Commonwealth Income & Growth Fund V (CIGF5) 10-Q 14 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2017shares
Document and Entity Information:
Entity Registrant Name	COMMONWEALTH INCOME & GROWTH FUND V
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Trading Symbol	cigf5
Amendment Flag	false
Entity Central Index Key	1,253,347
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	0
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Incorporation, State Country Name	Commonwealth of Pennsylvania

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current Assets
Cash and cash equivalents	$ 8,267	$ 16,529
Lease income receivable, net of reserve of approximately $10,000 at June 30, 2017 and December 31, 2016	74,503	41,927
Other receivables	20,744	20,754
Prepaid expenses	738	309
Current Assets	104,252	79,519
Net investment in finance leases	50,097	66,789
Equipment, at cost	6,461,045	6,142,862
Accumulated depreciation	(5,639,630)	(5,492,621)
Technology equipment, net	821,415	650,241
Total Assets	975,764	796,549
LIABILITIES
Accounts payable	129,542	127,286
Accounts payable, CIGF, Inc., net	76,654	104,992
Accounts Payable - Commonwealth Capital Corp., net	301,676	249,525
Other accrued expenses	2,981	16,102
Unearned lease income	33,936	27,977
Notes payable	520,033	359,590
Total Liabilities	1,064,822	885,472
PARTNERS' CAPITAL
General Partner	1,000	1,000
Limited Partners	(90,058)	(89,923)
Total Partners' Capital	(89,058)	(88,923)
Total Liabilities and Partners' Capital	$ 975,764	$ 796,549

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Reserve for doubtful lease income receivable	$ 10,000	$ 10,000

Condensed Statements of Operati

Condensed Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue
Lease	$ 158,207	$ 180,044	$ 299,418	$ 357,817
Interest and other	1,132	1,632	2,248	3,462
Gain on sale of equipment	645	22,354	682	35,491
Total revenue and gain on sale of equipment	159,984	204,030	302,348	396,770
Expenses
Operating, excluding depreciation and amortization	32,887	133,252	100,809	225,743
Equipment management fee, General Partner	0	0	0	4,633
Interest	4,272	4,965	8,325	10,298
Depreciation	111,098	136,330	204,212	321,465
Total expenses	148,257	274,547	313,346	562,139
Other income (loss)
Gain from insurance recovery	0	0	10,863	0
Total other income	0	0	10,863	0
Net income (loss)	11,727	(70,517)	(135)	(165,369)
Net income (loss) allocated to Limited Partners	$ 11,727	$ (70,517)	$ (135)	$ (165,369)
Net income (loss) per equivalent Limited Partnership unit	$ 0.01	$ (0.06)	$ 0	$ (0.13)
Weighted average number of equivalent Limited Partnership units outstanding during the period	1,236,608	1,236,608	1,236,608	1,236,608

Condensed Statement of Partners

Condensed Statement of Partners' Capital - 6 months ended Jun. 30, 2017 - USD ($)	General Partners	Limited Partners {1}	Total
Partners' Capital at Dec. 31, 2016	$ 1,000	$ (89,923)	$ (88,923)
Partners' Capital Account, Units at Dec. 31, 2016	50	1,236,608
Net loss		$ (135)	(135)
Partners' Capital at Jun. 30, 2017	$ 1,000	$ (90,058)	$ (89,058)
Partners' Capital Account, Units at Jun. 30, 2017	50	1,236,608

Condensed Statements of Cash Fl

Condensed Statements of Cash Flow - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Statement of Cash Flows [Abstract]
Net cash provided by (used in) operating activities	$ 38,151	$ (47,753)
Cash flows from investing activities
Capital expenditures	(66,344)	(43,799)
Payments received from finance leases	18,731	18,879
Net proceeds from the sale of equipment	1,200	37,371
Net cash (used in) provided by investing activities	(46,413)	12,451
Cash flows from financing activities
Distributions to partners	0	(481)
Net cash used in financing activities	0	(481)
Net increase in cash and cash equivalents	(8,262)	(35,783)
Cash and cash equivalents beginning of period	16,529	51,344
Cash and cash equivalents end of period	$ 8,267	$ 15,561

Business

Business	6 Months Ended
	Jun. 30, 2017
Disclosure Text Block [Abstract]
Business	Commonwealth Income & Growth Fund V (the “Partnership”) is a limited partnership organized in the Commonwealth of Pennsylvania in May 2003. The Partnership offered for sale up to 1,250,000 units of the limited partnership at the purchase price of $20 per unit (the “offering”). The Partnership reached the minimum amount in escrow and commenced operations on March 14, 2005. As of February 24, 2006, the Partnership was fully subscribed. The Partnership used the proceeds of the offering to acquire, own and lease various types of information technology, medical technology, telecommunications technology, inventory management equipment and other similar capital equipment, which is leased primarily to U.S. corporations and institutions. Commonwealth Capital Corp. (“CCC”), on behalf of the Partnership and other affiliated partnerships, acquires equipment subject to associated debt obligations and lease agreements and allocate a participation in the cost, debt and lease revenue to the various partnerships that it manages based on certain risk factors. The Partnership’s investment objective is to acquire primarily high technology equipment. Information technology has developed rapidly in recent years and is expected to continue to do so. Technological advances have permitted reductions in the cost of information technology processing capacity, speed, and utility. In the future, the rate and nature of equipment development may cause equipment to become obsolete more rapidly. The Partnership also acquires high technology medical, telecommunications and inventory management equipment. The Partnership’s general partner will seek to maintain an appropriate balance and diversity in the types of equipment acquired. The market for high technology medical equipment is growing each year. Generally, this type of equipment will have a longer useful life than other types of technology equipment. This allows for increased re-marketability, if it is returned before its economic or announcement cycle is depleted. The Partnership’s General Partner is Commonwealth Income & Growth Fund, Inc. (the “General Partner”), a Pennsylvania corporation which is an indirect wholly owned subsidiary of CCC. Approximately ten years after the commencement of operations (the “operational phase”), the Partnership intended to sell or otherwise dispose of all of its equipment; make final distributions to partners, and to dissolve. The Partnership was originally scheduled to end its operational phase on February 4, 2017. During the year ended December 31, 2015, the operational phase was officially extended to December 31, 2020 through an investor proxy vote. The Partnership is expected to terminate on December 31, 2022. For The General Partner will reassess the funding of limited partner distributions on a quarterly basis, throughout 2017. Liquidity and Going Concern The Partnership has incurred recurring losses and has a working capital deficit at June 30, 2017. The Partnership believes it has alleviated these conditions as discussed below. The General Partner and CCC have committed to fund, either through cash contributions and/or forgiveness of indebtedness, any necessary operational cash shortfalls of the Partnership through June 30, 2018. The General Partner and CCC will also determine if related party payables owed to them by the Partnership may be deferred (if deemed necessary) in an effort to further increase the Partnership’s cash flow. The General Partner will continue to reassess the funding of limited partner distributions throughout 2017 and will continue to waive certain fees if the General Partner determines it is in the best interest of the Partnership to do so. If available cash flow or net disposition proceeds are insufficient to cover the Partnership expenses and liabilities on a short and long term basis, the Partnership may attempt to obtain additional funds by disposing of or refinancing equipment, or by borrowing within its permissible limits. Additionally, the Partnership will seek to enhance portfolio returns and maximize cash flow through the use of leveraged lease transactions: the acquisition of lease equipment through debt financing. This strategy allows the General Partner to acquire additional revenue generating leases thus maximizing overall return. For the six months ended June 30, 2017, the Partnership has acquired approximately $376,000 in equipment, of which approximately $310,000 is leveraged.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Disclosure Text Block [Abstract]
Summary of Significant Accounting Policies	Basis of Presentation The financial information presented as of any date other than December 31, 2016 has been prepared from the books and records without audit. The following unaudited condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Financial information as of December 31, 2016 has been derived from the audited financial statements of the Partnership, but does not include all disclosures required by generally accepted accounting principles to be included in audited financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the financial information for the periods indicated, have been included. Operating results for the six months ended June 30, 2017 are not necessarily indicative of financial results that may be expected for the full year ended December 31, 2017. Disclosure of Fair Value of Financial Instruments Estimated fair value was determined by management using available market information and appropriate valuation methodologies. However, judgment was necessary to interpret market data and develop estimated fair value. Cash and cash equivalents, receivables, accounts payable and accrued expenses and other liabilities are carried at amounts which reasonably approximate their fair values as of June 30, 2017 and December 31, 2016 due to the short term nature of these financial instruments. The Partnership’s long-term debt consists of notes payable, which are secured by specific equipment and are nonrecourse liabilities of the Partnership. The estimated fair value of this debt at June 30, 2017 and December 31, 2016 approximates the carrying value of these instruments, due to the interest rates on the debt approximating current market interest rates. The Partnership classifies the fair value of its notes payable within Level 2 of the valuation hierarchy based on the observable inputs used to estimate fair value. Cash and cash equivalents We consider cash equivalents to be highly liquid investments with the original maturity dates of 90 days or less. At June 30, 2017, cash and cash equivalents was held in two accounts maintained at one financial institution with an aggregate balance of approximately $10,000. Bank accounts are federally insured up to $250,000 by the FDIC. At June 30, 2017, the total cash bank balance was as follows: At June 30, 2017 Balance Total bank balance $ 10,000 FDIC insured (10,000 ) Uninsured amount $ — The Partnership’s bank balances are fully insured by the FDIC. The Partnership deposits its funds with a Moody's Aaa-Rated banking institution which is one of only three Aaa-Rated banks listed on the New York Stock Exchange. The Partnership has not experienced any losses in such accounts, and believes it is not exposed to any significant credit risk. The amount in such accounts will fluctuate throughout 2017 due to many factors, including cash receipts, equipment acquisitions and interest rates. Recent Accounting Pronouncements In October 2016, the FASB issued Accounting Standards Update 2016-17 — Consolidation (Topic 810): Interests Held through Related Parties That Are under Common Control. Recent Accounting Pronouncements Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). Various amendments to ASU No. 2014-09 have been issued, including; ● ASU No. 2016-08 (issued in March 2016) which amends principal versus agent guidance by reframing the indicators in the guidance to focus on evidence that an entity is acting as a principal rather than as an agent; ● ASU No. 2016-10 (issued in April 2016) which amends criteria around licensing and performance obligations; ● ASU No. 2016-12 (issued in May 2016); which provides guidance on assessing collectability, presentation of sales taxes, noncash consideration and completed contracts and contract modifications at transition; and ● ASU No. 2016-20 (issued in December 2016) which contains various technical corrections and improvements to ASU No. 2014-09. In August 2016, the FASB issued Accounting Standards Update 2016-15— Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) Section A—Leases: Amendments to the FASB Accounting Standards Codification® Section B—Conforming Amendments Related to Leases: Amendments to the FASB Accounting Standards Codification® Section C—Background Information and Basis for Conclusions In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities

Information Technology, Medical

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (''Equipment'')	6 Months Ended
	Jun. 30, 2017
Disclosure Text Block [Abstract]
Information and other Technology, Inventory Management Equipment and other Capital Equipment	The Partnership is the lessor of equipment under operating leases with periods that generally will range from 12 to 48 months. In general, associated costs such as repairs and maintenance, insurance and property taxes are paid by the lessee. Remarketing fees are paid to the leasing companies from which the Partnership purchases leases. These are fees that are earned by the leasing companies when the initial terms of the lease have been met. The General Partner believes that this strategy adds value since it entices the leasing company to remain actively involved with the lessee and encourages potential extensions, remarketing or sale of equipment. This strategy is designed to minimize any conflicts the leasing company may have with a new lessee and may assist in maximizing overall portfolio performance. The remarketing fee is tied into lease performance thresholds and is a factor in the negotiation of the fee. Remarketing fees incurred in connection with lease extensions are accounted for as operating costs. Remarketing fees incurred in connection with the sale of equipment are included in the gain or loss calculations. For the six months ended June 30, 2017 and 2016, no remarketing fees were incurred or paid. Gains from the termination of leases are recognized when the lease is modified and terminated concurrently. Gains from lease termination included in lease revenue for the three months ended June 30, 2017 and 2016 were approximately $1,000 and $0, respectively. CCC, on behalf of the Partnership and on behalf of other affiliated companies and partnerships (“partnerships”), acquires equipment subject to associated debt obligations and lease agreements and allocates a participation in the cost, debt and lease revenue to the various companies based on certain risk factors. The Partnership’s share of the cost of the equipment in which it participates with other partnerships at June 30, 2017 was approximately $2,975,000 and is included in the Partnership’s equipment on its balance sheet. The total cost of the equipment shared by the Partnership with other partnerships at June 30, 2017 was approximately $8,826,000. The Partnership’s share of the outstanding debt associated with this equipment at June 30, 2017 was approximately $380,000 and is included in the Partnership’s notes payable on its balance sheet. The total outstanding debt related to the equipment shared by the Partnership at June 30, 2017 was approximately $1,437,000. The Partnership’s share of the cost of the equipment in which it participates with other partnerships at December 31, 2016 was approximately $4,166,000 and is included in the Partnership’s equipment on its balance sheet. The total cost of the equipment shared by the Partnership with other partnerships at December 31, 2016 was approximately $10,453,000. The Partnership’s share of the outstanding debt associated with this equipment at December 31, 2016 was approximately $186,000 and is included in the Partnership’s notes payable on its balance sheet. The total outstanding debt related to the equipment shared by the Partnership at December 31, 2016 was approximately $502,000. As the Partnership and the other programs managed by the General Partner continue to acquire new equipment for the portfolio, opportunities for shared participation are expected to continue. Sharing in the acquisition of a lease portfolio gives the fund an opportunity to acquire additional assets and revenue streams, while allowing the fund to remain diversified and reducing its overall risk with respect to one portfolio. The following is a schedule of approximate future minimum rentals on non-cancellable operating leases at June 30, 2017: For the period ended December Amount Six months ended December 31, 2017 $ 231,000 Year Ended December 31, 2018 243,000 Year Ended December 31, 2019 140,000 Year Ended December 31, 2020 27,000 $ 641,000 Finance Leases: The following lists the approximate components of the net investment in direct financing leases: June 30, 2017 December 31, 2016 Total minimum lease payments to be received $ 36,000 $ 55,000 Estimated residual value of leased equipment (unguaranteed) 17,000 17,000 Less: unearned income (3,000 ) (5,000 ) Net investment in finance leases $ 50,000 $ 67,000 We assess credit risk for all of our customers, including those that lease under finance leases. This credit risk is assessed using an internally developed model which incorporates credits scores from third party providers and our own customer risk ratings and is periodically reviewed. Our internal ratings are weighted based on the industry that the customer operates in. Factors taken into consideration when assessing risk include both general and industry specific qualitative and quantitative metrics. We separately take in to consideration payment history, open lawsuits, liens and judgments. Typically, we will not extend credit to a company that has been in business for less than 5 years or that has filed for bankruptcy within the same period. Our internally based model may classify a company as high risk based on our analysis of their audited financial statements. Additional considerations of high risk may include history of late payments, open lawsuits and liens or judgments. In an effort to mitigate risk, we typically require deposits from those in this category. A reserve for credit losses is deemed necessary when payment has not been received for one or more months of receivables due on the equipment held under finance leases. At the end of each period, management evaluates the open receivables due on this equipment and determines the need for a reserve based on payment history and any current factors that would have an impact on payments. The following table presents the credit risk profile, by creditworthiness category, of our direct finance lease receivables at June 30, 2017: Risk Level Percent of Total Low -% Moderate-Low -% Moderate -% Moderate-High 100 % High -% Net finance lease receivable 100 % As of June 30, 2017 and December 31, 2016, we determined that we did not have a need for an allowance for uncollectible accounts associated with any of our finance leases, as the customer payment histories with us, associated with these leases, has been positive, with no late payments. The following is a schedule of approximate future minimum rentals on non-cancellable finance leases at June 30, 2017: Amount Six months ended December 31, 2017 $ 14,000 2018 20,000 2019 2,000 Total $ 36,000 The Partnership was originally scheduled to end its operational phase on February 4, 2017. During the year ended December 31, 2015, the operational phase was officially extended to December 31, 2020 through an investor proxy vote (see note 1). The Partnership is expected to terminate on December 31, 2022. If the Partnership should terminate, CCC will assume all remaining active leases at their fair market value and related remaining revenue stream and any associated debt obligation for the duration of the remaining lease term.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Disclosure Text Block [Abstract]
Related Party Transactions	Receivables/Payables As of June 30, 2017 and December 31, 2016, the Company’s related party receivables and payables are short term, unsecured and non-interest bearing. Six months ended June 30, 2017 2016 Reimbursable Expenses The General Partner and its affiliates are entitled to reimbursement by the Partnership for the cost of goods, supplies or services obtained and used by the General Partner in connection with the administration and operation of the Partnership from third parties unaffiliated with the General Partner. In addition, the General Partner and its affiliates are entitled to reimbursement of certain expenses incurred by the General Partner and its affiliates in connection with the administration and operation of the Partnership. For the three months ended June 30, 2017 and 2016, the General Partner waived certain reimbursable expenses due to it by the Partnership. For the six months ended June 30, 2017 and 2016, the Partnership was charged approximately $0 and $70,000 in Other LP expense, respectively. $ 93,000 $ 210,000 Equipment Management Fee The General Partner is entitled to be paid for managing the equipment portfolio a monthly fee equal to the lesser of (i) the fees which would be charged by an independent third party for similar services for similar equipment or (ii) the sum of (a) two percent of (1) the gross lease revenues attributable to equipment which is subject to full payout net leases which contain net lease provisions plus (2) the purchase price paid on conditional sales contracts as received by the Partnership and (b) 5% and 2% of the gross lease revenues attributable to equipment which is subject to operating leases, respectively. In an effort to increase future cash flow for the fund our General Partner had elected to reduce the percentage of equipment management fees paid to it from 5% to 2.5% of the gross lease revenues attributable to equipment which is subject to operating leases. The reduction was effective beginning in July 2010 and remained in effect for the six months ended June 30, 2017 and 2016. For the three months ended June 30, 2017, equipment management fees of approximately $4,000 were earned but were waived by the General Partner. $ — $ 5,000

