1. Statement of all amounts expended by the executor for funeral and other necessary expenses, together with the receipts for, and objects of, such expenditures.
2. Statement of the date when the executor caused a notice for claimant to present claims against the estate to be published, together with order, notice, and proof of publication herewith filed, to which the executor refers as a part of his account.
1. Statement of all claims of creditors allowed by executor or disputed by him, for which a judgment or decree has been rendered, with the names of the claimants, nature of claim, amount and date of judgment.
2. Statement of all money paid to creditors of the deceased, with names and time of payment.
1. Statement of all money paid to legatees, widow, or next of kin, of the deceased.
1. Statement of names of all persons entitled—as widow, legatee, and next of kin, of the deceased—to a share of his estate, with place of residence, degree of relationship, and statement as to which are minors, whether they have a general guardian, and if so, the name and place of residence to the best of the executor's knowledge, information, and belief.
1. Statement of all other facts affecting the administration of said estate, executor's rights, and those of others interested.
These schedules provide all the material from which to make the account proper. In his account, the executor charges himself as follows:
With amount of inventory $_________ With amount of increase as per schedule A _________ With amount of income as per schedule A _________ _________ Total debits _________
With amount of losses on sales as per schedule B $_________ With debts not collected as per schedule B _________ With articles mentioned in inventory lost, schedule B _________ With funeral expenses and other expenses, schedule C _________ With money paid creditors, schedule D _________ With money paid to legatees, widow, or next of kin, schedule E _________ Total credits $_________ Balance _________ Add articles unsold _________ Add debts not collected _________ _________ Total to be distributed _________
=3.= The devising of forms of trust and executory accounts offers a wide scope for the application of accounting knowledge. Many intricate problems arise in the interpretation of details of the trust and in the apportionment of sums received, between capital and revenue. Broadly, these accounts are prepared in one of two forms: (a) An account of charge and discharge; (b) in the form of regular ledger accounts. As has been intimated, legal requirements are complied with by the first form, but the second form is preferable. When ledger accounts are kept on the double entry plan, the fullest information can be obtained about the condition of the trust at any time, and from these accounts, the account of charge and discharge or any form required by the court can be made for each period.