions for
Schedule K.l
(Form 1065).
170
17d
178
171
17
18a
Form 1040, line 8b
} (SMP""""'-'''')
Sehedute t(., (form 1(65).
Tax.exemptlnterest Income. . . , . . . . . . , .
Other tax.exempt Income. . . . r:;:J@O'rDl'Nl.
Nondeductible expenses. . . . ~ - l..rr<. bl .
Recapture of low-Income housing credit:. ..;: \ (~ ,:J ~
From section 42m(5) partnerships . ';~ . '-7"" .
Other lhan on line 22a. . . . . . . . .
Supplemental Informalion required to be reported separately to each partner (aNach additional schedules if more space is
needed):
} Form 8611, line 8
..........................................................................................................................................
.........................................................................................................,................................
.........................................................................................................................................,
..........................................................................................................................................
...........................................................................................................................................
c
o
:;:
III
E
E
E
c
III
E
III
ii.
a.
:I
1/1
..........................................................................................................................................
.........................................................................................................................................,
..........................................................................................................................................
..........................................................................................................................................
.........................................................................................................................................,
..........................................................................................................................................
..........................................................................................................................................
..........................................................................................................................................
..........................................................................................................................................
"
SCHEDULE K~1 Partner's Share of Income, 'Credits, Deductluns, Etc.
(Form 1 065) ~ s.. aapornt. In.tnJcllons.
Oep&rtrMnt 01 tI'Il 1',Mau-y
1"'.mAI n....enu. s.t\I.u For ,.llnd., Yllr 1902 or In 'fllr b.glnnlng . 1m, Ind ending t 111
Partnor'sldontl In numbor ~ 1 ~-,.U-)tjl," Partnorshlp'sldontlfylng numbor ~ 2)-1 733t16t1
Part nor's namo, add ross, and ZIP codo Partnorshlp's namo, add ross, and ZIP codo
William A. Wray. Jr. Wray's Music House Partnership
91 Skyline Drive 370 Market Street
Mcchanicsburg, PA 17055 J.emoync, PA 17043
OMO No. 1545.()099
~@92
A
B
Is this partner a genoral partner? . rn Yes 0 No
Partner's share of liabilities (see instructions):
Nonrecourse. . . . . .. .$ ....,.....::-Q:-.....
Qualified nonrecourse financing . .$ ..........::!l:-.....
Other. . . . . . . . . . .$ ......~~.I.~!<.~.....
What type of entity is this partner? ... ....~.l}~tY;l;~.\H!~
Is this partner a 119 domestic or a 0 foreign partner?
IRS Center where partnership filed relurn:
Philadel hia
Anal sls of ortner's co Ital account:
Enter partner's percentage of.' ~I eotor. cn.ng. ~Il End of
or termlnallon 5731
Profit sharing. . . . ......... '*'2~:.....l.5%
Loss sharing. . . . . . . ......... ,*,2~...~.U.5%
O 'I 28.5715
wnershlp 0 capita . . . . ......... fA ......... %
Tax sheller registration number. ..# ........~/:..............
'TYpe of tax sheller" .......................~..~..............
Check hero If this partnership Is a publicly traded
partnership as defined In section 469(k)(2) . . . . 0
Chock a licabl6 boxes: 1 0 Final K.1 2 0 Amended K.l
F
C
D
E
G(l)
(2)
H
J
(el ponner's rJ\are 01 Unes
3. '. Ind 7. Form le65,
Schodule t.,4.2
(a) Capllal account 01
beginning ell 'foar
(bl CapllDl contrlbutod
. dunng 'feat
(0) Distributive ahere Ilem
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Gl
E
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.5
Ordinary Income (loss) Irom trade or business ~~ roJ
Net Income Ooss) from rental raal estate actlvit!Rb ~ Lr-"
Net Income Ooss) from other rental activilles .
PortfoliO Income Ooss):
8 Interest
b Dividends. . . . .
c Royallles. . . . .
d Net short.term capilal gain 0055)
e Net long.term capital gain (loss).
I Other portfolio Income Ooss) (attach schedule)
5 Guaranteed payments to partner . . . .
6 Net Qlin (loss) under section 1231 (other than due to casualty or the II)
7 Olher Income (loss) Buach schedule'. . . . . . . .
8 Charitable contributions (see Instructions) (attach schedule) .
9 Section 179 expense deduction. . . . . . . . .
10 Deductions relalad to portfolio income (eUach schedule) .
11 Other deductions (aNoch schedule'. . . . . . . .
1
2
3
4
,
u ..
::J C
'tIo
.,.-
C"
-
c
..-
e:3
_ _ 12a Interest expense on Investment debts. . . . . . . .
....
g! 'E b (1) Investment Income Included on lines 4a through 4f above
c - 2) Investment ex enses Included on line 10 above
138 Credit for Income tax withheld . . . .
b low.lncome houSing credit:
(1) From section 4201(5) partnerships lor proparty placed In
service before 1990 . . . . . . . . . . . . . .
(2) Other than on line 13b(t) for property placed In service before 1990
(3) From section 42r,~(5) partnerships for property placed In
service aftor 19S9 . . . . . . . . . . . . . . .
(4) Other than on line 13b(3) lor property placed In service aller 1989
c Oualined rehabilitation expenditures related to rental real estate
activities (see Instructions) . . . . . . . . . . . .
d Credils (other than credits shown on lines 13b and 13c) related
to rental real estate ectivilles (sae Instructions). . . .
e Credits related to other rental activities (see instructions) .
14 Other credits see instructions . . . . . . . . .
For Paperwork Raducllon Act Notice, see Instrucllon. for Form 1065.
..
..
'6
2!
(.)
lel) Withdrawal. oncl
dlstrlbuUons
(e) Capital Becounl at end 01
year (comblnl columns (I)
tnrough (dl)
(b) Amounl
Ie) 1040 fliers enter the
emountln column (b) on:
} (SM P........ In._ "")
$tl'ItdiJe K.1 (Form 1065).
7 115
4a
4b
4c
4d
4e
41
5
6
7
8
9
10
11
1.297
Sch. B, Part I, line 1
Sch. B, Part II, line 5
Sch. E, Part I, line 4
Sch. 0, line 5, col. (I) or (g)
Sch. 0, line 13, col. (I) or (g)
IEntlr on JPpficablllinl ot your mum.)
}'( SM P.",,,... InIlNC1lON ,"')
Sd\tdull K.' IForm lOGS}.
(EnlIrOn IPp1lcabl,Iinl or yoUfrttum.)
Sch. A, line 13 or 14
} (... P........ ,,,,'",etlON "")
SGNd\U K.1 (Form 1055).
12a
b(11 1.297
b(2)
130
Form 4952, line 1
} (s..P........,"'-"")
SctIeoule K.' (form 10651.
( s.. Partn.,'" InItrvc:t1ON1 for )
Schedule K.1 (Form 10651.
Form 8586, line 5
Cat. No. 11 :J94A
) (s..P""'....,"''"''''''''',..)
Wedull K.' (form 1065),
Schedule K.l (Form 1065) 1992
.-...
Schl'duto K.1 tFornl 10G~119lJ2
e5
,.e
'iji;'
"''ii.
Tax.excmpt Intcrest Income .
Olher tax-cxemptlncome. . . . . .
Nondeductible expenses. . . . . .
Recapture of low-Income housing credit:
From section 42(jJ(5) partnerships . . .
Other than on line 22a. . . . . . .
Supplemcntal Information required to be reportcd separately to each partner (attach addilionaJ schcdules if more spacc Is
necded): .
(D) Dlstrlbutlvo shoro Item
"
{!oil
., u
a _
~-
U ~
U t!
i~
~...
150 Net earnings (loss) 'rom self.cmploymcnt .
b Gross farming or fishing Income. . . .
e Gross nonfarm Income. . . . . . .
16a Dcprcciatlon adjustmenl on property placed In service elter 1986
b Adlustcd gain or loss . . . . . . . . . . . .
e Deplelion (other than oil and gas) . . . . . . ,
d (1) Gross Income 'rom oil, gas, and gcothermal propertlcs . .
(21 Deductions allocable to oil, gas, and geothermal propertics
o Olher ad'ustments and tax retercnce itcms (atlach schedule)
17a Type of Income" .................................................
b Name of foreign country or U.S. possession" .................
e Tolal gross Income from sources outside the United States (attach
schedule). . . . . . . . . . . . . . . .
d Total epplicable deductions and losses (attach schedule) .
o Total foreign taxcs (check one): .. 0 Paid 0 Accrued .
f Reducllon In taxes available for credit (attach schedule)
9 Olher forel n tax Information (attach schedu/c). . . .
13
><
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111
e
o
l&.
16a
b
..
GI 19
;;
0 20
21
22
a
b
23
Total cxpenditures to which a section 5g(e~~
Type of expcndlturcs .. ....................~.\g) .. .....
........................................................................
~-
lb) Amount
Pao. 2
(c) 1040 nlors onte, tho
emount In column (bl on:
Sch. SE, Section A or B
} ( foM Pan"_'. ImtNCtlOnI '01 )
Sdledul. K.llrorm 10651.
150
15b
15e
lGa
1Gb
10c
d(lI
d(2}
16e
196
(SeD Partner's
Instructions for
Schcdule K-l
(Form 1065) and
Instructions for
Fonn 6251.)
17e
17d
170
171
17g
Form 1116, Check boxes
-j "'~ "'". PM I
Fonn 1116, Part II
Fonn 1116, Part III
See Instructions for Ferm t 116,
I See Partner's
Instrucllons for
Schedule K-1
(Fonn 1065).
Form 1040, line 8b
} (SM.""""'''''''''''''''''')
Sched\lIe K.1 (form 1065).
} Fonn8611,line8
............................................................................................................................................
..............................................................................................................................................
............................................................................................................................................
..............................................................................................................................................
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....... .......... ~............""'" ............. ... ~. ..~............ ...~........~. ..... .~.....~. ... .~.. .~.. ..... .....~~ ...... ...... .....
..........................................................................................................................................
............ ...... ........ ... ............. ......... .... ..... ................... ~... ~..... ........ ..... ..... ...... ..... .......... .... ......
...................... ...................... ~............................. ~.................. ~................~...... ~. ~...... ~...........
..........................................................................................................................................
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..........................................................................................................................................
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, 01.\11 N.l, 1545'OQ..1J
Fo,m 1065
OCpJltlluml 01 lhd rllM~Urv
InlCIMJlllO\lClllltJ Sell/lCU
U.S. Partnership Return of Income
~@91
ror Ci,lol1dar yaM 1091. Dr IDa you, hnUll1l1lnu..."..,... 109', "nd ending.......". . I 19 ,.. .
~ SOU!W ;unlo lnslrucllnns.
L
o lmpla,., IdlnUUul10n numbrr
2j- 17 J :10 fl Il
t Otllo bu!olllO!oS r,1.lrloo
1/1/71
A fJllnc1p.llbuslncs5 act."",l.,.
HenLill
D P''''ClpJI ptoduct Of !lCr\ICO
Hcnt'i11
Uso tho
IRS
label.
Olt,cr-
wiso,
plea so
print
or type.
u~'''''''''' nu........h,"
JP 23-1733868 DEC91 S28
- HM A & NANA HRAY ETAL PTR
HRAYS MUSIC IIOUSE
370 MARKET.ST
LE~IOYNE
F 10t..1 'U,II UII 5~t{,,< 1~,tlll{I.o~U
1-
ft
001 -
ppS
C DUSlnoss codo number
6511
PA 170'.3 ~
(3) 0 Change In address (4) 0 Amended return
13~ ~ ~Ih~r (~PC~ily~ :::::::X::::::::::::::::::::::::::::
G Check applicable bo,es: (1) 0 Initial return
H Check accounting method: 11) 0 Ca.h
I Number 01 partners in (his partnership.
(2) 0
(2) []
F If\al return
Accrual
Caution: Include only trode or business income and e'penses ofl/ines la through 22 below. See Ihe instnuctions for more information.
~
1 a Gross receipts or sales
b Less returns and allowances.
2 Cost of goods sold (Schedule A, line 8)
10
lb
QI
E 3 Gross profit. Subtract line 2 from line 1 c .
8 4 Ordinary income (loss) from other partnerships and fiduciaries (allach schedule)
.5 5 Nel farm profit (loss) (atracll Schedule F (Form 1040))
6 Net gain (loss) from Form 4797, Part II, line 18.
3
4
5
8
7 Other income (loss) (see Instructions) (all.act;~:~~ f2)" '7'
8 Totallncome loss. Combine lines 3 throu h.7 ';-,-'!-l. . l,J .
7
8
'W 9a Salaries and wages (other than to partners).
,2 b Less jobs credit .
S 10 Guaranteed payments to partners.
~ 11 Rent.
.2 12 Interest,
,~ 13 Taxes
n 14 Bad debts.
S 15 Repairs.
,g
t 160 Depreciation (see instructions)
.!!! b Less depreciation reported on Schedule A and elsewhere on retum
:g 17 Depletion (Do not deduct 011 and gas depletion.)
.2 18 Retirement plans, etc. .
'0
::J 19 Employee benelit programs. . .
'C
QI
Q
9a
9b
gc
10
11
12
13
~4
15
16a
16b
20
20 Other deductions (attacll schedule)
. . . . . .
. . . . .
21 Total deductions. Add the amounts shown in the far ri ht column for lines gc throu h 20 . 21
22 Ordinary Income (lOSS) from trade or business activities. Subtract line 21 from line 8 22
Under penalties 01 perJury,1 dcclare thai I have examined thiS relurn. including accompanying schedules 3t\d statements, and 10 tho best of my knowledgo
and beliel. It is true, correct. and completo. Dcclaralion 01 prepare' (Olner than general panner) IS b3Scd on alllnlormahon 01 which pfcpafcr has Jny
Imowlcdoc.
Please
Sign
Here
~~
Cat No. 1I390Z
Preparer's SOCIal secunty no.
0.110
1/27/92
P.C.
Check II
.o".employed ~ 0 178 : 38: 0954
E,I.No. ~ 23: 2031522
ZIP codo ~ 17011
CIA
Paid
Pre parer's
Use Only
Preparer's ....
signaturo ,.
Firm's name (or
yours I' self. employed)
and m1d,css
Form 1065 119911
R. Wm. Wire" Associates
lq S. 1q
For PDporwo,k nulluctlon Act Nollco, 500 pogo 1 of aoparoto Instructions.
Fotm 1065119911
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160 Accelerated depreciation 01 real property placed In service beforo 19B7
b Accelerated depreciation 01 leased personal property placed in servico before 19B7.
c Depreciation adjustment on property placed in servico alter 1 9B6
d Depletion (olher limn oil and gas).
o (1) Gross incomo Irom oil, gas, and geothermal properties
(2) Deductions allocable to oil, gas, and geothermal properties
I Olher adiustments and tax prefer en co items (atlach schedule)
170 Type 01 income ~................... b Foreign counlry or U,S, possession ~ ..................
e Totat gross income from sources outside the U.S. (atlach schedule). 17e
d Total applicable deductions and losses (atlach schedule) 17d
o Totatloreign taxes (check one): ~ 0 Paid 0 Accrued. 170
I Reduction in taxes available lor credit (attach schedule) 171
9 Other fore ion tax Information (attach schedule' 170
lBa Total expenditures to which a section 59(e) election may apply . . . . . . . . ~'Ba
19 b 6r~~ It~~~x:'~~~~~~~:r~~i;;d 't~' b; 'r~p~~;d' i;p;;;I~iy i~ 'p;;'~~'r; '(~'e'; i~it;;~ii~'~;l i~it;;;";C;';d~i;,
200 Income (loss). Combine lines 1 through 7 in column (b). From the resull, subtract the
sum of lines B throuoh 120. 17e. and lBa. . . . . . . . . . . . . .. 200
b Anatysis by Iypo (0) Corporate (b) Individual (c) Partnership (d) Exempt
01 partner: I. Active II. Passlvo organlzatlon
(I) General partners 28 . 487
(21 Umltcd partners
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. ~~~I1.~r;;' ,fill~r~~ ~~.111.!<2rn~LQ.r!l~!!~I. !l~!!!lcllon~~!c
!o) Oi5trihu~\lc 51!..~!o items
1 Ordinary Incomt! (1055) hom IraLlo or uusincss activllles (pago 1, hno 22)
2 Not U1COlllO (1055) lrom Icnlal rcal ostate acllvlllcs {.lttnch Fou" BB25}
::Sa Gross 1I1C0lT1U Irom other rcnlill aCllvlllcs . . . . L_~!!-l
bLess oll:pensu5 (Jtt.1Ctl sclJCdtJlcJ). . . . Uu
c Notlncomo (loss) from olher renlal acllvities
4 Portlolio incomo (loss) (seo instructions):
o Inlerest income
b Dividend income .
c Royally income
d Net short.term capilal gain (loss) (attach ScllCdule 0 (Form I06S})
o Nellong.lerm capilal gain (loss) (attach Schedule 0 (Form I06S)}
I Olher portfolio income (loss) (attach schedule).
5 Guaranleed paymenlS to partners
6 Net gain (loss) under section 1231 (other than duo 10 casually or thelt)(atlach Form 4797)
7 Olher income (loss) (atl.1ch SCllodule)
6 Chanlnble contribulions (see instructions) (atlacll lisr)
9 Section 179 expense deduction (attach Form 4562) .
10 Deductions related to portfolio income (see instructions) (itemize)
11 Olher dedllclions (atl"c" schedule'
123 Intel est c)l;penso on investment debts
b (1) Investmenl income included on lines 4a through 4f above.
(2) Investment expenses included on line 10 above.
