Question
Betty Bloome died on February 28, 20X5. The following trial balance was prepared by the executor of Betty's estate as of October 31, 20X5: As
Betty Bloome died on February 28, 20X5. The following trial balance was prepared by the executor of Betty's estate as of October 31, 20X5:
| As to Principal | As to Income | ||
Cash--Principal | $ 75,000 |
|
|
|
Cash--Income |
|
| $21,000 |
|
Corporation Stock | 150,000 |
|
|
|
Assets Subsequently |
|
|
|
|
Discovered. |
| $ 17,000 |
|
|
Loss on Realization of |
|
|
|
|
Principal Assets | 3,000 |
|
|
|
Funeral and Administrative |
|
|
|
|
Expense | 9,000 |
|
|
|
Debts of Decedent Paid | 14,000 |
|
|
|
Legacies Distributed | 20,000 |
|
|
|
Devises Distributed | 10,000 |
|
|
|
Estate Principal |
| 264,000 |
|
|
Expenses Chargeable |
|
|
|
|
Against Income |
|
| $ 2,000 |
|
Distributions to Income |
|
|
|
|
Beneficiaries |
|
| 7,000 |
|
Estate Income |
|
|
| 30,000 |
| $281,000 | $281,000 | $30,000 | $30,000 |
Required:
Prepare a charge and discharge statement as of December 31, 20X5.
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