WNC HOUSING TAX CREDIT FUND II LP
CIK:0000860331|SEC Filings
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Condensed Statements of Operations (Unaudited) (USD $)
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3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
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Sep. 30, 2012
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Sep. 30, 2011
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Sep. 30, 2012
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Sep. 30, 2011
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| Income Statement [Abstract] | ||||
| Reporting fees | $ 6,134 | $ 6,134 | ||
| Distribution income | 500 | |||
| Total operating income | 6,134 | 6,634 | ||
| Operating expenses: | ||||
| Asset management fees (Note 3) | 4,697 | 18,234 | 14,866 | 38,437 |
| Legal and accounting fees | 7,990 | 3,263 | 25,490 | 31,652 |
| Write off of other assets | 8,950 | |||
| Other | 3,226 | 9,549 | 4,650 | 11,287 |
| Total operating expenses | 15,913 | 31,046 | 53,956 | 81,376 |
| Loss from operations | (15,913) | (24,912) | (53,956) | (74,742) |
| Gain on sale of Local Limited Partnerships | 43,312 | 17,004 | 99,132 | 55,928 |
| Interest income | 3 | 2 | 7 | 4 |
| Net income (loss) | 27,402 | (7,906) | 45,183 | (18,810) |
| Net income (loss) allocated to: | ||||
| General Partner | 274 | (79) | 452 | (188) |
| Limited Partners | $ 27,128 | $ (7,827) | $ 44,731 | $ (18,622) |
| Net income (loss) per Partnership Unit | $ 4 | $ (1) | $ 6 | $ (3) |
| Outstanding weighted Partnership Units | 7,000 | 7,000 | 7,000 | 7,000 |
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Condensed Balance Sheets (Unaudited) (USD $)
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Sep. 30, 2012
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Mar. 31, 2012
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|---|---|---|
| ASSETS | ||
| Cash | $ 15,752 | $ 64,478 |
| Investments in Local Limited Partnerships, net (Notes 2 and 3) | ||
| Other assets | 4,167 | 19,405 |
| Total Assets | 19,919 | 83,883 |
| Liabilities: | ||
| Accrued fees and expenses due to General Partner and affiliates (Note 3) | 2,419,691 | 2,528,838 |
| Total Liabilities | 2,419,691 | 2,528,838 |
| Partners’ Deficit: | ||
| General Partner | (81,158) | (81,610) |
| Limited Partners (12,000 Partnership Units authorized;7,000 Partnership Units issued and outstanding) | (2,318,614) | (2,363,345) |
| Total Partners’ Deficit | (2,399,772) | (2,444,955) |
| Total Liabilities and Partners’ Deficit | $ 19,919 | $ 83,883 |