130 Credit lor income tax withheld. . . . .: .0("'~! .:)"\,.'7.
b Low.income housing credit (see instructions): (~':J.-.::.J I..J L.J
(1) From p3rtnerships to which sectIOn 42(J)15) applies ler property placed In service before 1990
(2) Other than on line 13b(1) lor property placed in service belore 1990
(3) From p3rtnerships to which seclion 420)(5) 3pplies lor property placed in service alter 1989
(4) Other than on line 13b(3) lor property placed in servico alter 1 989 .
e QU3lilied reh3bill13tion expenditures rel31ed 10 rent3! real esl31e activilies (atlach Ferm 3468) .
d Credlls (olher Ih3n credlls shown on lines 13b 3nd 13c) relaled 10 renlal real eslale aclivilies (see instruclionsj
o Credits related to other rental activities (see Instrucllons)
14 Other credils (see Instructions)
150 Net earnings (loss) from sell.employment
b Gross farming or rishing income
c Gross nonfarm incomo .
~
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<I:
1
2
~_')i ~'~
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3c
~
40
4b
4c
4d
40
41
5
6
7
B
9
10
11
120
12bfl1
12bl21
13a
13bl1l
13b(2)
13bl31
13bt4\
13e
13d
130
14
150
15b
15c
160
16b
16c
16d
16el1l
16ef21
161
Page 3
(b) T2tal amounl
22 2.12
6,255
6.255
91
28.487
(el Nominee/Other
Form 4562
Depreciation and Amortization
(Including Information on LIsted Property)
OMO No, 1545-0112
~@91
o.,p.artmcnl vitti. ll""'tory
InltrnJI ne~lmull 51""",(1'
.. 5eo separato Instructions.
... Attach this ronn to your rot urn.
AII.lchmcnl
ScctutJnco No. 67
Idontifying number
23-1733868
Namclsl s.hOy;n on return
\~rilY5 Nus ic !louse Pill" t.ncr~jh i p
DU51nC55 or activity 10 which Ihl5 lorm 'et,lles
Commercial rental
Election To Expense Certain Tangible Property (Section 179) (Note: If you have any "Listed Properly,"
com lele Pari V,)
1 Maximum dollar limitation (see instructions) . . . . . . . . . . . . . . .. 1
2 Total cost of section 179 property placed in service during tho tax year (seo Instructions) . 2
3 Threshold cost of section 179 property before reduction in limitation. . . . . . . 3
4 Reduction in limitation-Subtract line 3 Irom line 2, but do not enter less than -0- . .. "
5 Dollar limitation for tax ear-Subtract line 4 from Ii no 1. but do not enter less than -0- 5
(a) DcsctlpllOn 01 property (b) Cost (el Elected cost
510,000
5200,000
6
7 Listed property-Enter amount from Ilno 26 . . . . . . . .. 7
8 Total elected cost of section 179 property-Add amounts in column (c), lines 6 and 7
9 Tentativo deduction-Enter the lesser of Iino 5 or Iino 8 . . . . . . . . . .
10 Carryover 01 disallowed deduction from 1990 (seo instructions). . . . . . . .
11 Taxable income limitation-Enter the lesser of taxable incomo or line 5 (see Instructions)
12 Section 179 expense deduction-Add lines 9 and ~yl.dQ.I)OLe.,~, re than Iino 11
13 Co over of disallowed deduction to 1992-Add linds ll' and {O~~s)line t .. 13 '
Note: Do not use Part /I or Part III below (or automobiles;-ccrtBilYort.er vehleies, cel/ular telephones, computers, or
property used (or entertainment, recreation, or amusement Visted property). tnstead, use Part V (or listed property.
MACRS Depreciation For Assets Placed in Service ONLY During Your 1991 Tax Year (Do Not Include
Listed Property)
8
9
10
11
12
lb) Mo. and yr. Ie) OasIs for doprcci3110n
(a) Cl3sslhcation of proper1y plaCed tDusmcs$!inveslmont uso
In sef'Vlce on! see inslruclions
14 General Depreciation System (GDS) (see instructions):
a 3. ear propert
b 5.year property 2.634 5 yr
c 7 -year property
d 10.year properly
e 15-year property
f 20-yoar property
9 Residential rental property
(e) COnvention
MQ 200 DB
132
h Nonresidential real property
15 Alternative Depreciation System (ADS) (see instructions):
a Class life
b 12-year
c 40-year
IimDIII Other Depreciation (Do Not Include Listed Property)
27. ~ yrs. MM S/L
27.5 cr.. MM S/L
Jl.li yr~L Mfl Sll.
11.'.> yni. ml SII.
5/1.
12 yrn. SIt.
40ycn. MI1 511.
16 GDS and ADS deductions for assets placed in service in tax years beginning before 1991 (seo
Instructions). . . . . . . . . . . . . . . . . 16
17 Property subject to section 168(ij(1) election (see instructions) 17
18 ACRS and other de reciation (see instruclions). . . 18
Iml!J Summary
19 Listed property-Enter amount from line 25 . . . . . . . . . . . . . . . . . 19
20 Total-Add deductions on line 12, lines 14 and 15 in column (g), and lines 16 through 19. Enter here
and on tho appropriate lines of your return, (Partnerships and S corporations-see instructions) 20
21 For assets shown above and placed in service during the current year, enter
the ortion of tho basis attributable to section 263A costs (see instructions) 21
For Paperwork Rcducllon Act Nollce, seo pago 1 or the separate Instructions.
2 004
2.136
SCHEDULE K-1 Partner's Share of Income, Credits, Deductions, Etc. OM" No 1545,0099
(Form 1065) ~ SeD .onoroto In.trucllonu. ~@91
o.p.1t1"..nl ullh8 1,.,ul.fY
Inl..n.tl R...en... SMVoCe For ealondaf VeDt 1091 or till yoar bogtnnlng . 1001. find ending .10
Partner's Identifying number" 5ll>-11l-5hl>Y Partnership's Idenllfylng number" 23-1733868
Partner's name, address, and ZIP code Partnership's name, address, and ZIP code
Nana' E. Wray
421 A11endale Way
Camp f1ill, PA 17011
A
B
Wray In ~1uuic HounD Partnership
370 Market Street
[,emoyne, PA 17043
Enter partner's percentage 01: I;) Defer. change Pi) End Dr
or tormln,lhon yeilf
Prolll sharing. . . ......... wl ?..!\ ~.7.1 %
Loss sharing. . . .. ......... wl?R?.?.1 %
Ownership of capital .. . ......... 1l.4?~.?.?.1 %
G(I) Tax sheller registration number . ..~ ......~ll!!................
(2) Type of tax sheller" .....................W!!...............,
H Check here If this partnership Is a publicly traded
partnership as defined In section 469(k)(2) . . . . 0
Check a licable boxes: 1 0 Final K-l 2 0 Amended K.l
c
o
E
J
Is this partner a general partner? . liD Yes 0 No
Partner's share of liabilities (see instructions):
Nonrecourse. . . . . ., .$ .....~Il:-..........,
Quail lied nonrecourse financing . .$ .....~Il:-..........
Other. . . . . . '. . . . .$ .25,.32.6........,
What type of entity Is this partner?" ~n<;Ul1i.c,l.llil1....
Is this partner a ()g domestic or a 0 foreign partner?
IRS Center where partnership filed return:
Ph i 1 add hi a
Analysis 01 artner's capital account:
(a) Capital account at (b) CapItal conlnbuled
beginning 01 year dUfIr\g yeaf
(d) WiThdrawals and
dlstnbutions
tet CapItal accounl at end 01
vanr (combine columns (3)
thrnu h (dll
F
Ie) Panner'~ sharo ot Ilnos
3,4. and 7, Form 1065,
Schedulo M.2
(a) Distributive share Item
(b) Amount
(e) 1040 filers enter tho
amounlln column (b) on:
} (See ."'......,..,"""'00. r,"')
Schedul. K.lIF0tTT11065)
'iil
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1 Ordinary Income Ooss) from trade or business activities
2 Net income (loss) from rental real estate activities. .
3 Net Income (loss) from other rental activitief . ~ .~:.:--<. r-----
4 Portfolio income (loss): ' ( ',_;: ) I; .~
a Interest " .. .-. ". .-' ' ~
b Dividends. . . . . . . .
o RoyaUies. . . . . . . .
d Net short-term capilal gain (loss)
e Net long.term capital gain (loss).
1 Other portlolio Income (loss) (attach schedute)
5 Guaranteed paymenls to partner . . . .
6 Nel gain (loss) under section 1231 (01 her than due 10 casually or the It)
7 Other income (loss) atlach schedule). . . . . . . .
8 Charitable contributions (see instructions) (atlach schedule) .
9 Section 179 expense deduction. . . . . . . . .
10 Oeduclions related to pori folio Income (atlach schedule) .
11 Other deductions (atlach schedule). . . . . . . .
1
2
3
9,528
2.681
Sch. B, Part I, line 1
Sch. B, Part II, line 5
Sch. E, Part I, line 4
Sch. D, line 4, col. (I) or (g)
Sch. D, line II, col. (f) or (g)
IEnle,onappllUt)l,llnlolyoutrelurn)
1 (See Pat1nor',lnltruction. for)
I Schedul. K.l (Form '06S)
(Enteron IPplicable Me 01 your return)
Sch. A, line 13 or 14
} (See PAI1net', Inltluctlon. for )
5c.hedul. K.1 IForm 1065).
40
4b
40
4d
4e
41
5
6
7
8
9
10
11
.
u..
"c
'00
GJ.-
0"
c
..-
e::l
.. ~ 120 Interest expense on Investment debts. . . . . . . .
....
~ C b (1) Investmenl Income Included on lines 4a through 4f above
c" (2) Investment expenses Included on line to above
13a Credit for Income tax withheld . . .
b Low.lncome housing credit:
(1) From section 42Ul(5) partnerships for property placed In
service before 1 gOO . . . . . .
121 Olher Ihan on line 13b(l) for properly placed In service belore 1990
(3) From section 420)(5) partnerships for property placed In
service after 19B9 . . . . . . . . . . . . . . .
141 OIher Ihan on line 13b(3) for property placed In service alter 19B9
o Qualified rehabilitation expenditures related to rental real estate
actlvilies (see Instructions) . . . . . . . . . . . .
d Credits (other than credits shown on lines 13b and 13c) related
to rontal rOJI ostalo nclivitios (~eo Instructions). . . .
o CredIts related 10 othor ronlal activitios (soo Instructions) .
14 Olher credits (see Inslructions). . . . . . . . .
For Paporwork Reduction Act NotlcD, see Instructions for Form 1065.
120
bll) ,681
b{21
130
Form 4952, line 1
} (See Partner', In.lnJC1101''i1 'or )
Schedule K.l1Fann 106S).
( SM Par1net', II1Slructlon. for )
Schedule K.' (Fann 10(5).
:3
'6
2!
o
] ( S.. .on....'. "''''''''''00' '''' )
SUledule K.l(FOl'm tOG!.1
Form 8586, line 5
13d
130
14
Cat. No. 11394R
Schedulo K.l (Form 1065) 1991
'"
Gl
"
~
C
01
'~
&
..
Gl
.s:
..
o
c
.2
..
111
~
.E
.5
iii
..
C
Gl
E
Gl
a.
a.
:s
1Il
.......
Schedulo K.1lforltl 106511091
(a) Dlslrlbulivo sharo 110m
E ti
~~
U D
",a.
150 Nel earnings (loss) from self.employment.
b Gross fanning or fishing income. . . .
c Gross nonfarm income. . . . . . .
160 Accelerated depreciation of real property placed in servico boforo
19B7 . . . . . . . . . . . . . . . . . . .
b Accelerated depreciation 01 leased personal property placed In
service before 19B7. . . . . . . . . . . . . . .
c Depreciation adjustment on property placed in service alter 19B6
d Depletion (other than 011 and gas) . . . . . . . . . .
e (1) Gross Income from oil, gas, and geothermal properties . .
(2) Deductions allocable to oil, gas, and geothermal properties
father ad'oslments and tax reference items attach schedule)
170 Type 01 Income .. .................................................
b Name of loreign country or U.S. possession" .................
c Total gross Income Irom sources outside Ihe U.S. (attach
schedule). . . . . . . . . . . . . . . .
d Total applicable deductions and losses (attach schedule) .
e Tolal foreign taxes (check one): .. 0 Paid DAccrued.
f Reduction in taxes available lor credil (attach schedule) .
9 Other lorei n tax Inlormation (attach schedule). . . .
"
~'"
'D E
c Gl
111:::
J!lGl
CO
Gl C
~~
:s e
:en.
<
(bl Amount
Pooo 2
(cll040 liIo~ onter tho
omount In column (b) on:
Sch. SE, Section A or B
} (See Partn.", Inllt\JC11Ot\S lor )
5c.hed"'. K.llfcrm t06S).
15a
15b
15c
~
160
%
16b
16c
16d
e(l)
e(2)
16f
39
(See Partner's
Instructions for
Schedule K.l
(Form 1065) and
Instructions for
Form 6251.)
~
Form 1116, Check boxes
I 'om" '". P.. I
Form 1116, Part \I
Form 1 ; 16, Part /II
S"lnSlrucllM' for Ferm 1116,
) See Partner's
Instructions for
Schedule K-l
(Form 1065).
17c
17d
17e
171
179
lBo Total expenditures to which a section 59(~) ~~d~ hp]])""-' 180
'--::: -, W
b Type of expenditures .. ............................:~:.........
19
a
b
20
Recapture 01 low. Income housing credit:
From section 420)(5) partnerships . . . . . . . . . .
Otherthanonlinelga. . . . . . . . . . . . . .
} Form 8611, line 8
Supplemenlallnlormation required to be reported separately to each partner (attach additional schedules If more space Is
needed):
.........................................................................................................................................'
...........................................................................................................J..............................
..........................................................................................................................................
..........................................................................................................................................
..........................................................................................................................................
..........................................................................................................................................
.........................................................................................................................................,
..........................................................................................................................................
..........................................................................................................................................
..........................................................................................................................................
.........................................................................................................................................,
..........................................................................................................................................
..........................................................................................................................................
'----.
SCHEDULE K.1 Partner's Share of Income, Credits, Deductions, Etc. OMU Uo, 15.50099
(Form 10G5) ... Suo sop.nO\lo In5IrUcllof1s. ~@91
OulloJllltMM'1 ul "...l.lt.a,,,'t
Inl..".)1 11."'........ 5..,~1C1t Far calondar yoor '091 or liU yGar bon1nnlnn . 1001. and endlnn .10
Portner's Identifying number ~ I 'J~- .111- %~)~ Par.!!ler~.hlp's Idonlll~ number ~ 2 J- I 'I J JII611
Partner's namo, address, and ZIP codo Partnership's name, address, and ZIP codo
\oJray'n Nunic House Parlnernhip
J70 Market Street
!.emoyne. P^ 17043
Enter partnor's percentage of: PI 0.1010 chango PI) End 01
or tClmlnallon Scar
Profit sharing. . . ......... %21\:..:1.1.4%
Loss sharing. . . .. ......... %21\:.?H4%
Ownership of capital . . ......... %2~:.?:1.1.41l.
Gill Tax shcltcr rcglstralion numbcr . ~ ...W!t..................
(2) Type of tax sholter ~ ..................t}!!'!..................,
H Check horo If this partnership Is a publicly traded
partnership as defined in section 469(k)(2) . . . . 0
Check a licablo boxes: (1) 0 Final K.l 21 0 Amcnded K.l
Nanl1 \'1. Dc-Stefano
221 Glcnsi(lc I~ne
Camp lIi11. P^ 17011
A Is this part nor a genoral partner? . 1ZI Yes 0 No
B Partner's sharo 01 liabilities (seo instructions):
Nonrecourso. . . . . .. . $ ............7.l).~..
Qualifiod nonrocourso linancing . .$ ............7'.l).~..
Olher. . . . . . . . . . . $ .......J.6J,~,6,L
What typo of entity is this partncr?" ~.I)M.yj !!\V!)...
Is this partner a [2J domestic or a 0 foreign partnor?
IRS Centor whore partnership filed rot urn:
Philadel,hia
Analysis 01 artner's capital account:
(al Capllal account al {bl CapItal conlrlbuled
beginning 01 YC.1f dUllng year
C
o
E
J
F
(e) Polrtnc"s shOlto 01 lines
3,4, and 7. Form 1065,
Schedulo M.:?
(a) Dlstrtbullvo share lIem
~
en
en
o
::!.
III
E
o
U
.5
Ordinary income (loss) from trade or business activities
Net incomo (loss) from renlal real estate activities. .
Net Income (loss) 'rom other rental activities. . . .
Portlolio income (loss): C"'" '.-...,,~"
.... ,r ',", '\ "
a Interest . "'." ~. ..... J I, .'
b Dividends. . . . . --' .-' .......;
c Royallies. . . . .
d Net short. term capital gain (loss)
o Netlong.term capilal gain (loss).
I Other portfolio income (loss) (attach schedulo)
5 Guaranteed payments to partner . . . .
6 Nct gain (loss) undcr scction 1231 (olhcr than duc to casualty or thcfl)
7 Olher income (loss) (attach schedule). . . . . . . .
6 Chantablo contributions (seo instrucllons) (attach schedule) .
9 Seclion 179 expenso deduction. . . . . . . . .
10 Deductions related to portfolio Incomo (altach schedule) .
11 Olher deductions (altach schedule). . . . . . . .
1
2
3
4
,
Uen
"c
'00
Ill'-
e"
'E
..-
el3
_ ~ 12a Interest expense on investment debts. . . . . . . .
....
g: 'E b (lllnvestment Incomo Included on lines 4a through 4f above
.5 - 211nveslmenl ex enses Included on line 10 abovo
130 Credit for income tax wilhheld . . . . . . .
b Low.incomo housing credit;
(1) From section 420)(5) partnerships for property placcd In
service be foro 1990 . . . . . . . . . . . . . .
