Mr Walter died on 1st Dec 2021 leaving the following estates;

bank balance sh496,500

personal paintings sh360,000

freehold building sh2,400,000

7,000 ordinally shares of sh 10@in mmg ltd sh 1,000,000

family bank fixed deposit sh 500,000

interest accrued to date sh4,000

10%treasury bond 4,200,000

debts and funeral expenses sh(104,600)

3,000 ordinally shares @sh10 at Safaricom ltd sh300,000

The extract from the will provided the following;

1.To his wife Jennifer free hold building, personal paintings, ordinally shares of both companies,and any other income arising during the administering of estate and residue of an estate.

2.To his daughter Susan his land at Candy and sum of sh 2,160,000

3.To his sons stephen, Gerand and Seth a sum of sh1,200,000 each

3.To his sister Carol a sum of sh1,000,000

4.To his friend Carlos a sum o sh240,000

5.To his brother Ronald his holdings of sh500,000treasury bond.

The executors ascertained the following;

1. The land at Candy was sold for sh1,500,000 in 2019 and treasury bond was cashed in 2020

2.His sister Carol died in 2018 followed by his son Gerard who died 2019 leaving 2 sons Polycap and John has his beneficiaries

3.the following transactions took place during 3 months period that ended 30th april;

a)on 28th Feb received a dividend of sh10 each for the year ended 31st Dec 2020 of shares of MMG LTD

B)On 31st March received proceeds on the sale of treasury bond for sh4,100,000

c) On 30th April withdrew a balance of sh515,700 from the family bank fixed deposit A/C including interest to the date paid the debt and funeral expenses and distributed all legacies completing the administration of the estate.

REQUIRED;

1. Distribution Statement

2. Estate cashbook A/C

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