A trust document does not define income and principal.The state in which the trust is operated has adopted the Uniform Act.The trust reports the following:
$\begin{array}{ll}
\text { Dividenids }&\$2,500\
\text { Capital gain } & 1,500 \
\text { Taxreturn preparation fee } & 200 \
\text { Trustee fees, all charged to income } & 100
\end{array}$ What is the amount of trust's net accounting income?

Question

A trust document does not define income and principal.The state in which the trust is operated has adopted the Uniform Act.The trust reports the following:
 $\begin{array}{ll}
\text { Dividenids }&\$2,500\
\text { Capital gain } & 1,500 \
\text { Taxreturn preparation fee } & 200 \
\text { Trustee fees, all charged to income } & 100
\end{array}$ What is the amount of trust's net accounting income?

Quizplus · Accepted Answer

The Answer of A trust document does not define income and principal.The state in which the trust is operated has adopted the Uniform Act.The trust reports the following:
 $\begin{array}{ll}
\text { Dividenids }&\$2,500\
\text { Capital gain } & 1,500 \
\text { Taxreturn preparation fee } & 200 \
\text { Trustee fees, all charged to income } & 100
\end{array}$ What is the amount of trust's net accounting income?

A Trust Document Does Not Define Income and Principal What Is the Amount of Trust's Net Accounting Income