Opinion ID: 1245955
Heading Depth: 2
Heading Rank: 3

Heading: Debt Owed To John

Text: Patricia contends that the trial court should have included in the marital estate a $40,000 debt owed by Heggen Equipment, Inc., to John for a loan he made to the corporation. Although both accountants testified that the corporation owed $40,000 to John which is carried upon the corporate books as a liability, John's accountant testified that it was not John's intention to treat the debt as equity. Thus, John argues that the debt is nothing more than a paper transaction for accounting purposes and does not represent real value. The trial court issued no finding of fact regarding this loan. It did not include it as a personal asset in John's column nor can we discern from the record whether it was included as part of the corporate liability. On remand, we instruct the trial court to consider this matter and determine the value of the corporate debt to John and the marital estate.