Mario and Luciano decided to structure their restaurant(ABC restaurant) as a unit trust. Their discretionary family trust
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Question:
Mario and Luciano decided to structure their restaurant(ABC restaurant) as a unit trust. Their discretionary family trust will be the two unit holders, holding 50% each of the uniys in the unit trust. Marion is the trustee of his family's discretionary trust and Luciano is the trustee of his family's discretionary trust. Both of these family trusts have already been established.
The trustee of ABC restaurant Unit Trust will be the 'ABC restaurant Pty Ltd)
When each of 2 unitholders paid 125,000 thats currently sitting in their family trust's bank account into the trust's bank account.
How these contributions should be accounted for in the trust's balance sheet?
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