(21 Olher Ihan on Iinc 13b(l) for property placcd in servicc bcforc 1990
(3) From section 42GlI5) partnerships for property placed In
service aher 19S9 . . . . . . . . . . . . . . .
(41 OIher than on line 13b(3) for property placcd in scrvlce aflcr 1989
c Qualified rehabilitation expenditures related to rental real estato
activities (see inslructions) . . . . . . . . . . . .
d Credils (other than credits shown on lines 13b and 13c) related
10 rental roal ostLllo aclivilius (soe inslructions). . . .
e Credils related to other renlal aClivities (see instructions) .
14 Olher credits (see Instructions). . . . . . . . .
For Paporwork Reduction Act Notlco, SOD Instructions for Form 1065.
!I
'6
l!!
o
1
2
3
(d) W.thdrawals and
dlstnbulions
(el Capital account at eM af
year (combine columns (a)
through ldll
(b) Amount
(c) 1040 lIIers enter the
amount In column (b) on:
} (s.. P.",.... ''''lNelion.', ",)
Schedule K.llForm 106~1
6 352
1 787
Sch. e, Part I, line 1
Sch. e, Part fI, line 5
Sch. E, Part I, line 4
5ch. 0, line 4, eol. (f) or (g)
5eh. 0, Iinc 11, eol. (f) or (g)
(Enter on ,pphCJtle hne 01 your Illurnl
} ( SN Partnet'" l"ItruclIonl fOf)
Sc~ule K.l (Form 106~).
IEnleron ,pphuble Ime cl your felutn I
Sch. A, Iino 13 or 14
} (See Par1ne,', 1",trvctlCn, 'Of )
Sc.l'ledule K.l (Form lOG!l).
1.787
Form 4952, line 1
} ( SN Po1rtnet'. InslnJCtjOtl' IOf )
Scht'du!e K.1 (Form lOG!l).
(See P.v1Il4!f" 1""1\lcllOfll .'0' )
Schedule K.I(Form 106!l1
Form 8586, line 5
~
13d
130
14
Ca!. Uo. 11394R
) (,""p",_..,""""""",,,,)
Scr>(Ilj"'. K.lIFOi'm 106!lj
Schedule K-l (Form 1065)1991
-,
Schedule K.1 (Form 10(5) 1991
(b) Amount
Paql 2
(cll040 fill,. ontlr tho
amounlln column (b) on:
Sch. SE, Section A or B
} (See Partner', Inllructlonl 101 )
Sc.tlfldu4. K.' (ronn106!l1
(a) Dlslributlvo aharo 110m
e ~ 150 Net oarnlng5 (loss) 'rom soU. employment .
=~ 10
~ b Gross farming or fishing Income. . . .
~ Ci c Gross nonfarm Incomo. . . . . . .
><
{!Ul
'DE
C Ql
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C U
Qlc
EI!!
....!!
!!il!!
:00.
c(
III
Ql
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o
II.
..
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.c
...
o
150
15b
150
16a Accelerated depreciation 01 real property placed In servico before
19S7 . . . . . . . . . . . . . . . . . . .
b Accelerated depreciation 01 leased personal property placed in
service belore 19S7. . . . . . . . . . . . . . .
o Depreciation adjustment on property placed In service alter 1 9S6
d Deplellon (other than oil and gas) . . . . . . . . . .
o (1) Gross Income from oil, gas, and geothermal properties . .
(21 Deductions allocable to 011, gas, and geothermal properties
I Other ad'ustments and lax relerence Items (attach schedule)
17a Type of Income" .................................................
b Name of foreign country or U.S. possession" .................
o Tolal gross Income from sources outside the U.S. (of tach
schedu/o). . . . . . . . . . . . . . . .
d Total applicable deductions and losses (af/ach schedule).
e Total lorelgn taxes (check one): .. 0 Paid 0 Accrued.
1 Reduction In taxes available for credit (a/tach schodu/o) .
o Other forel n tax Information (af/ach schedule). . . .
26
(See Partner's
Instructions for
Schedule K.l
(Form 1065) and
Instructions for
Form 6251.)
170
17d
17e
171
170
Fonn 1116, Check boxes
1 'om "". ""' ,
Form 1116. Part II
Form 1116. Part III
S,,'nstructlons rer Form 1116,
1 See Partner's
Instructions for
Schedule K-l
(Form 1065).
180 Total expenditures to which a section 5g(e) electiO{' maY,01lP1y
T f d' ~ . ( "'l' '"\ 'I -;"J
b ype 0 expen Itures... .......................,..:,... ......h.....
,'-' -. -
...................................................~..~.~,;..i,.,J...
180
Recapture of low. income housing credit:
a From section 420)(5) partnerships . . . . . . . . . .
b Other than on line 19a. . . . . . . . . . . . . .
Supplemental Information required to be reported separately to each partner (et/ach additional schedulos if mora space is
neoded):
19
} Fonn 8611. line 8
20
..........................................................................................................................................
Form 1065, Line 2, Schedule K-l, Net Income (Loss) from Rental. Real Estate
............................................... ........... . ........
..... .~~~.<;'~~..~~?~.. ~ ~~~?:~.. ?::.~.~~ ~.~ X. .~.~ ~~.~.~~ ~.~~!.<:.. ~~. ~~<:.. p.?~.~~<:.~.: ;;...~!l~~.<:!':~.r:.. .................
in ownership after October 31, 1986 $3,176
................................................................................... ..-~..................................................
.
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..............................................................................................................................................
..............................................................................................................................................
...........................................................................................................................................
..........................................................................................................................................
..........................................................................................................................................
...........................................................................................................................................'
..........................................................................................................................................,
..........................................................................................................................................
..........................................................................................................................................
............................................................................................................................................
~
SCHEDULE K-1 Partner's Share of Income, Credits, Deductions, Etc. OMO "0, 15'5,0009
(Form 1065) ~ Sou 'UI,arato Inslructlons. ~@91
Ooop.l/lnwol 0111.. "..11"')' U
1n1'U'l.lllle~I!""'" 5'''''0(t! rOf ealendar YC!i]r 1991 or li1ll 'f.HU benlrmillfl 11991, pnd cndlng .19
Partner's Identifying numbor ~ 175- '10- 5044 Partnorohlp's Identifying number ~ 23- 173 30(,8
Partner's nama, address, and ZIP codo PartnershIp's namo, addross, and ZIP codo
\~il1iam A. I~ray, Jr. Wray's Music lIallse Partnership
91 Skyline Drive J70 Market Street
~lechanicsburg. PA 17055 Lemayne. PA 17043
A
B
Is this partner a general partner? . I2l Yes 0 No
Partner's share of liabililies (see inslructions):
Nonrecourse. . . . . .. .$ ..........::!)~....,
Qualified nonrecourse rinancing . . $ ..........:: .Q~....
Other. . . . . . . . . . .$ ......l!\,.~!!L.
Wh tt I 1'1' Ih' rt ? ~ Individual
a ype 0 en I Y IS IS pa ner .... ...................
Is Ihis partner a ~ domestic or a 0 foreign partner?
IRS Center where partnership filed relurn:
Phi1adcl hia
At. f 'tl
Enter partner's percenlage of: II) Oerole change PII End 01
or lormmallon Sear
Prolil sharing. . . ......... %2.1!.....7.1.5K.
Loss sharing. . . . . ......... %2.1!...~.?15K.
Ownership of capital . . .~. ......... %2.1!...~.?.l5K.
Tax shelter registration number." ..~/!\....................
Type of tllX shelter ~ .................~/!\....................
Check here if this partnership Is a publicly traded
partnership as defined in section 469(k1l2) . . . . 0
Check a Iicablo boxes: 1 0 Final K.l 2 0 Amended K.l
F
c
o
E
G(11
(2)
H
J
na YSIS 0 partner scapi a account:
(a) CapItal accounl .11 (b) Capllal conltlbulcd (e) Partne,'s share of lines (d) Withdrawals and (e) CapItal account at end 01
3.4. and 7. Form 1065. year (combine columns (a)
beg'nnlllg 01 year during yeilr Schudulo M.2 dlslrlbulions lhrouoh (dO
( )
(a) Olstribullvo sharo lIem (b) Amount (c) 1040 me.. enter tho
amount In column (b) on:
1 Ordinary income (loss) from trade or business activities 1
2 Net income (loss) from renlal real estate alti~ .,~ ~. .2- 6.352 } (s" p",,,,,,'. """",",. rei)
Schedule K.I tForm 1065}.
3 Net income (loss) from Olher rental activities '\- . : :: J' .~ 3
'iii' 4 Portfolio income (loss): -' L..:
en a Interest 40 1,787 Sch. B, Part I, line 1
0
..J b Dividends. 4b Sch. B, Part II, line 5
-
GI c Royallies . 4c Sch. E, Part I, line 4
E d Net short.term capital gain (loss) 4d Sch. 0, line 4, col. (I) or (g)
0
U Net long-term capital gain (loss). 40 Sch. 0, line 11, col. (f) or (g)
.E e
1 Other portfolio income <loss) (attach schedule) 41 (Enleron ,ppllcable line 01 yourrelurn)
5 Guaranteed payments to partner 5 } ( s.. p",,,,,'. '"_1<''' rei)
6 Nel gain (loss) under section 1231 (olher than due 10 casually or thell) 6 Schedule K.1(Form 10651.
7 Othcr income (loss) (aUach schedule) . 7 ((nlet on'pphcable line olyout return)
0 a Charitable conlllbullons (see inslruclions) (attach schedule) . 8 Sch. A, line 13 or 14
Uen
::Ie 9 Section 179 expense deduction. 9
'1:10 } (s.. P"'..... ,..,'''',,'''. "" )
GI'- 10 Deductions related to portfolio income (attach schedule) . 10 Schedule K.' (FOfm '0651.
e- II Other deduclions (attach schedule). 11
'E
..-
e:: 120 Inlerest expense on inveslment debts. 120 Form 4952, line 1
- -
.... b (1) Investment income included on lines 4a through 4f above b(l) 1,787 } (s.. p",,,,,'. 1..'",,:tiOn. rei )
..-
>c
c- (2) Investment exoenses Included on line 10 above b12) Schedule K.1 (form 10651.
13a Credit lor income tax wilhheld 130 ( See P.vtne,'. lnSltUChont lor )
Schedule K.1!Form 1065).
b Low.income housing credit:
(1) From section 420)(5) pnrtnerships for property placed in
service before 1990 b(11
(2) Olher Ihan on line 13b(l) lor property placed In service before t990 b(2)
~'" Form 8586, line 5
.fl (3) From secllon 42U)(5) partnerships for property placed In ",;~
'5 service after 1 909 b(3)
l!! (4) Olher Ihan on line 13b(3) for property placed in se",ice aller 1989 b(4)
0
c Qualilied rehabilitation expendilurcs related to rcnlal real cst ale ,
activities (see Instructions) 13c
d Crerills (other than crodlls shown on lines 13b and 13c) ,elated ) (~.-. "-'."')
10 rcntal rcal cslalc activltics (seD instructions) , 13d Schedule K"tForm 10651
e Credits related to olher renlal aclivilies (see instructions) . 130
14 Olher credits (see instrucllons) . 14
~n.. Olln...",.II"..., R.rillrllnn Art Nntl,.,. 'lIpn In..trllr.t1nn~ Inr Form 1065.
CJt. Uo, 11394n
f
.
~
QEORGE C. CLAUSER, SRA
r"
PA STATE CERTIFIED GENERAL APPRAISER
Georgtl C. ClalLttr
Real Eslate Appmisals
3920 "'"rkel Slreet
Camp 1Ii1/. PA 1701l
TelepllOne: 717-737-7300
FAX: 717-730.0922
December 6, 1996
Edmund G. Myers
Attorney at Law
Johnson Duffie Stewart and Weidner
301 Market Street
Lemoyne, PA 17043
RE: Estate of Nana E. Wray
370 and 400 Market Street
Lemoyne, PA 17043
Dear Mr. Myers:
As requested, I have completed my inspection and subsequent market
studies on the above referenced property for the purpose of estimating its
market value.
The site is located in Zone C of HUD identified flood hazard area, which
are areas outside the 500 year limits not requiring flood insurance. The
appraised value assumes the property is clear of hazardous materials with DER
Phase I Report recommended.
Based on my studies and subject to the limiting conditions found in and
attached to this report, the entire property value 'as is' in my opinion has
a market value as of May 15, 1996 of
370 Market Street
400 Market Street
$135,000
$ 94,000
COMMERCIAL' INDUSTRIAL' APARTMENT COMPLEXES' SUBDIVISION ANALYSIS' RESIDENTIAL
O.OO03C.l
:no &. 400 U.rk.t It" Uaoyn', PA
..
--
FROtIT V.LVI OF 370 AlID 400 1,I^,lKU Sllll[f
tlnd
REAR VIEW OF 400 AlID 370 l,lARKIT SIIIILl
'., .:;,~;._d
..." .,'~
........ .
!tJ'.. ,
.'
(
---
e .0903C.'
:170' .00 U,rk,t St., l''':l1ne, PA
""""
-,
~
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
PROPERTY ADDRESS:
370 and 400 Market Str'eet, Lemoyne, PA 17043
OWNERS OF RECORD:
William A. Wray, Nana E. Wray, Nana Elizabeth
DeStefano, Frank J, DeStefano and Nana Elizabeth
DeStefano, Trustee for William Wray, Jr.
LAND AREA:
370 Market Street
400 Market Street
35' x 145' = 5,075 SF
35' x 150' = 5,250 SF
IMPROVEMENTS:
2-story block and frame retail storefront and office
building with basement and a 1-story brick faced
block storefront.
HIGHEST AND BEST USE:
Present use as two single entity
commercial facility with office,
retail and storage use
VALUE ESTIMATES:
Cost Approach:
Income Approach:
370 Market Street
400 Market Street
Sales Comparison Approach:
370 Market Street
400 Market Street
Not applicable
$135,000
$ 91,000
$135,000
$ 96,000
FINAL VALUE ESTIMATE:
370 Market Street
400 Market Street
$135,000
$ 94,000
DATE OF VALUATION:
May 15, 1996
~
"'""'
TABLE OF CONTENTS
PURPOSE OF APPRAISAL......................................................
PROPERTY RIOUTS APPRAISED................................................. 1
MARKET VALUE DEFINED............... I...................................... 1
DATE OF VALUE ESTI~tATE..... I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
LEGAL DESCRIPTION............... I............. I........................... 2
REAL ESTATE TAX AND ASSESSMENT ANALySiS................................... 3
LEASES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3
AREA ANALySIS........... I................................................. 5
NEIGHBORHOOD ANALySIS..................................................... 6
SITE ANALySIS............................................................. 7
IMPROVEMENT ANALySIS...................................................... 9
HIGHEST AND BEST USE...................................................... 10
VALUATION PROCESS AND SCOPE OF APPRAISAL.................................. 11
MARKET ANALYSIS AND SPECIAL CONSIDERATIONS................................ 11
COST APPROACH.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 12
INCOME CAPITALIZATION APPROACH............................................ 13
SALES COMPARISON APPROACH................................................. 19
RECONCILIATION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 30
CERTIFICATION AND STATEMENT OF LIMITING CONDITIONS........................ 32
ADDENDA
1. Zoning Map and Information
2. Flood Map
3. Deeds
4. BUilding Sketches
5. Tax Map
6. Appraiser's Qualifications
370 & 4100 Market St,. Le.o,ne. PA
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APPRAISAL OF
COMMERCIAL BUILDINGS
370 & 400 MARKET STREET
LEUOYNE, PA
PURPOSE OF APPRAISAL
The purpose of this appraisal is to estimate the market values of the subject
properties as of May 15, 1996. Date of inspection was October 29, 1996.
The function of this appraisal is its use in providing a market value estimate
which is for the Estate of Nana E. Wray.
PROPERTY RIGHTS APPRAISED
For the purpose of this appraisal, the property rights appraised assume fee
simple title which is a title that signifies ownership of all the rights in a parcel
of real property subj ect to limitation of the four powers of government which are
taxation, escheat, police power and eminent domain. The property is valued as
unencumbered by the eXisting leases as leases are month to month or non-existent.
MARKET VALUE DEFINED
A widely accepted definition of market value accepted by the Federal National
Mortgage Corporation and the Federal National Mortgage Association is used in this
report and is defined as follows:
'The most probable price in terms of money which a property should bring in a
competitive and open market under all conditions requisite to a fair sale, the buyer
and seller, each acting prudently, knowledgeably and assuming the price is not
affected by undue stimulus.'
Implicit in this definition is the consummation of a sale as of a specified date
and the passing of title from seller to buyer under conditions whereby:
1. buyer and seller are typically motivated.
2. both parties are well informed or well advised, and each acting in what they
consider their own best interest.
3. a reasonable time is allowed for exposure in the open market.
4. payment is made in cash or its equivalent.
:no l 400 "arket St. I L..01nt I PA
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REAL ESTATE TAX AND ASSESSMENT ANALYSIS
Assessments:
Tax Map H21-265-155
(370 Market St.)
Tax Map H 21-265-156
(400 Market St.)
land
Improvements
Total Assessors Value
$ 2,620
$ 9.220
$11,840
land
Improvements
Total Assessors
$ 2,620
4.460
Value $ 7,080
Real Estate Taxes for 1996 are computed as follows:
Tax Map H21-265-155
(370 Market St.)
Tax Map H 21-265-156
(400 Market St.)
TOTAL
MILLAGE ASSESSMENT
TOTAL
MIllAGE
TAXES
ASSESSMENT
TAXES
.1922 X
$11,840
=
$2,275.65
.1922 x $ 7,080
= $1)360.78
Based on the common level ratio currently being used in Cumberland County of 7%,
the indicated property values from the County's viewpoint would be as follows:
Tax Map H21-265-155
(370 Market St.)
Tax Map H 21-265-156
(400 Market St.)
$11,840 + .07 = $169,000 Market Value
$7,060 + .07 = $101,000 Market Value
Total Assessor's Market Value for Combined Properties $270,000
LEASES
Based on information received, leases are all expired and the tenants who occupy
the property are on month to month basis. The units tenant occupied on month to month
leases are as follows:
370 Market Street
Do Wray Mi Pianos is rented for $1500 per month. $1500 per month x 12 = $18,000
per year.
:no I 400 Vlr'ht at" l..orn., PA
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AREA ANALYSIS
Harrisburg area is located in South Central Pennsylvania and includes Cumberland,
Dauphin, Perry and Northern York Counties. The area is one of the most strategically
located areas in the East United States and the major center for food distribution in
the Middle Atlantic market region which contains over 40 million people, 1/5 of the
national population.
Freight and rail services to the area are excellent. More than 36 trucking lines
maintain terminals in the Harrisburg area. The subject area is located at the hub of
the East-West and North-South lines of the Conrail Railway, making the area ideally
situated for storage in transit benefits. The Conrail Railway also operates a large
freight classification yard in the area.
Baltimore
Philadelphia
Washington
New York City
Pittsburgh
60 Miles
90 Miles
120 Miles
175 Miles
195 Miles
Employment opportunities in the area are good. The State of Pennsylvania employs
35,000 area workers. Harrisburg being the State Capitol and the U.S. Government
employs another 14,000+ most of which serve the two large supply depots, the Army
Supply Depot at New Cumberland and the Ship's Parts Control Depot in Mechanicsburg.
According to information provided by the Central Penn Business Journal, February,
1993, some of the largest employers in the Harrisburg Area include AMP, Inc., Hershey
Foods, Inc., Pennsylvania Blue Shield, M.S. Hershey Medical Center, Harrisburg Health
Foundation, Polyclinic Medical Center, I.B.M., Bethlehem Steel Corporation, Harsco
Corporation, GPU Nuclear 3 Mile Island, Giant Foods, United Telephone Company, Holy
Spirit Hospital, Rite Aid Corporation, Herco, Inc. and Sears.
The economic base of the area is diversified and extends from strong government,
service related and transportation facilities to commercial and industrial uses.
Unemployment rates are consistently some of the lowest reported in the area.
In summary, the areas location with respect to Eastern United States, the
presence of convenient highway, air and rail transportation and the presence of State
and National Employment opportunities have resulted in bright prospects for continued
growth in the Harrisburg Standard Metropolitan Statistical Area.
:'10 &.400 U.u-klt St., luoyn., PA
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NEIGllBORIIOOD ANALYSIS
The subject property is located on the south side of Market Street in Downtown
lemoyne between 3rd and 4th Streets.
The neighborhood, in general, consists of lemoyne Borough which extends
eastwardly toward the "bottleneck" & Susquehanna Riverj west to Camp lIill Borough
approximately 14 blocksj north to Wormleysburg Borough and south to New Cumberland
Borough.
Market Street is the main east-west traffic artery in the area extending from
Market Street Bridge west through Camp lIill Borough. Third Street extends south and
provides easy access to 1-63, 1-61, and various municipalities.
The "square" in Downtown lemoyne is located just east of the subject and uses the
immediate area including Dauphin Deposit Bank, the U. S. Post Office in lemoyne, A
Hardee's Fast Food Restaurant, and various commercial establishments including
offices, Camp Hill Distributors, and various stores. Metered parking is available
along Market Street. Off street parking is limited for many commercial establishments
and is a negative factor.
Utilities within the neighborhood include electricity, telephone, gas, public
water and sewer.
Within the subject neighborhood, prices vary and depend on the type of property
and its existing use. commercial values range from $60,000 for smaller houses
converted to offices or apartments, to over $1,000,000 for larger newer facilities.
Rentals range from $5.00 to $15.00 per square foot depending on the type of facility
and services provided. Demand for property rentals is moderate. Vacancy rates range
from 5-10%. Many of the smaller commercial properties are owner occupied.
The neighborhood life stage is considered to be stable with the area estimated
to be 99% developed with limited vacant land available for new construction.
Planning, zoning and restrictions for the area permit a mixed blend of uses which
appear compatible to the neighborhood. property qualifies for all types of financing
with all types of mortgage money available through most lending institutions and
Cumberland County Industrial Authority as well as the Capital Region Economic
Development Corporation (CREDC).
Values within the neighborhood ar table.
370 .. 400 Vark.t St. I luoyn., PI.
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snE ANALYSIS
Information obtained from Cumberland County Court House Records and the
legal description recorded in Deed Book 23X, Page 676, indicates that 370 Market
Street is located on the south side of market Street in lemoyne Borough.
The property, oblong in shape, is relatively level to grade along Market
street, then declining as it proceeds southward, exposing the sides and rear of
the improvements. Site dimensions are 35' frontage on market Street and the
rear alley with 145' of depth on each side. Estimated area is 5,075 square
feet. The property being lot No. 116 on the Plan of lots known as Plan No.6
North Riverton recorded in the Cumberland County Recorders Office in Plan Book
1, Page 101.
400 Market Street is also on the south side of Market Street west of and
adj acent to the property at 370 Market Street. The legal description of 400
Market Street is recorded in Deed Book 27S, Page 947.
The property also slopes downward, exposing the rear of the building. Site
dimensions are of uniform width and length being 35' on the street by 150' deep.
Estimated area is 5,250 square feet. The property being lot No. 115 on the Plan
of lots known as Plan 6 North Riverton recorded in the Cumberland County
Recorders Office.
Utilities available are: Gas (U.G.I. Corporation); Sewer (Municipality
Sewer Service); Water (Pennsylvania American Water Company); Electric
(Pennsylvania Power and light Company); Telephone (Bell of Pennsylvania).
Concrete curbs and sidewalks are installed along the front of the sites.
paved off-street parking is available for 5 cars at the rear of 370 market
Street and 6 cars at the rear of 400 Market Street.
. .
:370.. 400 Uarklt St'l le.oyn., PA
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SITE ANALYSIS - ICont'dl
HAZARDOUS MATERIALS/FLOOD INFORMATION:
The appraiser has no knowledge of underground storage tanks or hazardous
materials on site, in the soil or subsoil, or gases found in the environment
such a toxic waste or radon gas, etc., which mayor may not be present in the
property. I urge the client to retain an expert on these matters and this
appraisal is based on clear certifications and assumes the property is clear of
hazardous materials, including lead base paint.
I urge the client to retain an expert on these matters with DER Phase I
report suggested. This appraisal is based on clear certifications and assumes
the property is cleared of hazardous materials. Based on information obtained
from the township office and U.S. Department of Housing & Urban Development,
Federal Insurance Administration Flood Maps, the subject is located in Zone C
of HUD identified flood hazard area as shown on Community-Panel #420361 0001B,
Dated December 4, 1979. Zone C are areas outside the limits of flood plain with
no flood insurance required.
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370 I 400 ".rklt St., ll.eyn" PA
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IMPROVEMENT ANALYSIS
A brief description of the improvements in their "As Is" condition as of the
date of my inspection on October 29, 1996 is as follows:
370 Market Street is a two-story block and frame retail storefront and office
building with basement. It is heated by an oil fixed hot water system and has 100
amp electric service and an asphalt roof.
First Floor - contains approximately 2,552 square feet of open display area
for musical instruments, predominately pianos and organs. Display area has drop
ceilings, painted walls with chair rails, and carpeted floor. The front of the
display area has floor to ceiling plate glass facing Market Street. There is also
a half bath with sink and commodes, and connecting walkway leading to the property
at 400 Market Street.
Second Floor - with approximately 1350 square feet which includes four
offices and two 2 piece bathrooms. The two rooms at the front of the building are
leased by the same tenant and are used as one office. There is also a hall from
the center landing to the rear of the building that opens on a covered porch.
Offices are carpeted and painted and bathrooms have painted wood panel walls and
vinyl flooring.
Basement - includes a large segmented storage area with loading dock, a pet
grooming business with entry hall, four rooms, pet washing area and half bath with
sink and commode, and a small office. This area has drop ceiling, painted drywall
partitions, carpeted floors, 12 gallon electric hot water heater and separate 100
amp service. The pet grooming area of approximately 750 square feet is accessible
from a door by the loading dock or an outside stairway at the northeast corner of
the building. The other office, approximately 100 square feet is only accessed
by an outside stairway on the northwest corner of the property.
400 Market Street is a one-story brick faced block storefront with
approximately 1551 square feet of area. The building is heated by gas fired steam
heating and has 200 amp electric service.
The first floor has a large l-shaped display area and a smaller listening
room with additional displays. There is a storage area, office area and two piece
bathroom. Walls are painted, floors are carpeted, and the store area has a
dropped ceiling. Wall mounted air conditioners provide cooling and an enclosed
walkway connects this building to the building at 370 Market Street.
The basement, which contains four large work areas, is rented by one tenant.
Heat is provided by two gas forced area systems and there is a separate 200 amp
service. Floors are concrete and there is an old style two piece powder room.
:)70 & 400 Varktt St.. luoyn., PA
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VALUATION PROCESS AND SCOPE OF APPRAISAL
The purpose of this appraisal is to estimate the market value of the fee
simple title to the subject property. The goal of the valuation process is a well
documented and supported value conclusion that reflects the appraiser's study of
all factors that influence the market value of the property being appraised. In
order to do this, the appraiser usually studies a property from three different
view points which are typically known as the three approaches to value. They are
as follows:
1. The Cost Approach whereby the current cost of reproducing or replacing the
improvements less the loss in value from depreciation equals a depreciated
cost of improvements. To this depreciated cost of improvements, the value
of the land is added to arrive at an indication of value.
2. The Sales Comparison Approach is that approach to value whereby the subject
property is compared to other recent sales of comparable properties to arrive
at an indication of value.
3. The Income Capitalization Approach looks at the earning power of the subject
property, its income of anticipated future benefits and capitalizes this into
an indication of value.
Information for the application of the three approaches to value is obtained
from the market through research and analysis and it should be noted that the
approaches are interrelated. Separate indications of property value are usually
derived from each approach.
MARKET ANALYSIS ANO SPECIAL CONSIDERATIONS
In the
marketability
following:
valuation process, market factors which relate directly to
of the subject property were considered and included in the
1 . The current oversupply of new and used space of equal or
superior quality which is currently available in the Greater
Harrisburg area.
2. Rent concessions which are currently available in competing
space presently for lease.
3. The high availability of vacant sites which would permit
construction of new facilities.
370.. 400 "..,.II,t 5t.. lnoyn., PA
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COST APPROACII
Approach through which an appraiser derives a value indication of the fee
simple interest in a property hy estimating the cur'rent cost to construct a
reproduction of or replacement for the existing structure, deducting for all
evidence of accrued depreciation from the cost new of the reproduction or
replacement structure, and adding the estimated land value plus an entrepreneurial
profit. (The Dictionary of Real Estate Appraisal Second Edition, Page 72).
Reproduction cost will be used in this appraisal and may be defined as:
The cost of construction at current prices of an exact duplicate or replica
using the same materials, construction standards, design, layout and quality of
workmanship and embodying all of the deficiencies, super adequacies and
obsolescence of the subject building. (The Dictionary of Real Estate appraisal
Second Edition, Page 254).
The Cost Approach is based on the proposition that a knowledgeable buyer
would not pay more for a property than the cost of building a new property to the
same utility.
The Cost Approach to value consists of the following steps and includes the
valuation of the land:
1. Estimate the value of the land as though vacant and available
to be developed to its highest and best use.
2. Estimate the reproduction cost of the bUilding on the
effective date of appraisal.
3. Estimate the amount of depreciation in the structure
including physical deterioration, functional obsolescence and
external obsolescence.
4. Deduct the estimated depreciation from the reproduction cost
of the structure to estimate the buildings contribution to
value.
5. Estimate the depreciated cost of other structures and site
improvements.
6. Add the depreciated value of buildings, other structures and
site improvements to the site value to arrive at an
indication of value by the Cost Approach.
Cost Approach figures were obtained from Marshall Valuation Service
and/or local contractors. The Cost Approach was considered but not used due to
the age and condition of the improvements and difficulty of estimating
depreciation.
310 & 400 ""'ht St.. l..oyn., PA
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INCOME CAPITALIZATION APPROACIt
Approach through which an appraiser derives a value indication for income-
producing property by converting anticipated benefits, Le., cash flows and
reversions, into property value. This conversion can be accomplished in two ways:
One years income expectancy or an annual average of several years income
expectancies may be capitalized at market-derived capitalization rate or a
capitalization rate that reflects a specified income pattern, return or
investment, and change in the value of the investmentj secondly, the annual cash
flows may be discounted for the holding period and the reversions at a specified
yield rate. (The Dictionary of Real Estate Appraisal Second Edition, Page 156).
This type of income producing property is normally purchased for owner
occupancy or as an investment. As a result, the earning capacity of this property
is an important ingredient in estimating its value. Investors who purchase this
type of property trade their present dollars for an income flow of future dollars
plus the return of their investment at some future date.
The Income Approach consists of the following steps:
1. Estimate the potential gross income of the property.
2. Add additional income from other sources.
3. Subtract the typical market derived rent loss that occurs
from vacancies, credit losses and collection problems.
4. The resulting number is the effective gross income (E.G.I.)
5. From the E.G.I. subtract normal operating expenses, fixed
expenses and reserves for the replacement of short lived
building components.
6. This results in the net operating income (N.O.I.)
7. Develop a direct capitalization rate. In this appraisal, the
band of investment-mortgage-equity technique will be used.
8. Divide the N.O.I. of the property being appraised by the
appropriate capitalization rate which gives an indicated value
by the Income Approach.
These steps are presented on the following pages for both 370 and 400 Market
Street.
:170 a 400 t.I.rktt St. I L,.orne, PA
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INCOUE CAPITALIZATION APPROACII - ICont' dl
GROSS INCOME ESTIMATE
In order to estimate the market rent for the subject property as though
unencumbered by the existing leases, properties currently leased and currently for
lease were studied. lessor, lessee and specific addresses are not shown as the
information is of a confidential nature. The following were the most relevant:
RENTAL STUOY - COMPARABLE COMMERCIAL LEASES
1. A commercial building at 435 Bridge Street, New Cumberland, PA is leased
for a five year term with lease terms being $1,700 per month the first and second
years, $1,765 per month for the third year and $1,665 per month the fourth and
fifth years. Rentable area was 2,734 sq. ft. or $7.46 for a considerably inferior
building.
2. A commercial building at 732 Market Street, lemoyne, PA is leased for
$1,740 per sq. ft. per month or $20,660 per year or $7.00 per sq. ft. leasable
space was 3,100 sq. ft. and was considerably inferior to the subject building.
3. A commercial building at 4700 Carlisle Pike, Mechanicsburg, PA is leased
at $2,500 per month for a 2,400 sq. ft. building or $12.50 per sq. ft. of
building. This is in a superior location but is an inferior building.
4. A commercial building at 4425 Jonestown Road, Harrisburg, PA is leased
at $15 per sq. ft. or $46,320 per year on a net basis with gross building area
being 3,068 sq. ft. This is a five year lease with 3-5 year options.
5.
sq. ft.
per sq.
An office condominium at 2142 Market Street, Camp Hill, containing 1,000
is leased on a gross basis except janitorial for $6,000 per year or $6.00
ft. on a one year lease.
6. 1,770 sq. ft. of office space at 214 Senate Avenue, Camp Hill is leased
for $36,500 per year on a gross basis which translates to $10.00 per sq. ft. of
building.
7. 5012 lenker Street, Mechanicsburg contains 1,616 sq. ft. of office space
that is leased for five years on a gross basis of $9.00 per sq. ft. of rentable
area.
8. 3438 Trindle Road, Camp Hill contains 2,437 sq. ft. of first floor
office space that is leased on a gross basis of $12.00 per sq. ft. for 3 years
with 2-3 year options. This space included credit for 3.5 months of free rent.
370 l 400 Uarht St.. l,.orn., PA
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INCOME CAPITALIZATION APPROACII - ICont' dl
370 Market Street Valuation bv Income Annroach
I have selected the Band of Investm~nt Technique for deriving a
capitalization rate. This technique is based on the premise that the market value
of investment real estate is affected by the availability and terms of mortgage
money, equity buildup and a return that counts for risk and return on and of
equity capital.
I have set forth a possibility of a 6% mortgage interest rate with 75% loan
to value ratio for a term of 15 years. An investor contributing the balance of
25% would be attracted to an investment with an 8% return which results in an
overall rate of 10.59%.
This technique is set forth as follows:
MORTGAGE EQUITY CAPITALIZATION
75% MORTGAGE. 8% INTEREST. 15 YEARS
Equity
WEIGHTED
PORTION RATE RATE
.75 x .1146 = .0859
~ x .08 = .0200
1.00 .1059
Mortgage
Weighted Average
BASIC FUll TERM CAPITALIZATION RATE .1059
Net Operating Income: $14,290 + .1059 = $134,936.62
ROUNDED
$135,000
:no a 400 Un~.t It. I l..oynt, PA
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INCOUE CAPITALIZATION APPROACH . ICont'dl
400 Market Street Valuation bv Income Approach
Estimated Potential Gross Income
Storefront
Basement
Total Estimated
1,000
493
Potential
INCOME ANO EXPENSE SUMMARY
per month x 12
per month x 12
Gross Income
12,000
5,916
17,916
less Vacancy and Collection loss 5%
Effeotive Gross Income
less Expenses
Fixed Expenses
Real Estate Taxes
Insurance
896
17,020
1,500
--.M!.Q 2,000
Variable Expenses
Management and leasing Fees 5%
Heat and Utilities
Snow Removal
Repairs
Reserves for Replacement
Heat unit, Roof, etc.
