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The intestate leaves no spouse but children
The net estate devolves upon the surviving children and is divided equally between them. If any child has not, at the time of intestate's death, reached his majority, his share of property will be held in trust until he reaches the age of 18 years or, in the case of a female until she marries under that age.Example:
Mr A dies intestate; his wife Mrs A died some years ago. Mr A is survived by his sons B (22 years old) and C (18 years only). His daughter is at school; she is not yet married. His net estate is worth Shs.3m. How will his property be divided?It will be divided equally between B, C and D. D's share will be held in trust see Chapter 8) until she reaches the age of 18 years, or until she marries, if she marries before she reaches the age of 18. If a child of the deceased intestate predeceases him, but leaves his or her own issue (i.e. children, grandchildren, etc.), then the issue take, through degrees, in equal shares, the share which their parent would have taken had he not pre-deceased the intestate (PER STIRPES RULE).
practical problems of chapter one of company accounts
Star Corporation issued both common and preferred stock during 19X6. The stockholders' equity sections of the company's balance sheets at the end of 19X6 and 19X5 follow.
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Common stocks A, B, C, and D had the following quarterly returns. A B C D 0.07 0.05 0.07 0.12
Whereas dividend may be of prime significance to some equity shareholders, this may not be so for the other shareholders. Several shareholders may be interested in receiving a usua
Define the term Relevance - accounting information Accounting information should have the ability to influence decisions. Except this characteristic is present, there is ac
given the following information: cash-171,100 accounts receivable-9400 prepaid studio rent-3000 unexpired insurance-7200 supplies-500,equipment-18,000 accumulated depreciation-7200
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