Question
You are auditing an annual Accounting from a VA Fiduciary for the period March 20, 2018 through March 19, 2019. The VA Fiduciary received monthly
You are auditing an annual Accounting from a VA Fiduciary for the period March 20, 2018 through March 19, 2019. The VA Fiduciary received monthly payments in the amount of $2,769.00 from January 1, 2018, through November 1, 2018 and $2,987.00 from December 1, 2018 through March 1, 2019. The VA Fiduciary is also the Rep Payee for the Beneficiarys Social Security benefit and received $850.00 from January 1, 2018 through November 1, 2018 and $901.00 from December 1, 2018 through March 1, 2019. There are approved expenses for the Accounting period of $38,483.48, and the VA Fiduciary is also approved a 4% fee on VA Benefits. Assuming the beginning balance at the beginning of the Accounting period is $10,000.00, please determine the ending balance at the end of the Accounting period.
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