Question 12

Using the table below, Calculate the amount of Realisations Charge Richard Knowsall as Trustee can expect to pay to AFSA.

Assume that all of Skye's divisible assets are realised at their stated dollar values. Such values are exclusive of GST.

Business Assets

Aerobic Wear Inventory $5000

Accounts Receivable- student fee $3500

Accounts Receivable -Student Fees $3,500

Industrial Heating equipment for Hot Yoga

Classes $12,000

Cash $800

Non business assets

Nissan Navara jointly owned by Skye, her husband Tyler and 2children valued at $12,000

nissan navara jointly owned by skye and tyler $13,000

Skye interest in her regulated self-managed

superannuation fund $90,000

Family home valued at 600,000 which is

jointly owned by Skye and Tyler. ANZ holds

a mortgage of 450,000 over the house and

land for which Skye and Tyler are jointly

liable.