Assume the same facts as in Problem 41 with the following modifications The bonds were issued by the Houston (TX) Independent School District The dividend record date was September 3 (not September 5) Kenneths will does not forgive Brads note The business that Brad started with the loan funds was n...

Presuming the school district is solvent this should make no dif ...

Assume the same facts as in Problem 41 with the following modifications. The bonds were issued by

Question:

Assume the same facts as in Problem 41 with the following modifications.

The bonds were issued by the Houston (TX) Independent School District.
The dividend record date was September 3 (not September 5).
Kenneth’s will does not forgive Brad’s note. The business that Brad started with

the loan funds was not successful and is near receivership.

What amount is included in Kenneth’s estate?

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...