Total Expenses
651
2,500
500
1.000 4,851
500
7.351
Net Operating Income Before Debt Service
370. 400 Ibrk.t St., L..o)'n., PA
$ 9,669
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INCOUE CAPITALIZATION APPROACII - /Cont'dl
400 Market Street Valuation bv Income Approach
I have selected the Band of Investment Technique for deriving a
capitalization rate. This technique is based on the premise that the market
value of investment real estate is affected by the availability and terms of
mortgage money, equity buildup and a return that counts for risk and return on
and of equity capital.
I have set forth a possibility of a 8% mortgage interest rate with 75% loan
to value ratio for a term of 15 years. An investor contributing the balance of
25% would be attracted to an investment with an 8% return which results in an
overall rate of 10.59%.
This technique is set forth as follows:
Mortgage
MORTGAGE EOUITY CAPITALIZATION
75% MORTGAGE. 8% INTEREST. 15 YEARS
WEIGHTED
PORTION RATE RATE
.75 x .1146 = .0659
~ x .08 = .0200
1.00 .1059
Equity
Weighted Average
BASIC FUll TERM CAPITALIZATION RATE .1059
Net Operating Income: $9,669 + .1059 = $91,303.12
ROUNDED
$91,000
310 & 400 U.rht st.. L..o)'nl, PA
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SALES COMPARISON APPROACIl
The approach through which an appraiser derives a value indication by
comparing the property being appraised to similar properties that have been sold
recently, applying appropriate units of comparison and making
adjustments, based on the elements of comparison, the sale price of the
comparables. (The Dictionary of Real Estate Second Edition AIREA, Page 265).
In applying the Sales Comparison Approach, the appraiser takes the
following steps:
1. Researches the market and selects the sales and/or listings of
properties most comparable to the property being appraised.
Generally, the most current and similar comparable sales prove to be
best indicators of the value of the subject.
2. Collects and verifies data on each selected property' s selling and
listing prices, dates of sale, physical differences, locational
characteristics and any special conditions.
3. Analyzes and compares each property with the subject as to time 0 f
sale, location, physical characteristics, conditions of sale and
other differences.
4.
Adjusts the
between it
extractions
sale or listing price
and the subject.
and/or judgement.
of each comparable for differences
Adjustments are based on market
5. Reconciles the adjusted prices of the comparable properties into an
indication of value of the property being appraised.
In an effort to arrive at value indications by the Sales Comparison
Approach, sales of reasonably similar properties in surrounding areas were
studied. Our research included both East & West Shore municipalities.
Numerous sales were studied, as well as, current listings and properties
under contract. Only the most comparable sales have been selected for inclusion
in this report. Verification of sales information with realtor, grantor,
grantee and court house records was conducted where possible.
Each comparable property was compared to the subject property and
adjustments were made for significant differences. The adjusted price of each
comparable indicated a value range for the subject which was then reconciled
into a single value indication via the Sales Comparison Approach. On the
following pages is the Sales Comparison Approach for 370 and 400 Market Street.
370 . 400 Uarktt St., L..o.,nt. PA
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SALES COMPARISON APPROACIl - ICont'dl
Valuation of 370 Market Street. lemovne
COMPARABLE SALES
This approach yields an indication of value by comparing recent sales of
similar properties, and making adj ustments for time, location, physical and
other differences. Among the area sales reviewed were the following:
Imoroved Sale 1
Grantor
William Schultz and Robert C. Schultz, Jr.
Grantee
Candace Sunday
Tax Map No.
19-23-0567-162
Location
122 West Main Street, Mechanicsburg, PA
Improvements
Three story store front with four apartments with
gas fired hot water heat. Three 1-bedroom
apartments, 1 efficiency and 1 commercial store
front. Gross building area is 2,906 sq. ft.
Lot Size 45' x 200' = 9,000 sq. ft.
land to Building Ratio 3.10
Date Sold March, 1994
Consideration $90,000
Price per SF of Bldg. $30.97
Verification of Sale Realtor and public records
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SALES COMPARISON APPROACIl - ICont'dl
Valuation of 370 Market Street. lemovne
Improved Sale 2
Grantor
Vincent B. and Betty L. White
Grantee
Debra Ralph
Tax Map No.
18-23-0565-061
location
23 East Main Street, Mechanicsburg, PA
Improvements
Store and two apartments with main building
having 3,700 sq. ft. To the rear of the building
was a 5,536 sq. ft. storage building. This
property is superior to the subject as to
condition and superior as to the large second
storage building. Sold on a sales agreement at 7%
interest for five years.
lot Size 34' x 200' x 47' X 200' = 8,100 sq. ft.
land to Building Ratio 2.19
Date Sold May, 1995
Consideration $160,000
Price per SF of Bldg. $43.24 (main building only)
Verif ication of Sale Realtor
370 & 400 Uuht St., L,.orn'l PA.
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SALES COMPARISON APPROACII - ICont'dl
Valuation of 370 Market Street. lemovne
Improved Sale 3
Grantor
Victor and Juanita P. Reda
Grantee
Roger H. and Jane R. Ackerman
Tax Map No.
19-23-0567-052
location
101-103 North York Street, Mechanicsburg, PA
Improvements
Two and one story commercial building used as
Mechanicsburg Beverage with retail, warehouse and
apartment unit. Building contains 6,813 sq. ft.
This building is larger than the subject but is
inferior as to condition.
lot Size 76' x 119' irregular = 9,044 sq. ft.
land to Building Ratio 1.33
Date Sold July, 1994
Consideration $240,000 Deed Book 106, Page 1076
Price per SF of Bldg. $35.22
Verification of Sale Public records
:170' 400 U&rk,t St., L..oyn., PA
22
e.og03c.t
.........
.-.
SALES COMPARISON APPROACH - ICont'dl
Valuation of 370 Market Street. lemovne
Imoroved Sale 4
Grantor
Deborah S. and Gary K. Maurer
Grantee
David E. and Debra E. Ralph
Tax Map No.
16-23-0565-003
Location
10 South Market Street, Mechanicsburg, PA
Improvements
Three story aluminum over frame store front with
two apartments with gross building area being
2,736 sq. ft. Subject is superior as to location
and inferior as to condition.
lot Size 24' x 50' = 1,200 sq. ft.
land to Building Ratio .44
Date Sold January, 1995
Consideration $64,000 Deed Book 117, Page 953
Price per SF of Bldg. $30.70
Verification of Sale Public records
370' 400 Uark.t at" L..o)'"., PA
23
6 .Q903C.,
'""""\
......
SALES COMPARISON APPROACH - ICont' dl
Valuation of 370 Market Street. lemovne
SALES COMPARISON ADJUSTMENT GRID
PRICE PER BlDG ADJ PRICE PER
SF OF BLDG TIME LOCATION SIZE CONDITION FINANCING SF OF BLDG.
Sale 1 30.97 +10 0 -5 0 0 32.51
Sale 2 43.24 +5 0 -20 +5 -5 36.75
Sale 3 35.22 +10 -10 -10 +10 0 35.22
Sale 4 30.70 +5 +5 -5 +5 0 33.77
The adjusted prices per sq. ft. of building extend from a low of $32.51 to
a high of $36.75. The mean is $34.56. With greatest weight on Sales 2 and 3,
the estimated value for the subject property is $34.50 per sq. ft. of building.
Therefore,
3,902 sq. ft. @ $34.50 per sq. ft. = $134,619
Rounded to
$135,000
370 II 400 U".k,t 8t,. l..oynl. PA
24
6.0ll03C.,
t".
.-,
r
SALES COMPARISON APPROACII - ICont'dl
Improved Sale 2
Grantor
Grantee
Tax Map No.
location
Improvements
lot Size
Date Sold
Consideration
Price per SF of Bldg.
370 & 400 Uarktt St., L..o,n., PA
Valuation of 400 Market Street. lemovne
Janice C. Lindgren
G. Martin and Susan K. Eichelburger
13-23-0551-030 and 26
3130 Morningside Drive, Camp Hill, lower Allen Township,
Cumberland County, PA
One story office building with ample parking. Building
contains 2,769 SF and was of good finish and in good
condition.
lot 1 169' x 150' = 25,350 SF
lot 2 50' X 129' = 6.450 SF
31,800 SF
March 1. 1995
$205,000, Deed Book 119, Page 69
$74.03
26
e.OQ03C.1
.....~.
"
-
~
r"o
SALES COMPARISON APPROACIl - ICont'dl
Valuation of 400 Market Street. Lemovne
Improved Sale 3
Grantor
Kenneth Keller
Grantee
Chester P. Hoffman
Tax Map No.
01 22 0536 016
Location
2009 Market Street, Camp Hill, Cumberland County, PA
Improvements
Two story detached aluminum and frame former dwelling and at
the time of sale contained three large rooms and bath on the
first floor. The property is in need of renovations. A block
building is at the rear of the site. Main building contains
1,896 sq. ft.
lot Size
60' X 223' x 60' x 220' = 13,290 sq. ft. or .31 acres
Date Sold
September 1, 1994
Consideration
$125,000
Price per SF Bldg.
$65.93
Verification of Sale
Appraised the property and court house records
:170' ..00 Uarklt St., l..oyn., PA
27
IH)903C.1
\
.-..
..-..
SALES COMPARISON APPROACfl - ICont'dJ.
SALES COMPARISON ADJUSTMENT GRID
BlDG FINISflED CONDITION ADJ PRICE
PRICE/SF BlDG DATE/SALE lOCATION SIZE BASEMENT APPEAL SF BLDG.
Sale 1 75.36 0 .20 0 0 0 60.29
Sale 2 74.03 0 -10 0 +10 -10 66.67
Sale 3 65.93 +10 .25 -10 +10 +10 62.63
Sale 4 85.95 0 -15 +10 .10 -10 64.46
Reconciliation
The sales listed on the above grid after adjustments indicated adjusted prices
per sq. ft. of building which extended from a low of $60.29 to a high of $66.67. The
mean of these four sales indicated an adj usted price per sq. ft. of building of
$63.51.
With greatest emphasis on Sales 1 and 3, the indicated price per sq. ft. of
building for the subject is estimated to be less than the upper end of value and at
$62.00 per sq. ft.
Therefore,
$62 per sq. ft. @ 1,551 sq. ft. above grade
Rounded to
= $96,162
$96,000
Value indicated by Sales Comparison Approach as of May 15, 1996 is
NINETY.SIX THOUSAND....($96,OOO).....DOllARS
:1I70 & 400 Uat'ht St" l,.or'nl, PA
29
l!I.og03C.,
,
-..
,--...
IIECONCIl.IATION
The indications of value as developed by the three approaches to value are as
follows:
Value indicated by the Cost Approach
Values indicated by the Income Approach
370 Market Street
400 Market Stroet
Value indicated by the Sales Comparison
370 Market Street
400 Market Street
Not applicable
$135,000
$ 91,000
Approach
$135,000
$ 96,000
The cost factors used in the Cost Approach have been developed from local
contractors, Marshall Valuation Service, as well as, but not limited to, my experience
as an appraiser and realtor, which reflects the local present cost of construction.
The Cost Approach generally will result in an excellent estimate of value if the
building is new or reasonably new, and the improvements reflect the highest and best
use of the land. However, when items of physical deterioration and obsolescence must
be estimated, an area of judgement is involved which is subject to error. As the
buildings are old, this approach is not used in this appraisal due to the difficulty
of accurately estimating depreciation.
Generally, purchasers of commercial and office buildings are more concerned with
the income the property will produce rather than its reproduction cost. There has
been sufficient market data to provide reliable and factual information to develop a
good indication of value on the Income Approach. The ability of the property to
continue to provide a reasonable return and the competitive position of this
investment were considered. Most purchasers of income properties, similar to the
subject, take into consideration tax shelter through depreciation seeking a long term
real estate investment and/or retirement fund and do not hesitate to pay a little more
for an income-producing property such as the subject property. Market study indicates
purchasers of this type property are expecting an 6% return on equity with an
expeotation of future market appreciation. The Income Approach to value indicated the
following values:
370 Market Street $135,000
400 Market Street $ 91,000
Weight is given to the Market Approach which reflects the reactions of the
typical buyers and sellers in the market place. Sales of 4 properties were well
documented and analyzed. Greatest weight is given to this approach to value with the
following value indications:
370 Market Street $135,000
400 Market Street $ 96,000
:170.. 400 Yuklt $t.. L..oyn., PA
30
6'00OJC.'
.-.,
,..-....
aRlIFlCATIOH ~ BTATOENf Of UY1TINl ct'lNlITIOt<<J
CERTlFlCAIION: Thl Appratur- ctrtHi.. ,~d .gr... thollt:
t. Thl Appr'l"" h.. no pr..,,,t or cont.~pl.t.d tutu'" Int.,...t In tht prop.rty .ppr'l..di .nd "11th,.. the .~ploy~.nt to ..k, the
Ipprdul, nor thl COlIptr1UUOtl tor H, I' eMUnglnt upon the .apprdud vdue of thl property.
2. lht App,..i..,. hat no perianal intl,."t In or blat ..ittl ""Plct to tht tubj.ct Il.attlr for tht ,ppratul riper' or tht p.rUclp.ntl
to the ute. Ihl "[aUlutt 01 IIlrklt valu'- In tht appraisal raport II not baud In ..hole or In part upon thl r.c., color, Of" national 0"1;1"
ot tht proapaeth, own.,.. or occupant. of Ii'll property apprdud, or upon the r.e., color or ".\10"11 origin of thl pr..t"t 0'/'1"'''' or occupant.
of Iht prop.rUn 1n th, ...lc1nity or thl prop.rty .ppralurj,
:I. Tilt '-ppr'lltr 1'1,. ptr.on,lly In.ptcttrj tilt proptrty, both lnsldt ,nd out. 'nd hn ..Irjt.n uttrlor In.ptctlcn of all CCWllp.lr.lbh uln
thUd ln thl rtport. To th. but ot the Appr.1ltr'. knod.dg. .1nd b.U.f. all .t.lt.",.nh and lntonuUon ln thl. nport arl trut and co"rlet,
,nd thl '-ppr'h.r 1'1011 not knowlngl)' ..1Ihl'ldd any ItgnHlcant lnfoNl.1Uon.
., All conUnglnt ,nd 11JllUng cond1Uons arl contdn.d htr"1n (1l!lpotld by tht t.nal ot thl IIltgnllllnt or by the und.r.ign.d .fhcUng
th. analyat., opinlon.. and conclu'lon. cont.ln.d 1n th. npo,.t).
5. Thl. .pprai.al r.port 1'111 bttn ludl In contOf"Wlit)' ,,1Ih .nd 11 .ubt,ct to the r.~ulr'!'lI.nt. of th. Cod. of Prohulonll Ethic. .nd
Bund.rd. of Prohuional Conduct ot the .ppraiul orgulluUcnl wUh w'llch th. Apprdllr 1. ,fUlhted.
IS. All conclullOFlI .nrj oplnlonl cone.rning th. r.al IIt.1t, that .III'" I.t forth in the .ppr.h.1l rlport ..r. pr.p.r.rj by th. Appraittr
.mo.. 11gn.tur. ,ppllr. on th. .ppralul r.port. unll11 indicated at .A....h'" Apprd..,... No chang. ot .ny it.. in the .ppraiul r.port .h.ll
b. ..d. by .n)'on. oth.r th.n th. Apprat..r. .nd thl Appralu" Ih.ll 11.1.... no rtlpOllllbUUy to'lr .ny luell un.utllorJ.nd ch.ng..
CONTIPoGENT AM) LIUITl~ CONDITIO"'5: Th. ClrUUcaUon ot the Apprat..r .ppearJ.ng ln th, ,ppratul rlport h lubjlet to th. tellOl'lllng condlUcn.
.nd to lueh oth.r IP'CJ.UC .nd H1II1Ung ccndltion! II '1'" ut to,.th by the Apprat..r ln the rlpo,.t.
1. Thl Appr.h.r IIIU1ll11 no rnllontJ.bllUy tor Matt.r. of . hgal naturl .fhcUng th. prop.rty .ppr.lnd or th, tith th.rlto, nor
dotl the Apprdur r.nd.r .ny cplnlon u to tht tUh. 'flhlch .11 1I11I1II.d to b. good .nd lIa,.k.tabh. Th. prop,,.ty 11 .pprah.d at though und.r
rnponeJ.bh O'/IfI\.r.hlp.
2. My Ik.tch J.n th. r,"ort Ill')' IhO'o'r .pp,.edut. dilll.nlJ.onl .nd i. inelud.d to .lIht thl rud.r ....hu.UzJ.ng the prOIl'rt)'. Th. Appralur
hU .,d. no .ur.....)' of the prop.rt)'.
3. Thl Apprdur 11 not re~\Iir.d to ;1'1' tll\11110"y or .ppear ln court b,c,uII of ha...ln; Mad. the appr.l111 ...Uh rlhr.ne. to the prop.rty
1n qUIIUon. unhll .rr.ng...ntl ha.... bUn pr....lou.ly rude th.rlfor.
.. My dlltrlbution at the ...aluation In th. report b.hl..n hnd .nd ll1pro......ntl appUII only und.r the ..hUn; progru of uuUuUon.
Th. IIpar.t. ....alu.Uon. 1'or land .nd buildJ.n; mUlt not b. und In conjunction 'flUh .ny oth.r .pprdul and .r. In....1lid it 10 uI.d.
