Estate and Legacy Duties were paid on March 31st, and the debts, funeral expenses and legacies were also paid on the same date. Executorship expenses amounting to £250 were paid on June 14th.
On the last day of each month such portion of the cash balance as was available in round thousands was placed on deposit at 3%.
Prepare Residuary Account as at June 30th, 1914, and state the duties payable on the Residue.
PROBLEM No. 34.
Referring to the two preceding Problems, prepare an Account to be rendered by the Executors to the Residuary Beneficiaries, showing the realisation and distribution of the Estate, the final payment to the Residuary Beneficiaries taking place on July 1st, 1914.