1. Two trustees collect in one year an income of $36,000.00 for a beneficiary, the expense being $3,000.00. If each trustee receives an equal share, what commission will be paid to each, and what sum shall be paid to the beneficiary? Ans. Each trustee, $275.00; beneficiary, $3,275.00. 2. Executor X collects of the corpus of an estate $30,000.00, executor Y collects $40,000.00. Together they pay out $55,000.00. Commissions are to be divided in proportion to the amount collected by each. What commission will each receive and what is the net amount to be paid to the residuary legatee? Ans. Commissions: X, $381.43; Y, $508.57. Residuary legatee, $14,110.00. 3. Four trustees collect and pay out of an estate $350,000.00, the total debts of the estate being $135,000.00. What commission will each trustee receive? Ans. $2,767.50. SAMPLE ACCOUNTS =6.= Following are the transactions and accounts of David Brown, executor of the estate of Henry Snow, deceased. For keeping the accounts, the journal, cash book, and ledger are the books used. June 1, 1908 Henry Snow died this day, naming David Brown _executor_. —3— Estate inventoried and appraised as follows: Cash in bank $390.50 Mortgages 5,000.00 R. R. stocks $5,000.00 appraised @ 112 $5,600.00 Household furniture 1,000.00 Debtors to the estate Henry Alton $160.00 J. L. Lawrence 52.00 D. Pringle 75.00 F. D. Smith 84.50 371.50 ------- Interest accrued on mortgages $5,000.00 —5 mo. @ 5% 104.16 Accrued dividends on stock estimated at 3% semi-annual, payable July 1st—5 mo. accrued 137.50 --------- 12,603.66 —30— Approved the following claims: Dr. Knight bill 200.00 Funeral expenses—Undertaker 250.00 Henry Cole account 62.00 H. Dawson account 17.00 Probate expenses 100.00 —30— Additional assets discovered Geo. Smith owes the estate 50.00 July 1 Collected 6 mo. interest on mortgage at 5% 250.00