C P a Accounting Theory Questions And Problems volume 2

Cover C P a Accounting Theory Questions And Problems volume 2
C P a Accounting Theory Questions And Problems volume 2
George Hillis Newlove
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25 212. 70 2, 037. 52 6, 748. 65 4. 002. 53 135. 02 270. 04 270. 0-1 Loans Payable .
118. 75 300. 00 $537, 786. 31 Separate the above account into two trial balances showing principal and income. Close Sale of Rights account, and if you observe any discrepancy in the cash correct it.
The trustees are to receive 5 per cent on the gross income for the period as compensation. This is to be divided among them so that "Y" and "Z" each get twice as much as "X. " Pay the loan of $300. Pay the trustees
... the amounts due them. Purchase 20 shares of N. Y. C. Stock at 107% (brokerage Vi) and close the books, showing the income divisible among EXECUTORS, ADMINISTRATORS, AND TRUSTEES 209 the beneficiaries. (Give necessary Cash Book and Journal entries, also Balance Sheet after closing. ) (Mass. , April, 1911. ) G. Prepare Estate and Distribution accounts of Charles Caiinichuel (widower) deceased, September 30, 1912, who left the following property: Life insurance $38, 750 Household effects, appraised 2, 500 Real estate, appraised 37, 500 Bank account 7, 500 Investment securities (market September 30, 1912) 60, 000 $141, 250 Current debts at time of death, $3, 000.

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