Use information from E 23-6 to prepare a charge and discharge statement for the trust for the period September 15, 2015 through December 31, 2015.
In E23-6
September 15 Open the Sooner XXV trust account, depositing the $100,000 transferred from the estate of Jeff Carpenter.
September 16 Deposit the $100,000 into an insured money market fund earning 5 percent annually, in accordance with the trust agreement.
October 16 Deposit $417 interest received from the money market fund into the trust checking account.
October 19 Write a $300 check to Puppy Paradise to cover Sooner's November room and board costs. Costs to November 1 had been prepaid by the estate.
October 27 Write a check for $22 to cover chew toys for Sooner.
November 16 Deposit $417 interest received from the money market fund into the trust checking account.
November 22 Write a $300 check to Puppy Paradise to cover Sooner's December room and board costs.
December 16 Deposit $417 interest received from the money market fund into the trust checking account.
December 28 Puppy Paradise informs you of Sooner's passing. Pay $700 for Sooner's funeral and burial costs.
December 31 Pay yourself the agreed $100 trust administration fee.
December 31 Distribute all remaining trust principal by transferring the title to the money market fund and cash to J. J. Kara.
Prepare charge and discharge statement for the Sooner XXV trust