Apportionment-executorship laws and accounts, Financial Accounting

Assignment Help:

APPORTIONMENT

(a) The purpose of the apportionment rules
The purpose of the various rules of apportionment is to provide a fair and reasonable basis for dividing certain items between the conflicting interests of the life tenant and the remainderman.

The rules may be considered under the following three headings;

  • Statutory apportionments;
  • Variation of securities;
  • Equitable apportionments.

 

(b) Statutory apportionments
Where income has been received in respect of a period which "bridges" the date of a death, it must be apportioned between the two parts of the period on a time basis. This applies to all rents, annuities, dividends and similar items.


Related Discussions:- Apportionment-executorship laws and accounts

Calculate interest rate forecasting, Assume that we are in December 2009 an...

Assume that we are in December 2009 and try to make forecasts of the five year interest rate at the end of January 2010. For this question , you just need to fill out the blank s

Evaluate the value of non-controlling interest, The additional 20% purchase...

The additional 20% purchase by RBE results is enhancing in the controlling interest held in the subsidiary, DCA. No additional goodwill is calculated on the additional purchase as

Partnership accounting, How does ordinary shares and preference shares incl...

How does ordinary shares and preference shares included in the account

Concepts in accounting, Mr. Inherits 30000. Decides to open a salon jj salo...

Mr. Inherits 30000. Decides to open a salon jj salon. On 1/4/2016 commits 10000 to the business Opens an a/c in the bank What will be the money under capital in his books on 1/4/10

Explain the favorable variance, Question: The manager of Ben and Jerry's Ic...

Question: The manager of Ben and Jerry's Ice Cream is told that the direct material quantity variance for cherries in Cherries Garcia Ice cream is favorable. What could explain thi

Determine the net present value for the project, An investment project requ...

An investment project requires a net investment of $100,000. The project is expected to generate annual net cash inflows of $28,000 for the next 5 years. The firm's cost of capital

What is the interest receivable and interest revenue, Journalize the entrie...

Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January. Date Face Amount Term Interest Rate 5. Nov. 15 $54,000 60days 6% 6. Dec. 27 $40,500

Condition of joint return, Surviving Spouse - This is a person whose wife o...

Surviving Spouse - This is a person whose wife or husband died during tax year. A surviving spouse can file a JOINT RETURN for the year in which death occurred. Additionally a join

Google, how do i find info about google inc

how do i find info about google inc

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd