I leave the cash balance deposited in the First National Bank (up to a total of $53,700) to Jack Abrams. I leave $18,100 cash to Suzanne Benton. I leave 1,220 shares of Coca-Cola Company stock to Cindy Cheng. I leave my house to Dennis Davis. I leave all of my other assets and properties to Wilbur N. Ed." a. Assume that the estate has the following assets: $38,000 cash in the First National Bank, $16,900 cash in the New Hampshire Savings and Loan, 930 shares of Coca-Cola stock, 1,390 shares of Xerox stock, a house, and other property valued at $15,000. What distributions will be made from this estate? b. Assume that the estate has the following assets: $58,000 cash in the First National Bank, $6,900 cash in the New Hampshire Savings and Loan, 1,390 shares of Coca-Cola stock, 600 shares of Xerox stock, and other property valued at $25,00O. What distributions will be made from this estate? (Make estate distributions in the order mentioned in the question.) a. Cash Cash shares Coca-Cola stock House Other property b. Cash Cash shares Coca-Cola stock House Other property Prev 1 of 3 Next > MacBook Pro
I leave the cash balance deposited in the First National Bank (up to a total of $53,700) to Jack Abrams. I leave $18,100 cash to Suzanne Benton. I leave 1,220 shares of Coca-Cola Company stock to Cindy Cheng. I leave my house to Dennis Davis. I leave all of my other assets and properties to Wilbur N. Ed." a. Assume that the estate has the following assets: $38,000 cash in the First National Bank, $16,900 cash in the New Hampshire Savings and Loan, 930 shares of Coca-Cola stock, 1,390 shares of Xerox stock, a house, and other property valued at $15,000. What distributions will be made from this estate? b. Assume that the estate has the following assets: $58,000 cash in the First National Bank, $6,900 cash in the New Hampshire Savings and Loan, 1,390 shares of Coca-Cola stock, 600 shares of Xerox stock, and other property valued at $25,00O. What distributions will be made from this estate? (Make estate distributions in the order mentioned in the question.) a. Cash Cash shares Coca-Cola stock House Other property b. Cash Cash shares Coca-Cola stock House Other property Prev 1 of 3 Next > MacBook Pro
Chapter20: Corporations And Parterships
Section: Chapter Questions
Problem 46P
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Transcribed Image Text:I leave the cash balance deposited in the First National Bank (up to a total of $53,700) to Jack Abrams. I leave $18,100 cash to
Suzanne Benton. I leave 1,220 shares of Coca-Cola Company stock to Cindy Cheng. I leave my house to Dennis Davis. I leave all of my
other assets and properties to Wilbur N. Ed."
a. Assume that the estate has the following assets: $38,000 cash in the First National Bank, $16,900 cash in the New Hampshire
Savings and Loan, 930 shares of Coca-Cola stock, 1,390 shares of Xerox stock, a house, and other property valued at $15,000.
What distributions will be made from this estate?
b. Assume that the estate has the following assets: $58,000 cash in the First National Bank, $6,900 cash in the New Hampshire
Savings and Loan, 1,390 shares of Coca-Cola stock, 600 shares of Xerox stock, and other property valued at $25,00O. What
distributions will be made from this estate?
(Make estate distributions in the order mentioned in the question.)
a. Cash
Cash
shares
Coca-Cola stock
House
Other property
b. Cash
Cash
shares
Coca-Cola stock
House
Other property
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