Executor's fees and court costs for settling an estate usually
A. Are adjustments to the principal of the estate.
B. Are ignored.
C. Are adjustments to the income of the estate.
D. Must be apportioned between the principal and the income of the estate.
E. Are subtracted from life insurance proceeds.
Answer: D
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The calendar year-end adjusted trial balance for Blessinger Co. follows:BLESSINGER CO.Adjusted Trial BalanceDecember 31Cash$ 112,000?Accounts receivable27,000?Prepaid rent15,000?Prepaid Insurance9,000?Office supplies3,300?Office equipment38,000?Accumulated depreciation-Equipment?$3,200Building288,000?Accumulated depreciation-Building?42,000Land700,000?Accounts payable?25,800Salaries payable?14,500Interest payable?2,500Long-term note payable?72,000Common stock?200,000Retained earnings?710,000Dividends200,500?Service fees earned?430,800Salaries expense90,000?Insurance expense5,200?Rent expense5,000?Depreciation expense-Equipment800?Depreciation expense-Building7,000?Totals$1,500,800$1,500,800Required:(a) Determine the amounts of current assets
and current liabilities. (Note: A $9,000 installment on the long-term note payable is due within one year.)(b) Calculate the current ratio. Comment on the ability of Blessinger Co. to meets its short-term debts. What will be an ideal response?
The early literature on management was not written researchers, but instead by management practitioners, who attempted to describe ______.
a. classical management theory b. basic principles c. current developments d. principles of efficiency
All of the following statements about the no-need objection are true EXCEPT that a:
A. no-need objection may also include a stalling objection. B. no-need objection may be overcome with autosuggestion. C. salesperson may trigger a no-need objection by giving a poor sales presentation. D. salesperson may be able to overcome the no-need objection by asking questions. E. no-need objection may also include a hidden objection.
A debt backed by some physical asset other than land, such as machinery, equipment, or inventory, is termed ________.
A. chattel mortgage loan B. intermediate-term security C. trade credit D. preferred equity