Jack green established the jackson trust by a gift in 1999

Assignment Help Accounting Basics

Reference no: EM13591922

Jack Green established the Jackson Trust by a gift in 1999. The trust instrument requires that the trustee distribute all of the trust income at least annually to Ned Jackson for life. In fact, all the trust income was distributed to Ned Jackson during the year. Under the trust document capital gains are credited to principal. Trustee's fees and estimated tax payments come out of principal for purposes of calculating fiduciary income. The 2012 results of the trust are as follows:

Dividends $20,000

Corporate Bond Interest $30,000

Capital Gains $10,000

Rental Income $30,000

Tax-Exempt Interest $20,000

Trustee's Fee $10,000

Tax Return Preparation Fee $ 1,000

Payment of Estimated Taxes $ 1,500

Rental Expenses $ 5,000

Reference no: EM13591922

Questions Cloud

Finco is a wholly owned finnish manufacturing subsidiary of : finco is a wholly owned finnish manufacturing subsidiary of winco a domestic corporation that manufactures and markets

A 350 ml sample of an unknown hclo4 solution requires 413 : a 35.0 ml sample of an unknown hclo4 solution requires 41.3 ml of 0.102 m naoh for complete neutralization.what was the

Erica is a citizen of a foreign country and is employed by : erica is a citizen of a foreign country and is employed by a foreign-based computer manufacturer. ericas job is to

Decomposition of kclo3 is sometimes used to prepare small : decomposition of kclo3 is sometimes used to prepare small amounts of o2 in the laboratory 2kclo3s 2 kcls 3

Jack green established the jackson trust by a gift in 1999 : jack green established the jackson trust by a gift in 1999. the trust instrument requires that the trustee distribute

List the following compounds in order of increasing lattice : list the following compounds in order of increasing lattice energy from least negative to most negative lii lif cao

The hydroxide reacts with the carbon dioxide to form solid : solid lithium hydroxide is used in space vehicles to remove the carbon dioxide gas exhaled by astronauts. the

Calculate the final temperature of a mixture of 1100 g of : calculate the final temperature of a mixture of 110.0 g of ice initially at -10.5 degrees celcius and 396.0 g of water

Duncan company records all prepayments in income statement : duncan company records all prepayments in income statement accounts. at april 30 the trial balance shows supplies

User Account

All Pages