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2017
Disclosure Text Block [Abstract]
Notes Payable	Notes payable consisted of the following approximate amounts: June 30, 2017 December 31, 2016 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $478, including interest, with final payment in February 2017 — 1,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments ranging from $951 to $1,327, including interest, with final payment in March 2017 — 2,000 Installment note payable to bank; interest at 4.85%, due in monthly installments of $922, including interest, with final payment in March 2017 — 3,000 Installment note payable to bank; interest at 1.60%, due in monthly installments of $2,286, including interest, with final payment in May 2017 — 11,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $1,991, including interest, with final payment in June 2017 — 4,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $2,711, including interest, with final payment in May 2017 — 5,000 Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $132 to $663, including interest, with final payment in August 2017 — 4,000 Installment note payable to bank; interest at 4.85%, due in quarterly installments of $1,751, including interest, with final payment in September 2017 2,000 5,000 Installment note payable to bank; interest at 4.88%, due in quarterly installments of $1,852, including interest, with final payment in October 2017 7,000 18,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $9,663, including interest, with final payment in February 2018 28,000 47,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in March 2018 2,000 3,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in April 2018 3,000 5,000 Installment note payable to bank; interest at 4.23% due in quarterly installments of $2,797, including interest, with final payment in June 2018 11,000 16,000 Installment notes payable to bank; interest at 4.23% due in quarterly installments of $458, including interest, with final payment in September 2018 2,000 3,000 Installment notes payable to bank; interest at 6.00% due in monthly installments ranging from $132 to $1,479, including interest, with final payment in September 2018 14,000 22,000 Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $803 to $1,216, including interest, with final payment in February 2019 22,000 29,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments ranging from $296 to $458, including interest, with final payment in October 2018 10,000 13,000 Installment note payable to bank; interest at 4.23% due in quarterly installments of $208, including interest, with final payment in November 2018 1,000 2,000 Installment note payable to bank; interest at 1.80% due in monthly installments of $2,116, including interest, with final payment in February 2019 42,000 54,000 Installment note payable to bank; interest at 1.80% due in monthly installments of $175, including interest, with final payment in March 2019 4,000 5,000 Installment notes payable to bank; interest at 1.80% due in monthly installments ranging from $121 to $175, including interest, with final payment in April 2019 10,000 13,000 Installment note payable to bank; interest at 4.98% due in monthly installments of $2,847, including interest, with final payment in December 2019 80,000 95,000 Installment note payable to bank; interest at 4.47% due in monthly installments of $2,208, including interest, with final payment in February 2019 40,000 — Installment note payable to bank; interest at 5.25% due in quarterly installments of $8,102, including interest, with final payment in December 2019 76,000 — Installment note payable to bank; interest at 4.87% due in quarterly installments of $11,897, including interest, with final payment in January 2020 134,000 — Installment note payable to bank; interest at 5.75% due in monthly installments of $857, including interest, with final payment in November 2020 32,000 — $ 520,000 $ 360,000 These notes are secured by specific equipment with a carrying value of approximately $724,000 as of June 30, 2017 and are nonrecourse liabilities of the Partnership. As such, the notes do not contain any financial debt covenants with which we must comply on either an annual or quarterly basis. Aggregate approximate maturities of notes payable for each of the periods subsequent to June 30, 2017 are as follows: Amount Six months ended December 31, 2017 $ 151,000 Year ended December 31, 2018 218,000 Year ended December 31, 2019 130,000 Year ended December 31, 2020 21,000 $ 520,000 The Partnership was originally scheduled to end its operational phase on February 4, 2017. During the year ended December 31, 2015, the operational phase was officially extended to December 31, 2020 through an investor proxy vote (see note 1). The Partnership is expected to terminate on December 31, 2022. If the Partnership should terminate, CCC will assume the obligation related to any remaining notes payable for the duration of the remaining lease term. During 2015, the General Partner executed a collateralized debt financing agreement on behalf of certain affiliates for a total shared loan amount of approximately $847,000, of which the Partnership’s share was approximately $101,000. The Partnership’s portion of the current loan amount at June 30, 2017 and December 31, 2016 was approximately $37,000 and $55,000, respectively, and is secured by specific equipment under both operating and finance leases. The carrying value of the secured equipment under operating leases at June 30, 2017 and December 31, 2016 is $7,000 and $12,000, respectively. The carrying value of the secured equipment under finance leases at June 30, 2017 and December 31, 2016 is approximately $53,000 and $72,000, respectively.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2017
Disclosure Text Block [Abstract]
Supplemental Cash Flow Information	No interest or principal on notes payable was paid by the Partnership during 2017 and 2016 because direct payment was made by lessee to the bank in lieu of collection of lease income and payment of interest and principal by the Partnership. Other noncash activities included in the determination of net loss are as follows: Six months ended June 30, 2017 2016 Lease revenue net of interest expense on notes payable realized as a result of direct payment of principal by lessee to bank $ 160,000 $ 199,000 Noncash investing and financing activities include the following: Six months ended June 30, 2017 2016 Debt assumed in conjunction with purchase of equipment $ 310,000 $ 118,000 At June 30, 2017 and 2016, the Partnership wrote-off fully amortized acquisition and finance fees of approximately $0 and $6,000, respectively. At June 30, 2017 and 2016, the Partnership wrote-off fully depreciated equipment of approximately $53,000 and $0, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Disclosure Text Block [Abstract]
Commitments and Contingencies	Investor Complaint On November 10, 2015, certain investors (the “Claimants”) of Commonwealth Income & Growth Fund V (“CIGF5”) and Commonwealth Income & Growth Private Fund III (“CIGPF3”) (Collectively referred to as the “Funds”), filed an investor complaint with FINRA naming CCSC and Ms. Springsteen-Abbott (the “Respondents”). The Claimants, at the advice and recommendation of their personal financial advisors, purchased limited partnership units in CIGF5 between February 2005 and February 2006 and in CIGPF3 between April 2005 and February 2007. The Claimants allege that the Respondents did not properly perform their duties as fund manager. The Funds are not members of FINRA and/or subject to its jurisdiction. The Respondents filed a complaint on December 23, 2015, against the Claimants in the United States District Court for the District of Maryland to enjoin the Claimants from proceeding with the arbitration and requiring its dismissal. The Claimants withdrew its complaint with FINRA on July 27, 2016. On August 1, 2016, the Respondents were granted voluntary dismissal in Federal court given the withdrawal of the FINRA claim. On September 28, 2016, 23 investors, in addition to the original Claimants (the “Florida Claimants”) filed a complaint in the United States District Court for the Middle District of Florida, Albers et al. v. Commonwealth Capital Corp. et al., Case No. 6:16-cv-01713-Orl-37DCI, against the Partnership, Commonwealth Income & Growth Private Fund I, Commonwealth Income & Growth Private Fund II, CIGPF3 and CIGF5. The allegation consists of breach of contract, securities fraud, misstatement in the prospectus, fraudulent concealment, negligence, common law fraud (the “Original Complaint”). On October 18, 2016, the judge dismissed the Original Complaint without prejudice with leave to refile. The judge dismissed the Original Complaint for procedural failures. On October 28, 2016, the Florida Claimants filed an amended complaint that included the original claims with the addition of claims for negligent supervision and breach of industry standards (“Amended Complaint’). On July 17, 2017 the United States Court for the Middle District of Florida dismissed all claims and closed the file. FINRA On May 3, 2013, the FINRA Department of Enforcement filed a complaint naming Commonwealth Capital Securities Corp. (“CCSC”) and the owner of the firm, Kimberly Springsteen-Abbott, as respondents; however on October 22, 2013, FINRA filed an amended complaint that dropped the allegations against CCSC and reduced the scope of the allegations against Ms. Springsteen-Abbott. The sole remaining charge was that Ms. Springsteen-Abbott had approved the misallocation of some expenses to certain Funds. Management believes that the expenses at issue include amounts that were proper and that were properly allocated to Funds, and also identified a smaller number of expenses that had been allocated in error, but were adjusted and repaid to the affected Funds when they were identified in 2012. During the period in question, Commonwealth Capital Corp. (“CCC”) and Ms. Springsteen-Abbott provided important financial support to the Funds, voluntarily absorbed expenses and voluntarily waived fees in amounts aggregating in excess of any questioned allocations. That Panel ruled on March 30, 2015, that Ms. Springsteen-Abbott should be barred from the securities industry because the Panel concluded that she allegedly misallocated approximately $208,000 of expenses involving certain Funds over the course of three years. As such, management has allocated approximately $87,000 of the $208,000 in allegedly misallocated expenses back to the affected funds as a contingency accrual in CCC’s financial statements and a good faith payment for the benefit of those Income Funds. Decisions issued by FINRA's Office of Hearing Officers may be appealed to FINRA's National Adjudicatory Council (NAC) pursuant to FINRA Rule 9311. The NAC Decision upheld the Panel’s ruling. The bar took effect on August 23, 2016. Ms. Springsteen-Abbott appealed the NAC Decision to the SEC. On March 31, 2017, the SEC remanded the matter back to FINRA for further consideration consistent with the SEC’s remand, but did not suggest any view as to a particular outcome. On July 21, 2017, FINRA reaffirmed its position on the bar from the securities industry, but reduced the list of 1,840 items totaling $208,000 to a remaining list of 84 items totaling $36,226, and reduced the proposed fine from $100,000 to $50,000. As of August 2, 2017, management believes that final resolution will not result in any material adverse financial impact on the Funds, but no assurance can be provided until the legal matter is resolved. Ms. Springsteen-Abbott has filed a Notice of Appeal with the SEC.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Policy Text Block [Abstract]
Basis of Presentation	The financial information presented as of any date other than December 31, 2016 has been prepared from the books and records without audit. The following unaudited condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Financial information as of December 31, 2016 has been derived from the audited financial statements of the Partnership, but does not include all disclosures required by generally accepted accounting principles to be included in audited financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the financial information for the periods indicated, have been included. Operating results for the six months ended June 30, 2017 are not necessarily indicative of financial results that may be expected for the full year ended December 31, 2017.
Disclosure of Fair Value of Financial Instruments	Estimated fair value was determined by management using available market information and appropriate valuation methodologies. However, judgment was necessary to interpret market data and develop estimated fair value. Cash and cash equivalents, receivables, accounts payable and accrued expenses and other liabilities are carried at amounts which reasonably approximate their fair values as of June 30, 2017 and December 31, 2016 due to the short term nature of these financial instruments. The Partnership’s long-term debt consists of notes payable, which are secured by specific equipment and are nonrecourse liabilities of the Partnership. The estimated fair value of this debt at June 30, 2017 and December 31, 2016 approximates the carrying value of these instruments, due to the interest rates on the debt approximating current market interest rates. The Partnership classifies the fair value of its notes payable within Level 2 of the valuation hierarchy based on the observable inputs used to estimate fair value.
Cash and cash equivalents	We consider cash equivalents to be highly liquid investments with the original maturity dates of 90 days or less. At June 30, 2017, cash and cash equivalents was held in two accounts maintained at one financial institution with an aggregate balance of approximately $10,000. Bank accounts are federally insured up to $250,000 by the FDIC. At June 30, 2017, the total cash bank balance was as follows: At June 30, 2017 Balance Total bank balance $ 10,000 FDIC insured (10,000 ) Uninsured amount $ — The Partnership’s bank balances are fully insured by the FDIC. The Partnership deposits its funds with a Moody's Aaa-Rated banking institution which is one of only three Aaa-Rated banks listed on the New York Stock Exchange. The Partnership has not experienced any losses in such accounts, and believes it is not exposed to any significant credit risk. The amount in such accounts will fluctuate throughout 2017 due to many factors, including cash receipts, equipment acquisitions and interest rates.
Recent Accounting Pronouncements	In October 2016, the FASB issued Accounting Standards Update 2016-17 — Consolidation (Topic 810): Interests Held through Related Parties That Are under Common Control.
Recent Accounting Pronouncements Not Yet Adopted	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). Various amendments to ASU No. 2014-09 have been issued, including; ● ASU No. 2016-08 (issued in March 2016) which amends principal versus agent guidance by reframing the indicators in the guidance to focus on evidence that an entity is acting as a principal rather than as an agent; ● ASU No. 2016-10 (issued in April 2016) which amends criteria around licensing and performance obligations; ● ASU No. 2016-12 (issued in May 2016); which provides guidance on assessing collectability, presentation of sales taxes, noncash consideration and completed contracts and contract modifications at transition; and ● ASU No. 2016-20 (issued in December 2016) which contains various technical corrections and improvements to ASU No. 2014-09. In August 2016, the FASB issued Accounting Standards Update 2016-15— Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) Section A—Leases: Amendments to the FASB Accounting Standards Codification® Section B—Conforming Amendments Related to Leases: Amendments to the FASB Accounting Standards Codification® Section C—Background Information and Basis for Conclusions In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
Table Text Block Supplement [Abstract]
Schedule of Cash and Cash Equivalents	At June 30, 2017 Balance Total bank balance $ 10,000 FDIC insured (10,000 ) Uninsured amount $ —

