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Investment with cum.div. Quotation
Investment with cum.div. Quotation will be debited to the investment account at its full value. When the dividend is subsequently received it is apportioned:
The amount apportioned to capital should be transferred out of the Investment Account (thus maintaining the investment at its probate value) and credited to Estate Capital Account.
Example Date of death: 30th June, 20X5
Stock: 6% Treasury Stock
Interest paid: 1st March
30th September
Holding: Shs 2m quoted at 94-96
Nominal Income Capital Nominal Income Capital
20X5 Sh'000 Sh'000 Sh'000 20X5 Sh'000 Sh'000 Sh'000
June Estate Sept Estate
30 Capital 30 Cash
Account Book
(stock (interest
at pre-death) 30
death) 2,000 1,890
Sept post-death 30
30 Estate
Capital
Account 30
Acquisition during the financial period The holding company may acquire the subsidiary company partway through the financial period such that as at the balance sheet date, the
a recommendation regarding the current south African vat system
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Do liabilities fall under debtors
PROOF OF DEBTS The following rules apply as to the proving of debts: 1) A creditor has no right to vote or receive dividends until his debt is proved to the satisfaction of th
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