5, Th. Apprdnr .nu... th.t th.r. '1'" no hldd.n 01" un.pp.r.nt eondUlons of the p"op.rty. .ub.oU. or ttruetur.., 'flhlch "'ould rlnd.r
it .or. or 1111 ....alu"blt. Th. Apprdllr USU1UI no ruponlibllUy for lueh condiUon., or for .ngln..rl"; ...hieh might b. r.qulr.d to dlleo,.1"
.ueh factOI"',
15. Infonution. IItUi.tll, .nd OPinion. furnllh.d to the Appr.l..r. .nd contdn.d In th. r.port. ...r. obUln.d frClll 10urCII con.id.r.d
r.lhbll .nd b.U.....d to b. true and eorr.ct. HOl'II.....r. no ruponllbUUy for .ccur'" of .ueh UUI furnhh.d th. Apprdur c.n tit "'II".d tly
the Appra1ur,
7. ClIclolurI of the content I ot the .ppra1.ul r.port 11 go....rn.d by th. B1h". .nd R.guhUonl of the prohnlcnal .ppr'lul
organizauonl "Uh lI!hleh the Appralllr IS affUht,d.
I. N.ith.r all, nor .ny part of the cont.nt of the r.port, or cop)' th.r.of (Including conclutlonl II to the prop.rty vdu.. the id.ntlty
of th. Appr.U.r. prohnlonl1 dul;naUcnl, rlhr,ne. to an)' prohltlonal .ppralul org.1nlzatlont, 01" the UnJ ..Uh ",hleh the Appr.U.r 1.
ccnn.ctll~). .hdl b. uud for an)' purpOII b, .n)'on. but the elitnt Ip,eifi.d in the r.port, th. borrow.r 11 .ppralul f.. pdd b, IU', the
.ort;'g" 01" J.h .uee.nor, and anlgFlt, aort;.g, lnlur.rl. conlultants. prohulonal .ppralul org.nlzationl. 01" .ny .t.U or hd.rllly approud
fin.nchllnIUtution. .ny d.partl!l.nt, 'glney. or in.trum.nUUty of the Unit.d St.t.. or "ny It.tI 01" the 011trlet ot COlU!lIbh, 'flUhout the
pr....J.ou 'flrJ.tt.n COn lint ot th. Appralnr; nor Ih.11 it b. eon....)'.d b, an)'on' to the public through .d....,.Ulln;. public r.hUonl. n....t. ulll.
or oth.r ..dl., "ithout the 'flrltt.n con lint .nd appro....l of the AppraJ.nr.
9. On .11 ,pprduh. lubl.ct to utlthetory cCllllpltUon, r.pdr.. or alt.ratlonl, the IPprahal r.port and ...du. conclullon .r,
continglnt upon cOlllpl.Uon of the impro...llIr.ntl 1n . 'florl<.nlanl1k. lIIann.r.
ENVIAC""'ENTAL OrSCLAluEJ\: Th. ....du. ..Unt.d In thll r.port 11 baud on the ulu"'ption that th. prop.rt, 11 not n.gath.ly afhct.d by the
.dltlne. of hll.rdoul .ublt.nclI or d.trJ.lIItntll ,fl'IironllltnUl condition., Th. .ppraiur 11 not an I.p.rt lr the ld.ntUlc.tion at h.zardouI
lub.t.nCII or d.trltl.ntal .n...lronlllntal conditlonl. Th. .ppr.htr'. routine J.n.p.cUon or .nd ln~ulrl11 .bout the lubJ.et prop.,.ty did not
d.velop .ny lnforaation th.t lndlcat.d .ny .pp.r.nt .1gnitJ.cant hazardoul Iubltanc.. 01" d.trlll1.nUl tn...lronll,nUl condlUonl 'flhlch 'flould .fhet
the prop.rty n.g.tiVlly. 1\ h poulblt that tut. and insp.ctionl ..d, b, . qud1fl.d h.zardou. .ublt.ne. and Invlron..nul I.pert 'flould r.....al
the 1l1lt.nc. of h.zardoul .aterills and .nvlronll.ntal condition. on or .round the prop.rty that 'flould ntgathtl, "het ih vdu..
AOOITIOt-W. CERTIFICATION: Th. Apprdnr furth.r c.,.UUu th.t:
l. Thll ,pprdul eonfO"'1 to the Unitorll St.ndards or Prohulonal APprdul P""cUc. l-USPAP-) adopt.d b)' the Apprallal St.ndard.
Board of the Apprahal FoundatiOn. lIe.pt th.t th. O.partur. Pro...h1on of the USPAP dOli not .pply.
2. Thl1r COlllp.nuUon 11 not conting.nt upon the r.porUng of . pr.d.tlt'tIlln.d valu. or dlr.eUon In value th.t fa...orl the cau.. of the
olllnt, the uount of the vdu. "UIII.te. the ath1nl'lllnt of a ltipulat.d ruult, or the occurr.nc. of . lubu~u.nt .....nt.
3. Thlt .pprat..l 1It10n..nt 'flll not band on . r.~ultt.d 1II1n1"'u1ll valu.tion. . IP.elUc ....aluation, Dr the .ppro....al of a loan.
S1;n.tur,
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O.t.
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370 & 400 Wark.t St., L'lIIo,n., PA
32
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D ,." !iolHI'JIlIIMI nrSH'(ljllM
D ,." COtlSlll/tlllflll "("'lIl1IT"" ZONING MAP
[;!!I '0 ArAlH1,lt'11 unlet
- COUl.lfllCIAl BOROUGI I OF LEMOYN E
m III Oll " "".\ I CUMBERLAflO COUNTY. PENNSYLVANIA
- I" I'HlUS'''''M IoIUtl1(lfAt
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(27, 800)
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(27, 800)
Article 8
C Commercial District
800. Use ReRulations. A building Inay be erected and used
and a lot may be used or occupied for any of the following
purposes and no other:
1. Permitted Uses and Structures:
A.
B.
C.
Stores and personal service shops for the
conducting of any retail business;
Banks, offices, post offices;
Theatres, auditoriums, gymnasiums, assembly halls,
bowling alleys, swimming pools, skating rinks,
billiard or pool parlors and similar indoor
recreational facilities;
Parking lots and parking structures;
Restaurants, tearooms, cafes, and other places
serving food or beverages;
Bakery, confectionery, dressmaking, laundry, print-
ing, tailoring, dry cleaning and similar establish-
ments and businesses of a similar type which are
not more objectionable with regard to noise and air
pollution, traffic control and customer control
than the establishments and businesses enumerate
provided all goods or products manufactured or
produced to be sold at retail on the premises;
Public garage, automobile service station and auto-
mobile washing;
Electric substation and telephone central office;
Mortuaries and funeral homes;
Private schools conducted for a profit;
Clubs, lodges and fraternal organizations;
Municipal buildings;
Motels and hotels;
Animal hospitals and pet shops;
Retailing of building supplies, including lumber
yards;
Retail sales and related installation of automobile
parts and accessories;
Medical and dental clinics and laboratories;
Warehousing for on site retail business;
Multi-story apartments, the first and second floor
of which may include or be entirely used for
commercial purposes. Parking satisfactory to the
Governing Body must be provided;
Churches, synagogues and similar places of worship;
Auto body shop, automobile and/or mobile home sales
garage and automobile and/or trailer sales lot.
D.
E.
F.
G.
H.
I.
J.
K.
L.
M.
N.
Q.
P.
Q.
R.
s.
T.
u.
,
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.-..
(27, 800, cont'd)
(27, 800, cont'd)
2. Permitted AcceRnory Ullell and Structures:
A. Accensory uneu and ntructuren customarily
incidental to the permitted use.
3. Prohibited Uses and Structures: No building may be
erected, altered or used for any purpose that is
noxious or injurious by reason of the odor, dust,
smoke, gas, vibration, illumination, or noise or
otherwise creates a nuisance or hazard to public
health, safety or welfare. Prohibited uses in this
district include but are not limited to the following:
A. The incineration, reduction or storage of offal,
animal, fish or similar objectional refuse;
B. The manufacture of gunpowder, fireworks, or other
explosives, excepting as may be a by-product of
other manufacturing operations, in which event all
regulations of the Middle Deparement of the Fire
Underwriters shall apply;
C. Industrial uses, abattoir and stockyards;
D. Dumps or dumping of any kind;
E. Automobile wrecking yard;
F. Blacksmith shop and machine shop;
G. Carpet cleaning establishments;
11. Processing and storage of structural materials;
I. Storage, sorting or bailing of junk, scrap metal,
paper or rags;
J. Coal yards.
801. Area ReKu1ations.
1. No minimum, however, each lot or lots shall be suffi-
ciently large to accommodate the proposed structures,
uses, loading areas, parking areas and all other re-
quired service and open areas.
2. Width _ No minimum, however, there shall be a space
between non-adjoining structures of at least (5) feet.
802. Yard Re~lations.
1. Front Yard _ a setback of at least ten (10) feet from
any public right-of-way shall be required. Offstreet
parking in this area must be such that no vehicle is
within five (5) feet of the right-of-way or property
line.
.., ... ,.. .~ ..... ..., ... .
~
(27, 800, cont'd)
(27, 800, cont'd)
2. Side yard - the Ilidc yard of the building ahall not be
less than ten (10) feet for each side yard.
3. Rear yard - not required.
4. Buffer yard - see Article 10, Section 1017.
803. Lot Coverap,e. Not more than sixty-five percent (65%)
of the area of each lot may be occupied by buildings.
804. lIeip,ht Rep,ulations. No structure shall exceed forty
(40) feet.
"
805. Offstreet Parkinp,. See Article 12.
806. Sip,ns. See Article 13.
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lUluh" with ,II and ainll.ltu Ih. bwlJinlt, l'rj,jl,"U, hUltllumr"" JlIII 'l'llullfluncCI "hallDeur thcfluato
bcIonsin.. or in tnywla. .ppctuininl. ,"d tll. """iOM .nd um.inJm, rrnlt. iul.lu InJ proliu thrrroh Uld .11
th, uUlt. ,j,llt, tide. lotuen, propC'uy. claim .nd drmmJ _hauonrr or it, Ihe nil' Grantor
tidier in law or equity, 01, In .ncl to the unit.
IDa lluue UUll to 1111111 ,h. lI;d m"'U'~' or "OC"..",
pirce or lround .bo'fc d,sc,ibtd, hrrcdiumrnll .nd prr"oil" hmb)' lranlrd.
menlionrd. or Introded 10 to be, with the 'rrunen.nen. unto th, uid G ran tee,
Ind lot 01
bUJ.inrd and lohl. or
thoir heirs
,
Ind luian.,10 and lot the 001, proprr ust .nd bthoof or the uid Grantee, their heirs
Ind .ni,M' lornu.
And the uid put,. ulthe tint pitt lor iutlf .nd iu luccwon. doc. IlUeby coun"nt "nd "Iree to and
whh the ..id Grantee, their heirs
the uid PUI,. 01 ch, 'Nt. put .nd hi .ueettlon, III
a"purnnaneCl, IIn10 dw laid CrAntoo, the! r
.nd anilM, that it
and .inluhr 1he uid hereb,. ~unted, premiset, with tM
ludro
and Inisnt, 1~lintt. it t~e uid p"n,. 01 the fine pHI and iu lucernon. Ind 1~linlC all and eYery 01hrr petlon
.nd pcnonl wllomlonu I.wlully claiminl or to claim 1he unle or Iny plU thereol
~1t1111 unll mill m,u'l'unl unlllJlul'eUrr IDefrnll
by Ihm prtlUJoU
i\nl\
the uid
do.h
hereby connitutt IDd Ippoint
10 be iu atlorney, (or It and In iu name, .nd U Ind for iu eorrcult: act Ind dctd to aclmowledl' Ihit deed
belore Iny penOD hlYiD& luthority b,. the lawl of the Commonwealth of Penn1ylYlnil 10 uke tueh Icknowleda.
menl, to the .lnlent'thu t.he ume mlY be duly recorded.
....."'"..,\, . ", .
~wlll!.I"r'-.'
.JJ~.J8l'~~11Y}t11Ierrnf .h. ..ld West Shore Sovinqs ond Loon Association
. ~.._ o~pp'n:' ". ~', :'\: h.. eluled thi. Indenture to be .ilned by ill PmiJent, sttcmd by lu Scenes.,.,. IDd
.;:. (i t. ., 1 . ,. , ~.. . h
:.. : ~ ,,~_._ ~ ~ ,.. ~ 'Vt IDiuJ hereunto the common snJ corponle Inl or the uid Corpouuon. t It the
.;r..... 0: - . fl': .' .
, ....: ",. :'.' 17. ." , -,. aut .00ud hereto It Ihe lul of uid Corpouc;on, that It WUIO stllltd by order or
. ., .' : .., iii I
. ~ '., 119.12 ~ .. _"; : , Ihe Boud 01 Dircctou of uid Corrotalion. and Ihll Ihey .il:ned their nlmet hetelC'
;p '" .' ..
. 't. ........... ,...- by like ordrr, Ihe dlY end yur firn abon wriuen.
....(1'0,"'.'...- WEST SIIORE SAVpIGS' AlID LO)\tI ASSOCIATION
. "....... ....., --7J. ",'../: ,:!,,:,.., .t.'(.~.......:..
~I,nr~~ ~~;;r:r:~(~:I;ycrtd jOy......... :.,~:....~.....:....'...c.........:"._....7.._......r;;;jd~~.;:.-
Allen:
..".._..~.._..~~-~.._................. ..~.~~~y,~ .......................-.............
.............._......................._............................. Stttllsry.
Tho address of the Grantco herein
18 cortified to be J70 Market Street,
t.l:!moync,~ I'i\/ 1704).
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SitU al
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proohlont ul W~nt r.hof(' fll\vlflf'" "nel I.onn hnnoclntlun,
, corporation, .nJ ,nil he.u lu~h l'feR ill,'nt . l'll"' lutllOflUJ lu lIo IU. urcuuJ ch, 'offloinl
Inurumen' lor ,~t rurro,n thutin CClllfJIIlf'll ~t "&nlR~ II" n.nl;,o!,jJ #rontia: "J}'imu ~I ('I r08 idon t.
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him. Jekno1\'l,d,;,J lilt uid d<<d to bt tht JC! Ind dt'tJ
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in the )'eu of our Lord. one IhouunJ
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"in' hundred Jnd
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Giyen under my hand Jnd un uv;he uk! Ofl'icr. tilt dut JblH't .riUln,
Ir.CRETARY
Rrcord",
~..::J~~
&OO~ rm 949.
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111-.0110 <> C'=} [.. ,I.. ~::;,o~})+Y~:o\f(
.m!lt~; Jn~~Rtntfutt~
.M.NJE'1'lI/I' ------ 31111 ---'_""/1 "f --p- Ppn'lId",.. ------ ill Iht! llcar of our
Lord OIlC thousalld lIilll) IlIIlIdr,'d 1111" lI('vPllly (1 'rIO),
~thuttn
WILLIAM A. WIlA\' a lid NANA I,:. \vIlAY
-----------------------
(ha";II"fl,'r ",,/ifod Ih" (,'Tlllllor 11), of tilt! onc part, ami
WILLIAM A. WRA \', NYflA E:. \VilA Y, NANA ELIZABETH
DESTEFANO, FRANl< J. DESTEFANO alld NANA ELIZABETH DESTEFANO,
TRUSTEE for WILLIAM WRAY, JR., U/A dOlled Decelllue.. 31,1970 ___u______
(hcreillafler cal/,'d tilt! (lralll,!() II), of thc othcr part,
~ihttggtH~, That the said Grall lor s
for al/(l in ('(llIsic/eration of the .~It1n of
ONE ($1.00) DOLLAR ______________u_u_________________________u lawful
money of the United States of .'Imerica, unlo well and truly paid by the
said Grantee B , at or before the .~ealinl! and deli/lcry hereof, the rcceipt whereof is
hereby acknowledded, dranted, bargained ami sold, rf'leased and cOllfirmed, alld by
the presents - - - do - - - - - grall t, barguin anci sell, relcasc unci cOllfirm unto the said
Grantees, ___u_ their heirs ____ alld assigns,
ALL THAT CERTAIN piece or parcel of land situate in the Borough of Lemoyne,
Cumberland County, Pennsylvania, more particularly bounded and described as
follows:
i BEGINNING at a point on the southern side of Market Street on the eastern line of
j lands of Rae Handler, which point is at the line dividing Lots Nos. 115 and 116 on
the hereinafter mentioned Plan of Lots; thence along said Handler lands south
five (5) degrees east one hundred forty-five (145) feet to a point on the northern
line of a twenty (20) feet wide alley; thence along the same north eighty-five (85)
degrees east thirty-five (35) feet to a point on the western line of Lot No. 117 on
said Plan; thence along the same north five (5) degrees west one hundred forty-five
(145) feet to a point on the southern line of Market Street; thence along the same
south eighty-five (85) degrees west thirty-five (35) feet to the Point of BEGINNING.
BEING Lot No. 116 on the Plan of Lots known as Plan No.6 North Riverton re-
corded in the Cumberland County Recorder I s Office in Plan Bo.ok I, Page 101.
HA VING THEREON ERECTED a two-story brick building containing storerooms
and apartment,s, previously Nos. 366 and 368 Market Street, Lemoyne, Pennsylvani ,
presently 370 Market Street, Lemoyne, Pennsylvania.
ec(:~X 23rm S'18
1.!t11l\dhn lI'illl fill fllld Sill.illlllr till'
. ,- ..'" "
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flgllfs, llll/'rllf's, pr/l'llf'l!f's, h"""lIlfl/lll'"ls IIl1d "/'/mrl"II"III"'S, "'1111.""'1"'1' 111110 tI",
hert'illll!ralll.'d Ilrl'lI/i.~/!s IIdllll:!ill!!, or ill fllIlI lI'iSI' "/'/"'rl"illill:!. IIl1d Ihe rel'/'rsi/llls
III1t1 "'II/11illtlf'I'.~, r"lIt.~, i.~SII"S, III111,,,,,/lIs Ihf''''''(: II"tI IIl1 Ih.. /'sllll.. ri,fhf lill,'
. I I ' I I ' ~ , ,
/111t're.~ ,Pl'llIIt'rlll, I' /1l1l/1II1t / I'III11I1t1 lI'I",lsI"'I','r o( till' sIIitl r:nllllors
fI.~ Il'ell tll Ifill' fI.~ in /lqlli/II, ol, ill, IIl1d 10 till' .~III1I". '
\1;1' 1.~I''Ut nub to ~&11h till' sIIitl 1,,1 01' I,i"f'" "l :!/'IIlIlId IIIH1I'/' d,'s/'ritJt'd
h /,,/'d i I II/II ell I .~
and premise.~ herelJY :trallled, or 11I/'lIti,,",'d, 11",1 illl/'lltI,'d.w fo III', lI'ilh Ihe "1Ipllr-
tenllnee.~, unlo Ihe .wid (lrante/'s, __________u their hcirs ----- tI"d as.~i:tns.
to and (or the ollly proper /lS/.' IIl1d 1I/'hoo(o( till' .~IIid (lralll,'l's, their --------
___n___ hcirs and assil!lIs (orel'''',
Provided, that thc intercsts of thc Grantccs shall bc as tcnants in common. in thc
following proportion:
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William A. Wray
Nana E. Wray
Nana Elizabcth Dcstcfano
Frank J. Dcstcfano):1I1.
Na na Eli7.a bc th Dc s tcfa no.
Trustcc for William A.
Wray, Jr.. U/A datcd
Dccembcr 31, 1970
300;. I
300;.
100;.
100/0 !
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~~,~ the said Grantors. for thcmselvcs, thcir ______nn________________n__
______________________________________________________------------- heirs;
e.\'ecutors CWd adll/illistralors du /'''''1'11/11I1, promise ClI,tI agree. lu and with the
said Gralltee s, ____ thcir heirs ---- alld assiglls, by Ihesc prcsents, that they ,
. the said Grantors alld ______u___ their ___n______ heirs, alla!/d
.~illgular the hereditamellt.~ allCl premises herellll grail led ur mentioned alld intencled
so to be. with the appurlellallces, Ullto Ihe said GrclIllees. their heirs
and assil!ns, against thcy, thc said Grantors, their _______n_____________J_._
lleirs, allel a:tainst all and ellery per.wlI alldll('rSf)II.~ II'humwet'er lllw(ully claiming or
to claim the same or /IllY part thereof. /JY. (1'011I or IIl1der thc said Grantors ,
or any 01 them, shall ancllllill
W.1RR.1;"T and (oreller DEFE,,nJ.
~n ~nitnt~~ :it1lJ?trtof, the parlics of the first part ______ n____ "erellll~o set
__on their _____ lwllclsc/IIci seals. Dated Ihe ciay /llIci year /i rs I. above wrrUen.
~i.9ntb $tllldl tmb ~rli'l.,trt~
in tilt l'!'tJl;t3\tt of
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<I;.\\U\IU .,f p;atrP!II'V 00.
On this, the - __ _ 31st _ _ _ dl/Y"! De <:"11 1.'1; 11/70, h"lor" 1I1/~. Ill/~ IllId",.~il!lIl'd Onlcer,
persollallyt/ppeared WILLIAM A. and NANA J.:. \VitA" _uu___________uuu_
known to lIIe (salisluclori/YIJTIII"'II) III lit' Ih,' IIf'r.wII H II'!/(/.H~ 1It/IIICS i3c(artl) sllb-
scribed to the wit/lin illstflllllf'lIl. I/lld 1/,'klloll'/,'d:!ed Ihl/I they c.rel:uted the .mllle
lor the pluposes thereill Cllll 1.1/;11 ,'d,
~n ~illltlUS ~I~trta'lf. I h""'"11111 .wt /l/Y hI/lid I/lId ollicial scal.
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Stote of Ponnsylvania } S5
County of Cur1bcrl~nd
1\3ct'rc'::d ill 1:',) "rHc'.! for t~e far.ord1ng of D~ods,
ak,-jJ1, and }IJ~ \.urn6(dJl:d CC: 11 It, Pa. ..' /
_ ;R ~\_'<l~ _X_ v.)!. .c2.-dL Page J:ZJ
\',';IIIJ:'.:; my hand ;"nJ st'. of oHicc, ill
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Cadisb, Pa. this 't!a~ of ~719 ZL..
880
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1 sl Floor
31 '4" x 1,1)'6" . 1551 S'I 1'1
Bascmcnt
31 'I," x 1,9'6" . 1551 S'I Ft
Total BuUding Arcn 3,102 S'I Fl
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<- :11'4-"--+
IIf
.,5 orr
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Slorllgc
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IlIltll'lny
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I-hlk""y
1l1sI'Iny
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41)'6"
31'1,"-).
.51 r
Work Work
^rcn Area
49'6"
'';ork \~ork
Area Arca
IlASEN ENT
W II ^ Y I'IIOI'ERTY
I,OIl 'Iarkel Sl
I.emoy nc, I'^ I ]0I.:l
Colelllnl fllllS
1st F1.00R
30'9" x 34'
30'1" x 1,9'
Total
a I,OM, S'I FI
lllI 1/.7/,
2,520 Sf' Ft
211d FI,OOR
30'1" X 45' a 1,35/, S'I 1'1
Total Above Grade 3674 :lqrt
8ASEN ENT
30'9" X 34' a 1,0/,6 SII 1'1
30'1" X 1,5' a 1.154
Total 2,40U SII FI
Finished Area 646SqFt 35%
Tota I lIu I Id j IIg Area (>,271, SII 1'1
.-..
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1111 A \' PROPlnlT\,
3711 Narkel Sl n'el
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,--..
GEOIIGE C. CLAUSEll, SRA
PA STATE CERTlFIEO GENERAL APPIIAISEII
3920 MAIIKET STIIEET
CAMP ItILL, PA 17011
(717) 737.7300
QUALIFICATIONS
GEORGE C. CLAUSER
EXPERIENCE
Real Estate:
July 1968 February 1972 licensed full time Real Estate
Sales Agent . Dougherty & Twigg Real Estate
February 1972 _ November 1972 Licensed Real Estate Broker
Dougherty & Twigg Real Estate
Real Estate Aooraisals:
November 1972 . November 1973 . Licensed Real Estate Broker
Aopraiser Trainee, Joseph McGraw, MAl
November 1973 . April 1973 - Licensed Real Estate Broker
Associate Appraiser, Joseph McGraw, MAl
April 1963 - May 1993 - licensed Real Estate Broker
Associate Appraiser, lester G. Connor, MAl
May 1993
Real Estate Appraisals
. Established George C. Clauser
Aotively engaged in the real estate appraisal profession on a
full time basis (100%) since November, 1972.
PROFESSIONAL QUALIFICATIONS/DESIGNATIONS:
Pennsylvania Real Estate Brokers license No. RB-025261-L (Certification
date Maroh 30, 1972)
SRA - Member of the Appraisal Institute No. 1300
Designated Fee Appraiser - Veterans Administration (1977).
Designated Fee Appraiser. Federal Housing Administration (1976)
Pennsylvania State Certified General Appraiser Certificate No. GA000233L
i
-,
r-:.
PROFESSIONAL MEMIJERSIllP !AFFllJ{I.LLQN5.
Member of the App,'a1Ga Linn ti lut", Con tr'a L Ponnsy Ivania Chapte'" . SRA
MAl oondidato.
Notional Association of Real tor'n . G,'oatll" lIarl'1sbu"1l 1J0ard . Realtor
Education Statement . .1he Appraisal Inntitute conducts a voluntary
program of continuing education for its
deGignated membe,'s. MAIs, SRPAs & SRAs who meet
the minimum standards of this program are
awarded poriodic educational certificates..
I, George C. Clauser, am currently certified
under the SRA program.
PARTIAL CLIENT lIST:
Harris Savings Bonk
York Federal Savings & loan Assn.
Dauphin Deposit Bank & Trust Co.
C.C.N.B. Bank. N.A.
Fulton Bank
Commonwealth National Bank
PA State Bank
Commerce Bank
. lender's Service, Inc.
Veterans Administration
Federal Housing Administration
Members. Penna. Bar Association
Prudential Relocation Management
Transamerica
Homequity
Equitable Relocation
Nationwide Insurance Company
Associates Relocation Management
Relocation Resources
Coldwell Banker Relocation
Executrans
Dauphin National Bank
Navy Federal Credit Union
E.I. Dupont De Nemours
The 1I0mestead Group, Inc.
Chemical Executive Reloc.
lIomestead Savings Assoc.
Allstate Mortgage Corp.
MGM Mortgage Co.
Record Data, Inc.
PA State Employees Credit
Corestates-Hamilton Bank
Hamil ton Bank
Brokers Mortgage Service
Commonwealth Mortgage Corp.
lIoward Relocation Group
Spring Grove National Bank
GMAC Mortgage Company
City Federal Mortgage Co.
Employee Transfer Corp.
Defense Act. Fed. Credit Un.
lJanc Plus Mortgage Corp.
United Federal Bank
Parent Federal
11
,.-.
.-.,
QUALIFICATION SIIEEl
EDUCATION:
lebanon Volley College, Annville, PA
B.S. in Economics and Business Administration
Appraisal Institute
Standards of Professional Practice A
Standards of Professional Practice B
American Institute of Real Estate Appraisers
Real Estate Appraisal Principles lA-1
8asio Valuation Procedures lA-2
Capitalization Theory and Techniques 1MB
Narrative Report Writing
All courses necessary to complete the SnA Designation
All courses to complete Pennsylvania State General Certifioation
PROFESSIONAL MEMBERSHIP/DESIGNATION:
Pennsylvania State Certified General neal Estate Appraiser HGA.000233.L
Pennsylvania Real Estate Broker (License RB.025061.L)
Senior Residential Appraiser (SRA) with the Appraisal Institute and MAl
Candidate
REAL ESTATE EXPERIENCE:
1973-1983
1968-1973
George C. Clouser neal Estate Appraisals
Associate Appraiser, lester G. Connor, MAl, Camp Hill,
PA
Associate Appraiser, Joseph McGraw, Inc., Lemoyne, PA
Sales Associate, Dougherty and Twigg Real Estate
1993-Present
19B3-1993
TESTIIIONY:
Cumberland and Dauphin County Courts
Tax Assessment Appeals
Civil litigation
Local Municipalities . Zoning Meetings
Hi
~,
~
1.2. l'.tin.c.ip,aL.Clrf.ice- and _PlacLoLll,usiness. The
principal office and place of business of the Partnership shall
be 370. Market Street, Lemoyne, Pennsylvania 17043, or at such
other location as may hereafter be determined by the Partners.
1.3. Iexm. The term of the Partnership shall
commence as of the date of execution of this Agreement and
shall terminate twenty (20) years and one (1) day hence unless
the Partnership is sooner terminated or dissolved in accordance
with the provisions of this Agreement or by operation of law.
1.4. ~>-theJ:JlJ.tsj_nuLoiJar_tJlUJ". Except as otherwise
specifically provided herein, nothing in this Agreement shall
be construed to prohibit the Partners, or any of them, from
conducting or carrying on any other business or trade, whether
alone, with each other, or with third persons, and whether or
not similar to or in competition with the business of the
Partnership, and neither the Partnership nor the Partners shall
have any right by virtue of this Agreement in or to such
independent ventures or to the income or profits derived
therefrom.
1.5. ~Qp~i~~thQJjJy. Except as otherwise
expressly provided herein, none of the Partners shall have any
- 2 -
-.
,...,.
Property; to act in all other respects as the owner of the
Partnership Property; to finance and refinance, by mortgage or
unsecured loan or any combination thereof, such activities; and
consistent with its objectives of investment for income and
appreciation, to sell, transfer, exchange. or otherwise dispose
of part or all of the Partnership Property all under the terms
and conditions hereafter set forth and provided the same shall
not be prohibited hereunder or under the laws of the
Commonwealth of Pennsylvania.
ARTICLE III
Capital Contributions and Partnership Interests
3.1. Capital Contri~tions. The Partners shall make
capital contributions at such times and in such amounts as
Partners owning a majority in interest of the Partnership shall
agree. provided that such additional capital contributions
shall be made by each Partner in accordance with the following
percentages:
(a) Nana E. Wray 42.8571%;
(b) William E. Wray, Jr. 28.5415%;
(c) Nana E. Wray DeStefano 28.5714%;
or in such other amounts proportionate to their respective
- 4 -
.~
,.....,
"
3,5. P~~ing-At~Qunt~. An individual drawing account
shall be maintained for each Partner. All withdrawals by a
Partner shall be charged to that Partner's drawing account.
Withdrawals during the year shall be limited to such amounts as
the Partners. by a majority vote, shall determine from time to
time. Each Partner's share of any Partnership net loss shall
be charged to that Partner's drawing account, unless the
Partners by a majority vote agree to charge the loss to the
capital accounts of the Partners. Each Partner's share of
Partnership profits shall be credited to that Partner's drawing
account. The Partners may determine by unanimous vote to
transfer to Partnership capital all or any portion of the
credit balances in the drawing accounts of the Partners. Any
amounts transferred shall be in the proportions of the
Partners' interests in profits or losses of the Partnership.
3.6. ~~lances in D~~~~~. A credit balance
in a Partner's drawing account shall constitute a liability of
the Partnership to that Partner; it shall not constitute a part
of that Partner's interest in the capital of the Partnership.
A debit balance in a Partner's drawing account. whether
occasioned by drawings in excess of her/his share of
Partnership profits or by charging that Partner for a share of
Partnership loss, shall constitute an obligation of that
- 6 -
--...,.
..-..,
Partner to the Partnership; it shall not reduce the Partner's
interest in the capital of the Partnership. Such obligation of
a Partner shall be treated as a loan by the Partnership to the
Partner and shall bear interest at the rate specified in
Paragraph 6.6 of this Agreement and shall be repaid to the
Partnership on demand of any Partner.
ARTICLE IV
Profits and Losses
4.1. Allocati~ns: Deter~~ation of Profits and
Losses. Each item of income, profit, gain, loss, deduction,
credit and other items of tax significance shall be allocated
to and shared by each Partne~ in accordance with their
respective percentage interests in the capital of the
Partnership. Profits and losses for all purposes of this
Agreement shall be determined in accordance with the accounting
method followed by the Partnership for Federal Income Tax
purposes, except that any adjustments made pursuant to Section
743 of the Internal Revenue Code of 1986, .as amended, shall not
be taken into account. Every item of income, gain, loss,
deduction, credit or tax preference entering into the
computation of such profit or loss, or applicable to the period
- 7 -
~
-"'
the Partnership as shall be necessary for the efficient
carrying on thereof and shall cooperate with each other in
achieving Partnership goals.
ARTICLE VI
Transfer of Partnership Interests,
6.1. Transfer to Spou~~d/or Is~. Any Partner
may transfer, assign and conveyor give, devise and bequeath
all or any portion of such Partner's partnership interest by
testamentary or inter vivos transfer to said Partner's spouse
and/or issue provided that the transferee(s) of such
partnership interest shall execute an amendment to this
Partnership Agreement agreeing to be bound by the terms hereof.
6.2 ~ath or. Wi~~r~~. Except as provided in
Paragraph 6.1, upon the withdrawal or death of any Partner, the
remaining Partner shall either purchase the entire interest in
the Partnership of the withdrawing or deceased Partner, or
terminate and liquidate the Partnership business. For purposes
of this Agreement, a withdrawal from the Partnership shall be
deemed to have occurred when a Partner terminates his/her
employment with or transfers or assigns his/her common stock in
- 9 -
~
~
Wray's Music House, Inc. except an inter vivos or testamentary
transfer of such stock to spouse or issue.
6.3. ~ba$~->>Y-All_RemaiDi~g_p~J~e~. If all
remaining Partners elect to purchase a deceased or withdrawing
Partner's interest in the Partnership, each of the surviving
Partners shall have the right to purchase a pro rata share of
the Partnership interest. In the event the remaining Partners
do not desire to purchase their pro rata share of the
Partnership interest, each Partner shall purchase that share as
is agreed upon by the remaining Partners.
6.4 ~~~JllQn. If the remaining Partners do not
elect to purchase all of the interest of the deceased or
withdrawing Partner in the Partnership, the remaining Partners
shall proceed with reasonable promptness to liquidate the
business of the Partnership. The surviving Partners and the
estate of the any deceased Partner shall share in the profit
and losses of the business during the period of liquidation in
the same proportion in which they shared such profits and
losses prior to the death of the deceased Partner. A
withdrawing Partner shall not share in any profits, but shall
share in losses incurred during the period of liquidation.
- 10 -
~
,--..
(,.5 Ac.q\,li_sj_t iOJLOLlnteI_es_t.oLLDeCe_<\s_ed~k
Withdra~g~aLtne~~kthas~-PJJ~~. In the event the
remaining Partners elect to acquire the interest of the
withdrawing or deceased Partner, the purchase price for a
Partner's Partnership interest hereunder shall be that
Partner's proportionate share of the net value of the
Partnership assets less all liabilities of the Partnership as
determined by the certified public accountants regularly
retained by the Partnership as of the date of death or
withdrawal determined as follows:
(a) In order to determine the net value of
Partnership property, all outstanding liabilities of the
Partnership as of the date of retirement or death (determined
by the Partnership's certified public accountants, on an
accrual basis, in accordance with accepted accounting
principleS and practices historically used for the Partnership
by the Partnership's certified public accountant), shall be
deducted from the gross value of all Partnership property. In
order to determine the gross value of all Partnership property,
the book value of all Partnership personalty, tangible and/or
intangible, as of the date of death or withdrawal (determined
by the Partnership's certified public accountants, on an
accrual basis, in accordance with accepted accounting
principles and practices historically used for the Partnership
- 11 -
--..
,.
by the Partnership's certified public accountants) shall be
added to the value of its real estate either as endorsed on
Schedule "B" attached hereto and made a part hereof, within
three years preceding the date of retirement or death, or, if
no such value is endorsed on Schedule "B" hereto within three
years prec~ding the date of death or withdrawal, then as
determined by the appraisal method hereinafter described in
Subsection 6.3(b).
(b) If no value of the Partnership's real estate is
endorsed on Exhibit "A" hereto within three years preceding the
date of death or withdrawal and if the remaining Partners and
deceased Partner's representative or the withdrawing Partner
are not able to agree upon the value of the Partnership's real
estate within sixty (60) days immediately following the date of
death or withdrawal, the remaining Partner and the deceased
Partner's representative or the withdrawing Partner each shall
select an appraiser who shall be a member of the Appraiser's
Institute. Each such appraiser shall fix a fair and reasonable
market value, as of the date of death or withdrawal, which
values shall be averaged and constitute value of the real
estate. If either party is dissatisfied with the value so
fixed, then, upon written notice to the other party and to the
appraisers, the said duly selected appraisers shall agree upon
a third appraiser who shall also be a member of the Appraiser's
- 12 -
-,
,........
Institute, and such third appraiser shall proceed independently
to fix a fair and reasonable marKet value as of the date of
death or retirement. This value, if between the figures set by
the first appraisers, shall be binding on the parties hereto,
otherwise the average of the three appraisements shall bind the
said parti~s. The appraisers' fees shall be paid one-half by
the remaining Partners and one-half by the deceased or
withdrawing Partner.
6.6 Ats.uisition of IntlLr~sj;-9iJ...e..C.fised or
Withdrawing Partner: Method of Payment. Twenty (20%) percent
of the purchase price of the deceased or withdrawing Partner's
interest in the Partnership shall be paid within thirty (30)
days of the determination of the fair marKet value of the
Partnership real estate. The balance of the purchase price
shall be paid in three (3) egua1 annual installments commencing
,
one (1) year after the initial payment. The Obligation shall
bear interest as of the date of death or the date of
withdrawal, as applicable, and shall be secured by a promissory
judgment note executed by the Partnership and the remaining
Partners. The interest rate shall be determined pursuant to
Section 1274(d)(1) of the Internal Revenu~ Code of 1986, and
shall be the federal mid-term rate determined under Section
1274(d)(2), plus one (1%) percent, at the time of determination
as provided hereinabove.
- 13 -
-
6. 7 l'.<u.-me~i1>_to_-'ontJmte. Under no ci rcumstances
shall the transfer by a Partner of his Partnership interest,
the repurchase of the interest by the Partnership. the
withdrawal of a Partner, or the admission of a successor
Partner operate as or cause the termination of the Partnership
for federal income tax purposes; and if necessary. a
withdrawing Partner's right to withdraw. transfer or otherwise
dispose or alter his interest shall be restricted to that
portion of his interest, if any, which will prevent the
Partnership from terminating under Section 708(b)(1)(B) of the
Internal Revenue Code.
6.8 ltilJ..anc..LinJ>J."_awing-AccQlUlt. The balance in the
drawing account of a deceased or withdrawing Partner is to be
treated as an obligation of the Partnership to the Partner or
an obligation of the Partner to the Partnership. as the case
may be. Any amount owed, whether to the Partner or to the
Partnership. as reflected in the drawing account of a deceased
or withdrawing Partner shall be paid within ninety (90) days
after the death or withdrawal of such Partner.
,
r
6.9 Dissolution of ~_bliL~~. Notwithstanding the
provisions of Item 6.4, in the event the Partnership is
dissolved, the rights and obligations of each Partner,
. .
- 14 -
~
~
Partnership according to generally accepted accounting
practices. Each of the Partners shall be entitled at any
reasonable time to examine such books and records in person or
by agent and to make copies or excerpts therefrom.
9.3. ~~g. As soon as practicable after the
close of each fiscal year. the Partnership shall obtain at
Partnership expense a complete operating statement prepared by
an independent certified public accountant which shall show all
usual operating data for the Partnership for the preceding year
in accordance with good accounting practice. Such operating
statement need not be audited or certified except at the
request and the expense of any Partner or Partners. Each
Partner shall receive a copy of the Tax Return as soon as it
shall be available. Each Partner shall, upon request, receive
copies of all reports and communications recorded by the
Partnership.
ARTICLE X
General provisions
10.1. Indemnif~~~. Each Partner shall be
indemnified by the other Partner and held harmless against and
from all claims, demands, actions and rights which shall or may
- 18 -
.-..
~
arise by virtue of anything done by that Partner outside the
scope of, or in breach of the terms of this Agreement;
Provided. that the Partner against which indemnity is sought
shall be promptly notified of the existence of the claim,
demand, right or action and shall be given reasonable
opportunity to participate in the defense thereof, and further
provided that failure to give such notice shall not affect such
Partner's obligations hereunder, except to the extent of any
actual prejudice to him resulting therefrom.
10.2.
. . .
Equltable Rellef.
Each Partner acknowledges
and agrees that the remedy at law for any breach of any of the
terms of this Agreement would be inadequate. and agrees and
consents that temporary and permanent injunctive and other
equitable relief may be gran~ed in any proceeding which may be
~
brought to enforce any provision hereof. including with such
other equitable relief specific performance. without the
necessity of proof of actual damage or inadequacy of any legal
remedy.
10.3. Construction. Wherever the context so
requires, the feminine gender shall be substituted for the
masculine, the masculine for the feminine or the neuter for
either; the singular shall be substituted for the plural and
- 19 -
~
---
vice versa. Paragraph headings are for convenience only and do
not constitute a part of this Agreement.
10.4 Notices. All notices or other communication
pursuant hereto shall be in writing and, unless otherwise
specifically stated herein, shall be deemed given when
delivered or deposited in the United States Mail, Certified or
Registered Mail, return receipt requested. Rejection or other
refusal to accept notice or the inability to deliver mailed
notice because of a changed address which no notice was given
shall be deemed to be receipt of notice. Until changed by
appropriate notice to the Partners, notice shall be addressed
to the Partners at their addresses as recorded in this
Agreement.
10.5. Bindi~gJ~~' The covenants and
agreements herein contained shall inure to the benefit of, and
be binding upon, the parties hereto and, to the extent
permitted by this Agreement, to their successors and assigns.
10.6. Entire A&J~~~' This Agreement contains the
entire understanding among the parties. There are no
representations, agreements, arrangements, or understandings,
oral or written, between and among the parties hereto relating
- 20 -
.
-,
r-.
to the subject matter of this Agreement which are not fully
expressed herein.
10.7. G2Ye~~g-LaH. The Partnership and this
Agreement shall be governed by, and construed in accordance
with, the laws of the Commonwealth of Pennsylvania.
IN WITNESS WHEREOF, the parties hereto have hereunto
set their hands and seals the day and year first above written.
~~ ~(' ~
ltn ss
,/Q,AA~fj ('~
Witne
tOJk.~ ({ ('~~
Wi tnes,S
A[V.\)IO [l. 12.111
~
COM.MONWIAL1H Of P[NNSl'IVANIA
INHIII1ANCI 'A. .nUIN
__ _._ ~__~~S_~Dl!4!"D.~~!_~~~'
ESTATEOF-----------
WRAY, NAN A E.
,--,
-
~
SCHEDULE G
TRANSFERS
PlfA~f P~'NI O~ IYPE
. FILE NUMBER
21-96-0549
THIS SCHEDULE MUST BE COMPLETED AND FILED IF THE ANSWER TO ANY OF THE QUESTIONS ON THE REVERSE SIDE OF THE COVER SHEET IS YES,
ITEM
NUMaER
1.
2.
3.
4.
-.----------.------- -.-.---- --....._- .-------
DECO 0- - -DoliAR.VAlUE' - -
.. OF DECEDENT'S
INT._. ___'N_1!R.~T.___.
_________._______.___..u ._.___ ~'.-____'_' ~._.. ~----. -.--. ---- ,- --.
DESCRIPTION OF PROPERTY I EXCLUSION : TOTAL VALUE
'"clur:l. no," 0' Ih, "0"1'''''' ,"'.., ,.Iol,()luh,p fa dtc.d.nl, do" 0' ftO"I'" I OF A5Sn
._______._________--;0._________ -'--r'- ,- .--- -----.. ~ ..._0___'
Prudential Securities -
Retirement Account (IRA)
Account No. 044-R34223-K3
Beneficiaries:
William A. Wray, Jr., Son
Nana E. \~ray DeStefano, Daughter
Date of death balance, plus
accrued interest
Gift to William A. wray,
January 1, 1996
Amount: $10,000.00
Jr., son -
7,000.00
$ 25,650.43
Gift to Nana E. Wray
January 1, 1996
Amount: $10,000.00
DeStefano,
3,000.00.
I
,
daughter
i I
, i
:3,000.001
I I
I '
i I
13,000.001
! !
7,000.00
7,000.00
Gift to Kay wray, daughter-in-law
January I, 1996
Amount: $10,000.00
.
TOTAL (Aha ,nit' on Ii,., 7,~.!f~?~'~~,~c:~t~!....,~_~_l.~~9~~_3_
(" mor. Ipot. il ""d.d, inl.ff ocld,honollh..'1 0' lorn, lIlt.'
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lIV'lhtlh I'''' J
,,~i~~l\ l~~ SCHEDULE H
~" FUNERAL EXPENSES,
- "" ADMINISTRATIVE COSTS AND
COM....ONWUUH Of '(NN~nVANIA.
ItmUllANC( l,u .(tU.r~ MISCELLANEOUS EXPENSES
IUIOlN1 DICIOINT
- -.
ESTATE OF
WR/\Y, N/\N/\ I'
..
ITEM DESCRIPTION
NUMBER
A. FunDral Expenllll
1. ~lusselman !'unera I Ilane - crellnt:ion chilrges
B.
1.
2.
3.
A.
C.
1.
2.
3.
A.
5.
6.
7.
8.
Plea.e Print ar Type
FILE NUMBER
21-96-0549
Administrative Ca.t"
Personal RepresenlalivD Commiuions
Sacial Securily Number af Pellanal Repre.enlalive:
Year Comminion. paid
Allo/ney Fee. - Johnson, Ou[ fie, St:ew'lrt & Weidner
Family Exemplion
Claimanl
Addren of Claimanl 01 decedenl'. dealh
Slreel Add/en
Cily
Relalionlhip
Slale
Zip Code
Probale Fees -Register of \1ills - Cumberland County
MIscellaneau. Expen...:
Cumberland Law Journal - advertise letters
The Patriot-News Co. - advertise letters
Chuck Bricker, /\uctioneer - household goods appraisal
Dan aarninqer & Assocs. - real estate appraisal
R. Wm. wire Associates, P.C. - Pilrtnership and corporation
valuations with supporting documents.
George C. Clouser - appraisal of Partnership real estate
No. 370 & 400 ~~.rket St., Lemoyne
Register of wills - file Inventory & Inheritance Tax Return
Reserve for close-out costs
(Sub-Total fran additional sheet attached) -
TOTAL (AI.a enler an line 9, Recapilulalion)
(II more space Is needed, in.ert additlanal shee" 01 same slxe.)
AMOUNT
1,143.72
8,000.00
375.00
60.00
79.00
60.00
225.00
1,635.00
1,200.00
25.00
175.00
2,458.13
S 15,435.85
.._.~- --
....- .
t" ~ .
~ 'l~nlllh 1'111
,,~!~9l\ SCHEDULE H
-~- FUNF.RAl EXPENSES,
COM.~ONWUt1H Of f'[NNS'fLVANI" ADMINISTRATIVE COSTS AND
IUHun"'NCI u.. l[TUIN MISCELLANEOUS EXPENSES _ _ P!eas. Print or Typ.
USIOINI DECEDENT
ESTATE OF I FilE NUMBER
WR/\Y, N/\N/\ I'~
.. 21-96-0549
ITEM DESCRIPTION AMOUNT
NUMBER
A. Funoral Expens..:
1. ~rnssel~'n Puneral \lane - crclmtion charqeR 1,143.72
B.
1.
2.
3.
A.
C.
1.
2.
3.
A.
5.
6.
7.
8.
Administrative Cast"
Personal Represenlative Commissions
Social Se,urily Number of Perianal Represenlative:
Year Cammi..ians paid
Allorney Fe.. - Johnson, Duffie, Stew'Irt & Iveidner
Family Exemplion
Claimanl
Addre.. of Claimant at de,edenl" dealh
Slreel Addre..
Cily
Relationship
Slole
Zip Code
Probole Fe.. -Register of Ivills - Cumberland County
Mistellaneous Expense"
Cumberland Law Journal - advertise letters
The Patriot-News Co. - advertise letters
Chuck Bricker, /\uctioneer - household goods appraisal
Dan Barninger & I\ssocs. - real estate appraisal
R. Wm. wire ~qsociates, P.C. - partnership and Corporation
valuations with supporting documents.
George C. Clouser - appraisal of Partnership real estate
No. 370 & 400 ~arket St., Lcmoyne
Register of wills - file Inventory & Inheritance Tax Return
Reserve for close-out costs
(Sub-Total fran additional sheet attached) -
TOTAL (Also enler on line 9, Re,apilulalion)
(II more spa,. Is needed, Insert additional shoots of sarno sl...)
8,000.00
375.00
60.00
79.00
60.00
225.00
1,635.00
1,200.00
25.00
175.00
2,456.13
S 15,435.85
.'......~~ --
,
-
~
"'''''"''''''.
(()IollllONWIAUH Of 'IN"'."V"...I,\
INMU'fANCI'''' _HuI...
In'0INl01ClOI"'1
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES AND LIENS
PI.a.. Print .r TVp.
FILE NUMBER
21-96-0549
ESTATE OF
WR^Yr N^N^ g.
ITEM
NUMBER
DESCRIPTION
AMOUNT
2.
3.
Johnson, Duffic, Stewart & wcidner - scrvices rcndered
prior to dcath (review Will, Living Will & Power of Attorney)
Suburban Cable - decedent's account - final charges
Bell Atlantic - decedent's account
$
150.00
1.
13.54
72.6B
TOTAL (AI.. .nler on line 10, Recopitulation)
(II mor. space ;s nuded, insert oddifiona' Shfffs 01 sam. sin.'
s
236.22
'-.
,...
'hltl).1t 1111)
~:J~'~.,
-.-..VW
(OMMO"'WIIoI'" 01 "NJollflYAN14
11'4"11""1'4(1'.... ..fUIH
IUIDI..fDICIDIHf
L SCHEDULE J
B,ENEFICIARI_ES
ESTATE OF
WRAY, NI\NA F..
FILE NUMBER
21-96-0549
N~"J.~ER NAME AND ADDRESS OF BENEFICIARY
RELATIONSHIP
AMOUNT OR
SHARE OF ESTATE
A. Taaable Beques":
1. Nana E. Wray DeStefano
221 Glenside Lane
Camp Hill, PA 17011
Daughter
One-half
Persona I
property,
one-half residue
2. William A. Wray, Jr.
91 Skyline Drive
Mechanicsburg, PA 17055
Son
One-half
personal
property;
one-half residue
ITEM
NUMBER
NAME AND ADDRESS OF BENEFICIARY
AMOUNT OR
SHARE OF ESTATE
B. Charitable and Governmental Bequosts:
1.
TOTAL CHARITABLE AND GOVERNMENTAL BEQUESTS (AIIO enler on line 13, Recopilulolion) S
(1/ moro .poco II noodod, In.o" addUlonol .h.." 01 .amo olIO)
.;;J I - litl - 5'-1Cj
!'I.EASE m.E TillS I{E!'Oln WITIII;"; TWO \'EAHS OF DATE OF DEATlI I{E(;AIWI.ESS OF
TilE STATUS OF TilE ESTATE. IF ESTATE IS ;";OT ('O:\I!'I.ETEIl. FILE n (t.l2 F(m:\1 n:,\Iu.\'
U;";TlI. Cmll'l.ETION
STATl'S REPORT l'\'DER R l 'I.E 11.12
:'\amc or ()ccc'dcnl: _~^~0__~__~~flY______
Datc'orlkath: ~li1Y 15, 1996
Will No.:
0549
.-\dmin. :'\0.:
Pursnalllto Rnle ('.12 or thc Snprcmc Conrt (lrphans' Courl Rules. I rcporlthc li,lIowing with rcspcd
to complction or the adminislration or the ahtll'e.captioncd estatc:
I. State whether administration or the eslate is complete:
Yes X No
2. If the answer is No. slale when the personal reprcsentatil'e rcasonably beliews
that the administration will be complele:
3. If the answer to No. I is yes. stale the rollowing:
A. Did the personal representatil'e !ile a !inal account with the court'!
Yes No
B. The separate Orphans' Court No. (ir any) for the personal representatil'e's account
is:
C. Did lhe personal representatiw stale an account informally 10 the parties in
Inlerest'! Yes X No
D.
Copies of receipts. releases. joinders and approl'als of formal or informal accounts
may be liIed with the Clerk of the Orphans' Court and may be attached to this
report.
Date:
(!{~r78
Ji:f.V!(!Jlfr
Signature
Edmund G. Myers
~al1le (Plcase lype or prinl)
Johnson, Duffie, Stewart & Weidner
301 ~IDrket St., P. O. Box 109
Address lJ:moyne, P^ 17043-0109
)~t"II:"ntl"~1J,
(7171 761-4540
Telephone ~o.
c.lpacity:
Personal Represclllatiw
x
Counsel for Personal Represelllatiw
R W .~7
c-'
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