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Personal representatives powers
Personal representation shall have the following powers:1) To enforce for the deceased's estate by suit or otherwise all causes of action that survive the deceased or arise out of his death;
2) To sell all or any of the assets valued in them as they think best; however
3) To assent, at any time after the confirmation of the grant, to the vesting of a specific legacy in the legatee thereof:
4) To appropriate, at any time after confirmation of the grant, any of the assets valid in them in the actual condition or state of investment thereof at the time of appropriation in or towards satisfaction of any legacy bequeathed by the deceased or any other interest or share in estate, whether or not the subject of a continuity trust, as may seem just and reasonable to them according to the respective right to the persons interested in the estate of the deceased and for that purpose to ascertain and fix (with the assistance of a duly qualified valuer, where necessary) the value of the respective assets and liabilities of the estate, and to make any transfer that may be required to give effect to the appropriation.
Inter Company balances One of the companies may appear as receivable (debtor) or payable (creditor) in the other company’s books. Just like in accounting four branches, such in
ABATEMENT OF LEGACIES (a) If the assets, after the payment of debts, necessary expenses and specific legacies, are not sufficient to pay all the general legacies in full, the l
Assets 1) The classification of investments in the Balance Sheet will be under a few broad headings with schedules listing the individual assets. Where the Trustees Act has been
five modern accounting techniques
Heather & Terry have a mortgage on their primary residence of $750,000 and a mortgage on their vacation home of $410,000. In 2013, they incurred $46,400 of mortgage interest expens
Let us assume that you deposit Rs.1000 in a bank that pays 10 percent interest compounded yearly for a period of 3 years. The deposit will grow as given details: Fir
Your friend Peter is planning to set up a new business which will manufacture and sell wooden tables. The parts that make up the table consist of a wooden table top measuring 1m by
Carminho Building Products Ltd (an Australian company) is a client of Rodrigues Accounting (RA). Carminho Building Products Ltd (CBP) is involved in the development, manufacture a
1.what are the various fields of accounting and how do they differ? 2. how are revenues and expenses affect the owners' equity account? 3. why are revenues and expenses recor
Let us assume you expect to obtain Rs.2000 yearly for the next three years. The receipt of Rs.2000 is evenly divided. One part that is: Rs.1000 is obtained at the beginning of the
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