Schedule Filed by an Executor
Schedule Filed by an Executor
EXERCISE
7. George Williams died on March 5th, bequeathing his entire property, after payment of all debts and funeral expenses, to the following beneficiaries: George Williams, Jr., one-fifth; John Williams, one-fifth; Fred Williams, one-fifth; Mary Williams, three-tenths; and George Robinson, one-tenth.
The inventory filed by his executors was as follows:
| Stocks and bonds | $4,000.00 |
| Mortgages | 6,000.00 |
| Wearing apparel | 100.00 |
| Cash in bank | 40.00 |
There are two executors, and their transactions are as follows:
| Cash Receipts | |
| Stocks and bonds sold | 3,341.00 |
| Mortgages realized | 4,656.00 |
| Wearing apparel sold | 50.00 |
| Dividends collected on stocks and bonds | 1,800.00 |
| Interest collected on mortgages | 2,400.00 |
| Interest received on deposits in bank | 100.00 |
| Real estate sold | 1,000.00 |
| Rents collected | 720.00 |
| Cash in bank at decease, withdrawn | 40.00 |
| 14,107.00 | |
| Cash Disbursements | |
| Funeral expenses | 30.00 |
| Expenses of probate | 200.00 |
| General legal expenses | 400.00 |
| Repairs to building | 220.00 |
| Stationery, postage, etc. | 10.00 |
| Accountant's fee | 80.00 |
| Debts of deceased | 500.00 |
| Taxes | 800.00 |
| Insurance | 10.00 |
| George Williams, Jr., on account of legacy | 2,200.00 |
| John Williams, on account of legacy | 2,500.00 |
| Fred Williams, on account of legacy | 2,220.00 |
| Mary Williams, on account of legacy | 3,100.00 |
| George Robinson, on account of legacy | 960.00 |
| 13,230.00 | |
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