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Note 1 - Organization and Summary of Significant Accounting Policies: Revenue Recognition - Deposit Method (Policies)
12 Months Ended
Dec. 31, 2012
Policies  
Revenue Recognition - Deposit Method

Revenue Recognition – Deposit Method

 

Profit on the sale of limited partnership interests shall not be recognized under the full accrual method until all of the following criteria are met:  a sale is consummated, the buyer’s initial and continuing investments are adequate, the seller’s receivable is not subject to future subordination and the risks of ownership have transferred to the buyer.  The Partnership recognizes gains on sale of limited partnership interests using the deposit method when all of the criteria for the full accrual method are not met. Under the deposit method no gain is recognized, no receivable from the buyer is recorded at the closing date and any cash received from the buyer is reported as a deposit liability on the balance sheet. The Partnership continues to carry the investment on its financials at December 31, 2011.