Kenny died intestate on 31 August 2013, and is survived only by his wife Selina, to whom he was married out of community of property, without the accrualsystem. Selina, who is not registered for VAT, was appointed as executrix. You are approached to administer the estate, and you find the following:

1. A farm: "WINDMILL", on which a bona fide farming undertaking is carried on which is registered in both their names and which has been valued by an appraiser at R2 600 000,00; 2. Their farm implements with a total value of R180 000,00 are coowned with Selina;

3. The deceased is the owner of a house, valued at R450 000,00. This house has been let to Kenny's brother Jack in terms of a 5year lease, which commenced on 1 April 2009. Rental of R30 000,00 per annum is payable six months in advance;

4. The furniture and household effects, which Selina brought into the marriage, are valued at R150 000,00; 5. A motor vehicle registered in the deceased's name and valued at R130 000,00;

6. The deceased's 1000 shares in BBA Ltd, a company listed on the JSE, which are valued by a stockbroker as at the date of death at R170 000,00. A dividend of R20 per share is declared and paid on 1 October 2013;

7. Shares in CHASE (Pty) Ltd in the deceased's name, whose market value as at the date of death was R250 000,00 and were sold in the course of liquidation for R375 000,00;

8. A joint cheque account with GO Bank, with a credit balance of R250 000,00 as at 31 August 2013;

9. The deceased had an investment account recovered in the amount of R430 000,00 (included in the amount of R430 000,00 was interest to the amount of R20 000,00 up to 31 August 2013 as well as interest in the amount of R10 000,00 for the period 1 September 2013 to date of signature of the Estate Account);

10. Proceeds of Sanlam life insurance policy on the deceased's life payable to Selina as the nominated beneficiary in the amount of R50 000,00;

11. Policy proceeds of Liberty Life Insurance in the amount of R825 000,00 are paid to the executrix, after deduction by the insurance company of a loan against the policy in the amount of R15 000,00;

12. Kenny was a member of his employer's pension fund, which provides for a lump sum payment of R500 000,00 to Selina after his death;

13. There is a mortgage bond registered over the house in favour of ABC Bank with an outstanding balance owing to the bank in the amount of R95 000,00;

14. R60 000,00 is still owing to Stanic Bank for the financing of the motor vehicle. Total liabilities: including funeral expenses and administration expenses, amount to R390 000,00.Draft the Liquidation and Distribution Account but prepare only the Liquidation Account and Estate Duty Addendum. Specify the necessary expenses and ignore VAT.Kenny died intestate on 31 August 2013, and is survived only by his wife Selina, to whom he was married out of community of property, without the accrualsystem. Selina, who is not registered for VAT, was appointed as executrix. You are approached to administer the estate, and you find the following:

1. A farm: "WINDMILL", on which a bona fide farming undertaking is carried on which is registered in both their names and which has been valued by an appraiser at R2 600 000,00; 2. Their farm implements with a total value of R180 000,00 are coowned with Selina;

3. The deceased is the owner of a house, valued at R450 000,00. This house has been let to Kenny's brother Jack in terms of a 5year lease, which commenced on 1 April 2009. Rental of R30 000,00 per annum is payable six months in advance;

4. The furniture and household effects, which Selina brought into the marriage, are valued at R150 000,00; 5. A motor vehicle registered in the deceased's name and valued at R130 000,00;

6. The deceased's 1000 shares in BBA Ltd, a company listed on the JSE, which are valued by a stockbroker as at the date of death at R170 000,00. A dividend of R20 per share is declared and paid on 1 October 2013;

7. Shares in CHASE (Pty) Ltd in the deceased's name, whose market value as at the date of death was R250 000,00 and were sold in the course of liquidation for R375 000,00;

8. A joint cheque account with GO Bank, with a credit balance of R250 000,00 as at 31 August 2013;

9. The deceased had an investment account recovered in the amount of R430 000,00 (included in the amount of R430 000,00 was interest to the amount of R20 000,00 up to 31 August 2013 as well as interest in the amount of R10 000,00 for the period 1 September 2013 to date of signature of the Estate Account);

10. Proceeds of Sanlam life insurance policy on the deceased's life payable to Selina as the nominated beneficiary in the amount of R50 000,00;

11. Policy proceeds of Liberty Life Insurance in the amount of R825 000,00 are paid to the executrix, after deduction by the insurance company of a loan against the policy in the amount of R15 000,00;

12. Kenny was a member of his employer's pension fund, which provides for a lump sum payment of R500 000,00 to Selina after his death;

13. There is a mortgage bond registered over the house in favour of ABC Bank with an outstanding balance owing to the bank in the amount of R95 000,00;

14. R60 000,00 is still owing to Stanic Bank for the financing of the motor vehicle. Total liabilities: including funeral expenses and administration expenses, amount to R390 000,00.Draft the Liquidation and Distribution Account but prepare only the Liquidation Account and Estate Duty Addendum. Specify the necessary expenses and ignore VAT.