Question: USE THE FOLLOWING INFORMATION FOR PROBLEMS 4 THROUGH 8 A simple trust has one income beneficiary. Its accounting income is $9,000, including $6.000 taxable interest,

USE THE FOLLOWING INFORMATION FOR PROBLEMS 4 THROUGH 8 A simple trust has one income beneficiary. Its accounting income is $9,000, including $6.000 taxable interest, $4,000 exempt interest, and $1,000 administration expense. No other trust activities occurred during the year. The beneficiary received from the trust: a. $6,000. b. $8,700. c. $9,000. d. $10,000. 4. The deduction allowable to the trust for administration expense is: a. $0. b. $400. c. $600. d. $1,000. -5. 6. Distributable net income is a. $6,000 b. $7,100. c. $9,000. d. $10,000 The trust's deduction for distributions to beneficiaries is: a. $5,100. b. $5,400 c. $5,600. d. $7,100. e. $9,000. 7. 8. Taxable income of the trust is: a. ($300). b. $ c. $1,000 $5,000

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