Exam (elaborations)
TAX3703 ASSIGNMENT 2 OF 2021
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- University Of South Africa (Unisa)
Guranteed distinction
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TAX 3703 ECP assignment 2 R1 Heading
First and final liquidation and distribution account in the joint estate of the late Francie Naude
(ID 640126 0027 086) and Jan Naude (ID 620116 0064 084), married in community of property and
residing at 20 Rose Ave, Lynnwood, Pretoria. The deceased died on 30 August 2020.
Master’s reference number 153/01/2020.
2 Liquidation account
Assets reduced to cash R 975,800.00
Fixed deposit R 900,000.00
Cash in current account R 75,800.00
Assets not reducced to cash R 4,835,000.00
Residential home R 3,460,000.00
Property in KZN R 690,000.00
Motor vehicle R 205,000.00
Listed shares R 480,000.00
Total assets R 5,810,800.00
Liabilities R 256,752.00
Advertisements R 3,560.00
Valuation fees R 6,000.00
Funeral costs R 26,234.00
SARS tax liability R 10,580.00
Masters fees R 7,000.00
Executors remuneration R 203,378.00 R 203,378.00
Estate duty R -
Amount available for distribution R 5,554,048.00
3 Distribution account
Amount available for distribution R 5,554,048.00
Assets distributable to Phindi R 4,866,548.00
one half of the estate due to the marriage ICOP R 2,777,024.00
Residential home R 1,730,000.00
Cash (residue) R 359,524.00
Assets distributable to Akani R 345,000.00
Property in KZN R 345,000.00
Assets distributable to Siya R 342,500.00
Motor vehicle R 102,500.00
Listed shares R 240,000.00
R 5,554,048.00
4 Recapitulation account
Cash available for distribution- please refer to the Liquid acc R 975,800.00
Less liabilities R 256,752.00
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