Marie Hardy's will has the following provisions: "I leave the cash balance deposited in the First National Bank (up to a total of $50,000) to Jack Abrams. leave $18,000 cash to Suzanne Benton. I leave 1,000 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: $41,000 cash in the First National Bank, $16,000 cash in the New Hampshire Savings and Loan, 800 shares of Coca-Cola stock, 1,100 shares of Xerox stock, a house, and other property valued at $13,000. What distributions will be made from this estate? b. Assume that the estate has the following assets: $55,000 cash in the First National Bank, $6,000 cash in the New Hampshire Savings and Loan, 1,200 shares of Coca-Cola stock, 600 shares of Xerox stock, and other property valued at $22,000. What distributions will be made from this estate? (Make estate distributions in the order mentioned in the question.) a. Cash Cash Coca-Cola stock shares House Other b. Cash Cash Coca-Cola stock shares House Other property
Marie Hardy's will has the following provisions: "I leave the cash balance deposited in the First National Bank (up to a total of $50,000) to Jack Abrams. leave $18,000 cash to Suzanne Benton. I leave 1,000 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: $41,000 cash in the First National Bank, $16,000 cash in the New Hampshire Savings and Loan, 800 shares of Coca-Cola stock, 1,100 shares of Xerox stock, a house, and other property valued at $13,000. What distributions will be made from this estate? b. Assume that the estate has the following assets: $55,000 cash in the First National Bank, $6,000 cash in the New Hampshire Savings and Loan, 1,200 shares of Coca-Cola stock, 600 shares of Xerox stock, and other property valued at $22,000. What distributions will be made from this estate? (Make estate distributions in the order mentioned in the question.) a. Cash Cash Coca-Cola stock shares House Other b. Cash Cash Coca-Cola stock shares House Other property
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Marie Hardy's will has the following provisions:
"I leave the cash balance deposited in the First National Bank (up to a total of $50,000) to Jack Abrams. leave $18,000 cash to
Suzanne Benton. I leave 1,000 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: $41,000 cash in the First National Bank, $16,000 cash in the New Hampshire
Savings and Loan, 800 shares of Coca-Cola stock, 1,100 shares of Xerox stock, a house, and other property valued at $13,000. What
distributions will be made from this estate?
b. Assume that the estate has the following assets: $55,000 cash in the First National Bank, $6,000 cash in the New Hampshire
Savings and Loan, 1,200 shares of Coca-Cola stock, 600 shares of Xerox stock, and other property valued at $22,000. What
distributions will be made from this estate?
(Make estate distributions in the order mentioned in the question.)
a. Cash
Cash
Coca-Cola stock
shares
House
Other
b. Cash
Cash
Coca-Cola stock
shares
House
Other property](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1908dd21-cc72-4760-9c90-35855c870384%2F5271a6c5-94a8-4340-8db0-561078266a6d%2Ff9uvufg_processed.png&w=3840&q=75)
Transcribed Image Text:Marie Hardy's will has the following provisions:
"I leave the cash balance deposited in the First National Bank (up to a total of $50,000) to Jack Abrams. leave $18,000 cash to
Suzanne Benton. I leave 1,000 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: $41,000 cash in the First National Bank, $16,000 cash in the New Hampshire
Savings and Loan, 800 shares of Coca-Cola stock, 1,100 shares of Xerox stock, a house, and other property valued at $13,000. What
distributions will be made from this estate?
b. Assume that the estate has the following assets: $55,000 cash in the First National Bank, $6,000 cash in the New Hampshire
Savings and Loan, 1,200 shares of Coca-Cola stock, 600 shares of Xerox stock, and other property valued at $22,000. What
distributions will be made from this estate?
(Make estate distributions in the order mentioned in the question.)
a. Cash
Cash
Coca-Cola stock
shares
House
Other
b. Cash
Cash
Coca-Cola stock
shares
House
Other property
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