A trust document does not mention the treatment for depreciation. The state has adopted the Uniform Act. The trust document states that depreciation is a charge against corpus. The trust results are the following:
Business net profits $2,000
Rental income 1,000
Depreciation 100
Rent expense 100
Calculate net accounting income.

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The Answer of A trust document does not mention the treatment for depreciation. The state has adopted the Uniform Act. The trust document states that depreciation is a charge against corpus. The trust results are the following:
Business net profits $2,000
Rental income 1,000
Depreciation 100
Rent expense 100
Calculate net accounting income.

A Trust Document Does Not Mention the Treatment for Depreciation