Distribution to a beneficiary-trusts laws and accounts, Financial Accounting

Assignment Help:

Distribution to a beneficiary

Before distribution to a beneficiary, the investments will be re-valued and the profits or losses divided between the beneficiaries as follows:-

  • Capital investments, equally, or according to the terms of the will or trust deed;
  • Accumulation investments, according to the balances on the Income

 

Accumulations Account at the commencement of the year. A beneficiary may be paid out the share due to him in one of the following ways:-

  • Exact division of each investment,
  • Appropriation in specie by agreement and adjusting either way in cash,
  • All investments realised and the amount due to the beneficiary paid to him.

Related Discussions:- Distribution to a beneficiary-trusts laws and accounts

Extent of tests of control, Extent of Tests of Control -Every year AUDITOR ...

Extent of Tests of Control -Every year AUDITOR should obtain sufficient evidence about whether company's internal control over financial reporting, including controls for all inter

Calculate liquidity and balance sheet, Jaedan Industries has the following ...

Jaedan Industries has the following account balances as of December 31, 2010.  The firm's dividend payout ratio is 25% and the tax rate is 34%.  The firm's stock price on December

Binary coded decimal, Binary Coded Decimal BCD stands for Binary Coded ...

Binary Coded Decimal BCD stands for Binary Coded Decimal. The information given to the computer is stored temporarily before it is processed.  Consider a number 827. The bin

measure the initial investment outlay, Home Inc. is considering buying a n...

Home Inc. is considering buying a new piece of equipment, which will cost $715,000 and has an economic life of 5 years, in order to make a new line of product.  The company suppose

Closing entries, Closing Entries: Expenses Below is a list of accounts with...

Closing Entries: Expenses Below is a list of accounts with corresponding ending balances. Account: Account Balance a.Insurance Expense: $1,300 b.Cash: 750 c.Accounts Receivable: 4,

What about a foreign-based multinational corporation, Does a state have the...

Does a state have the authority to require a U.S.-based multinational corporation to compute its state taxable income on a worldwide combined reporting basis? What about a foreign-

Interest is deductible on schedule a, Heather & Terry have a mortgage on th...

Heather & Terry have a mortgage on their primary residence of $750,000 and a mortgage on their vacation home of $410,000. In 2013, they incurred $46,400 of mortgage interest expens

Evaluate weighted average cost of capital, Q. Evaluate Weighted average cos...

Q. Evaluate Weighted average cost of capital? As the investment is an extension of existing activities the risk of the investment will be estimated using the company's current

Calculate the percentage change in equilibrium level, Consider a hypothetic...

Consider a hypothetical banking system in which banks produce only demand deposit accounts. The currency deposit ratio (c) is 30% and the customary cash reserve ratio (r) for deman

Prepare a cash budget, The following information for the six months ended ...

The following information for the six months ended 31 December 2009 relates to the business of Mr N Morris: a) Opening cash (including bank) balance Rs 1,200 b) Productio

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