Information Technology, Medic16

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Tables)	6 Months Ended
	Jun. 30, 2017
Table Text Block Supplement [Abstract]
Schedule of future minimum rentals on non-cancellable operating leases	For the period ended December Amount Six months ended December 31, 2017 $ 231,000 Year Ended December 31, 2018 243,000 Year Ended December 31, 2019 140,000 Year Ended December 31, 2020 27,000 $ 641,000
Net investment in direct financing leases	June 30, 2017 December 31, 2016 Total minimum lease payments to be received $ 36,000 $ 55,000 Estimated residual value of leased equipment (unguaranteed) 17,000 17,000 Less: unearned income (3,000 ) (5,000 ) Net investment in finance leases $ 50,000 $ 67,000
Finance lease risk level	Risk Level Percent of Total Low -% Moderate-Low -% Moderate -% Moderate-High 100 % High -% Net finance lease receivable 100 %
Schedule of future minimum rentals on non-cancelable direct financing leases	Amount Six months ended December 31, 2017 $ 14,000 2018 20,000 2019 2,000 Total $ 36,000

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2017
Table Text Block Supplement [Abstract]
Schedule of Related Party Transactions	Six months ended June 30, 2017 2016 Reimbursable Expenses The General Partner and its affiliates are entitled to reimbursement by the Partnership for the cost of goods, supplies or services obtained and used by the General Partner in connection with the administration and operation of the Partnership from third parties unaffiliated with the General Partner. In addition, the General Partner and its affiliates are entitled to reimbursement of certain expenses incurred by the General Partner and its affiliates in connection with the administration and operation of the Partnership. For the three months ended June 30, 2017 and 2016, the General Partner waived certain reimbursable expenses due to it by the Partnership. For the six months ended June 30, 2017 and 2016, the Partnership was charged approximately $0 and $70,000 in Other LP expense, respectively. $ 93,000 $ 210,000 Equipment Management Fee The General Partner is entitled to be paid for managing the equipment portfolio a monthly fee equal to the lesser of (i) the fees which would be charged by an independent third party for similar services for similar equipment or (ii) the sum of (a) two percent of (1) the gross lease revenues attributable to equipment which is subject to full payout net leases which contain net lease provisions plus (2) the purchase price paid on conditional sales contracts as received by the Partnership and (b) 5% and 2% of the gross lease revenues attributable to equipment which is subject to operating leases, respectively. In an effort to increase future cash flow for the fund our General Partner had elected to reduce the percentage of equipment management fees paid to it from 5% to 2.5% of the gross lease revenues attributable to equipment which is subject to operating leases. The reduction was effective beginning in July 2010 and remained in effect for the six months ended June 30, 2017 and 2016. For the three months ended June 30, 2017, equipment management fees of approximately $4,000 were earned but were waived by the General Partner. $ — $ 5,000

Notes Payable (Tables)

Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2017
Table Text Block Supplement [Abstract]
Notes Payable	June 30, 2017 December 31, 2016 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $478, including interest, with final payment in February 2017 — 1,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments ranging from $951 to $1,327, including interest, with final payment in March 2017 — 2,000 Installment note payable to bank; interest at 4.85%, due in monthly installments of $922, including interest, with final payment in March 2017 — 3,000 Installment note payable to bank; interest at 1.60%, due in monthly installments of $2,286, including interest, with final payment in May 2017 — 11,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $1,991, including interest, with final payment in June 2017 — 4,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $2,711, including interest, with final payment in May 2017 — 5,000 Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $132 to $663, including interest, with final payment in August 2017 — 4,000 Installment note payable to bank; interest at 4.85%, due in quarterly installments of $1,751, including interest, with final payment in September 2017 2,000 5,000 Installment note payable to bank; interest at 4.88%, due in quarterly installments of $1,852, including interest, with final payment in October 2017 7,000 18,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $9,663, including interest, with final payment in February 2018 28,000 47,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in March 2018 2,000 3,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in April 2018 3,000 5,000 Installment note payable to bank; interest at 4.23% due in quarterly installments of $2,797, including interest, with final payment in June 2018 11,000 16,000 Installment notes payable to bank; interest at 4.23% due in quarterly installments of $458, including interest, with final payment in September 2018 2,000 3,000 Installment notes payable to bank; interest at 6.00% due in monthly installments ranging from $132 to $1,479, including interest, with final payment in September 2018 14,000 22,000 Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $803 to $1,216, including interest, with final payment in February 2019 22,000 29,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments ranging from $296 to $458, including interest, with final payment in October 2018 10,000 13,000 Installment note payable to bank; interest at 4.23% due in quarterly installments of $208, including interest, with final payment in November 2018 1,000 2,000 Installment note payable to bank; interest at 1.80% due in monthly installments of $2,116, including interest, with final payment in February 2019 42,000 54,000 Installment note payable to bank; interest at 1.80% due in monthly installments of $175, including interest, with final payment in March 2019 4,000 5,000 Installment notes payable to bank; interest at 1.80% due in monthly installments ranging from $121 to $175, including interest, with final payment in April 2019 10,000 13,000 Installment note payable to bank; interest at 4.98% due in monthly installments of $2,847, including interest, with final payment in December 2019 80,000 95,000 Installment note payable to bank; interest at 4.47% due in monthly installments of $2,208, including interest, with final payment in February 2019 40,000 — Installment note payable to bank; interest at 5.25% due in quarterly installments of $8,102, including interest, with final payment in December 2019 76,000 — Installment note payable to bank; interest at 4.87% due in quarterly installments of $11,897, including interest, with final payment in January 2020 134,000 — Installment note payable to bank; interest at 5.75% due in monthly installments of $857, including interest, with final payment in November 2020 32,000 — $ 520,000 $ 360,000
Aggregate maturities of notes payable	Amount Six months ended December 31, 2017 $ 151,000 Year ended December 31, 2018 218,000 Year ended December 31, 2019 130,000 Year ended December 31, 2020 21,000 $ 520,000

Supplemental Cash Flow Inform19

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2017
Table Text Block Supplement [Abstract]
Other noncash activities	Six months ended June 30, 2017 2016 Lease revenue net of interest expense on notes payable realized as a result of direct payment of principal by lessee to bank $ 160,000 $ 199,000
Noncash investing and financing activities	Six months ended June 30, 2017 2016 Debt assumed in conjunction with purchase of equipment $ 310,000 $ 118,000

Business (Details)

Business (Details)	6 Months Ended
	Jun. 30, 2017
Text Block [Abstract]
Entity Incorporation, State Country Name	Commonwealth of Pennsylvania

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Details)	Jun. 30, 2017USD ($)
Text Block [Abstract]
Total bank balance	$ 10,000
FDIC insured	(10,000)
Uninsured amount	$ 0

Information Technology, Medic22

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details)	Jun. 30, 2017USD ($)
Text Block [Abstract]
Six months ended December 31, 2017	$ 231,000
Year Ended December 31, 2018	243,000
Year Ended December 31, 2019	140,000
Year Ended December 31, 2020	27,000
Total	$ 641,000

Information Technology, Medic23

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details 1) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Text Block [Abstract]
Total minimum lease payments to be received	$ 36,000	$ 55,000
Estimated residual value of leased equipment (unguaranteed)	17,000	17,000
Less: unearned income	(3,000)	(5,000)
Net investment in finance leases	$ 50,000	$ 67,000

Information Technology, Medic24

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details 2)	Jun. 30, 2017
Text Block [Abstract]
Low	0.00%
Moderate-Low	0.00%
Moderate	0.00%
Moderate-High	100.00%
High	0.00%
Net finance lease receivable	100.00%

Information Technology, Medic25

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details 3)	Jun. 30, 2017USD ($)
Text Block [Abstract]
Six months ended December 31, 2017	$ 14,000
2,018	20,000
2,019	2,000
Total	$ 36,000

Information Technology, Medic26

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Text Block [Abstract]
Remarketing Fees Incurred	$ 0	$ 0
Equipment Shared	2,975,000		$ 4,166,000
Total Shared Equipment	8,826,000		10,453,000
Debt Shared	380,000		186,000
Outstanding Debt Total	$ 1,437,000		$ 502,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Text Block [Abstract]
Other LP Expense	$ 0	$ 70,000
Reimbursable Expenses	93,000	210,000
Equipment Management Fees waived related to operating leases, Affiliate	4,000
Equipment Management Fee	$ 0	$ 5,000

Notes Payable (Details)

Notes Payable (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Long-term Debt, Gross	$ 520,000	$ 360,000
Note 1
Debt Instrument, Description	Installment note payable to bank; interest at 4.23%, due in quarterly installments of $478, including interest, with final payment in February 2017
Long-term Debt, Gross	$ 0	1,000
Note 2
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23%, due in quarterly installments ranging from $951 to $1,327, including interest, with final payment in March 2017
Long-term Debt, Gross	$ 0	2,000
Note 3
Debt Instrument, Description	Installment note payable to bank; interest at 4.85%, due in monthly installments of $922, including interest, with final payment in March 2017
Long-term Debt, Gross	$ 0	3,000
Note 4
Debt Instrument, Description	Installment note payable to bank; interest at 1.60%, due in monthly installments of $2,286, including interest, with final payment in May 2017
Long-term Debt, Gross	$ 0	11,000
Note 5
Debt Instrument, Description	Installment note payable to bank; interest at 4.23%, due in quarterly installments of $1,991, including interest, with final payment in June 2017
Long-term Debt, Gross	$ 0	4,000
Note 6
Debt Instrument, Description	Installment note payable to bank; interest at 4.23%, due in quarterly installments of $2,711, including interest, with final payment in May 2017
Long-term Debt, Gross	$ 0	5,000
Note 7
Debt Instrument, Description	Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $132 to $663, including interest, with final payment in August 2017
Long-term Debt, Gross	$ 0	4,000
Note 8
Debt Instrument, Description	Installment note payable to bank; interest at 4.85%, due in quarterly installments of $1,751, including interest, with final payment in September 2017
Long-term Debt, Gross	$ 2,000	5,000
Note 9
Debt Instrument, Description	Installment note payable to bank; interest at 4.88%, due in quarterly installments of $1,852, including interest, with final payment in October 2017
Long-term Debt, Gross	$ 7,000	18,000
Note 10
Debt Instrument, Description	Installment note payable to bank; interest at 4.23%, due in quarterly installments of $9,663, including interest, with final payment in February 2018
Long-term Debt, Gross	$ 28,000	47,000
Note 11
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in March 2018
Long-term Debt, Gross	$ 2,000	3,000
Note 12
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in April 2018
Long-term Debt, Gross	$ 3,000	5,000
Note 13
Debt Instrument, Description	Installment note payable to bank; interest at 4.23% due in quarterly installments of $2,797, including interest, with final payment in June 2018
Long-term Debt, Gross	$ 11,000	16,000
Note 14
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23% due in quarterly installments of $458, including interest, with final payment in September 2018
Long-term Debt, Gross	$ 2,000	3,000
Note 15
Debt Instrument, Description	Installment notes payable to bank; interest at 6.00% due in monthly installments ranging from $132 to $1,479, including interest, with final payment in September 2018
Long-term Debt, Gross	$ 14,000	22,000
Note 16
Debt Instrument, Description	Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $803 to $1,216, including interest, with final payment in February 2019
Long-term Debt, Gross	$ 22,000	29,000
Note 17
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23%, due in quarterly installments ranging from $296 to $458, including interest, with final payment in October 2018
Long-term Debt, Gross	$ 10,000	13,000
Note 18
Debt Instrument, Description	Installment note payable to bank; interest at 4.23% due in quarterly installments of $208, including interest, with final payment in November 2018
Long-term Debt, Gross	$ 1,000	2,000
Note 19
Debt Instrument, Description	Installment note payable to bank; interest at 1.80% due in monthly installments of $2,116, including interest, with final payment in February 2019
Long-term Debt, Gross	$ 42,000	54,000
Note 20
Debt Instrument, Description	Installment note payable to bank; interest at 1.80% due in monthly installments of $175, including interest, with final payment in March 2019
Long-term Debt, Gross	$ 4,000	5,000
Note 21
Debt Instrument, Description	Installment notes payable to bank; interest at 1.80% due in monthly installments ranging from $121 to $175, including interest, with final payment in April 2019
Long-term Debt, Gross	$ 10,000	13,000
Note 22
Debt Instrument, Description	Installment note payable to bank; interest at 4.98% due in monthly installments of $2,847, including interest, with final payment in December 2019
Long-term Debt, Gross	$ 80,000	95,000
Note 23
Debt Instrument, Description	Installment note payable to bank; interest at 4.47% due in monthly installments of $2,208, including interest, with final payment in February 2019
Long-term Debt, Gross	$ 40,000	0
Note 24
Debt Instrument, Description	Installment note payable to bank; interest at 5.25% due in quarterly installments of $8,102, including interest, with final payment in December 2019
Long-term Debt, Gross	$ 76,000	0
Note 25
Debt Instrument, Description	Installment note payable to bank; interest at 4.87% due in quarterly installments of $11,897, including interest, with final payment in January 2020
Long-term Debt, Gross	$ 134,000	0
Note 26
Debt Instrument, Description	Installment note payable to bank; interest at 5.75% due in monthly installments of $857, including interest, with final payment in November 2020
Long-term Debt, Gross	$ 32,000	$ 0

Notes Payable (Details 1)

Notes Payable (Details 1)	Jun. 30, 2017USD ($)
Text Block [Abstract]
Six months ended December 31, 2017	$ 151,000
Year ended December 31, 2018	218,000
Year ended December 31, 2019	130,000
Year ended December 31, 2020	21,000
Long-term Debt	$ 520,000

Notes Payable (Details Narrativ

Notes Payable (Details Narrative)	Jun. 30, 2017USD ($)
Text Block [Abstract]
Carrying Value - Equipment - Notes Payable	$ 724,000

Supplemental Cash Flow Inform31

Supplemental Cash Flow Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Text Block [Abstract]
Lease revenue net of interest expense on notes payable realized as a result of direct payment of principal by lessee to bank	$ 160,000	$ 199,000

Supplemental Cash Flow Inform32

Supplemental Cash Flow Information (Details 1) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Text Block [Abstract]
Debt assumed in connection with purchase of equipment	$ 310,000	$ 118,000