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Use the information in P 23-3 to prepare a charge-discharge ...


Use the information in P 23-3 to prepare a charge-discharge statement for the estate of George Wilson for the period March 1, 2013 through April 30, 2013. In Problem 3 George Wilson dies on March 1, 2013, leaving a valid will. The will reads as follows: George Wilson, Testator Inventory of Estate Assets As of March 1, 2013 Assets Fair Value Cash-checking………………………………………………$16,500 Cash-savings…………………………………………………50,000 Dividends receivable on stocks……………………………………400 Interest receivable on bonds…………………………………….2,400 Life insurance-payable to the estate………………………..500,000 Personal residence……………………………………………325,000 Household furnishings and personal effects…………………..76,000 2000 Thunderbird Convertible…………………………………21,000 Investments in stocks………………………………………….25,000 Investments in bonds…………………………………………200,000 ……………………………………………………………$1,216,300 The following transactions occurred during March and April: March 25 Dennis pays funeral expenses of $2,800. March 30 Dennis receives a check from the life insurance company for $500,000. April 9 Dennis discovers title to a small parcel of lakefront property in George’s safe deposit box. The title indicates that George purchased the land for $10,000. April 15 A check for $3,000 in bond interest is received. April 19 Dennis receives an appraiser’s report on the lakefront property, valuing it for $28,000. April 28 Dennis pays $13,250 to settle all liabilities of the estate, including property taxes and George’s medical bills. April 29 A check for $500 in stock dividends is received. April 30 Dennis makes all remaining payments and property transfers and closes the estate. View Solution:Use the information in P 23 3 to prepare a charge discharge