A trust document does not define income and principal. The state in which the trust...
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Accounting
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 :
Dividends $2,500
Capital gain 1,500
Tax return preparation fee 200
Trustee fees, all charged to income 100
What is the amount of trust's net accounting income?
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