Rusty Nail Died in the Summer of 2011

question 8

Essay

Rusty Nail died in the summer of 2011.The following transactions occurred relating to Rusty's estate.
1.Rusty's estate included a $50,000 Certificate of Deposit.When Rusty died,there was $250 accrued but unpaid interest.When the check was received for the normal semiannual interest payment,it was in the amount of $1,250.
2.Rusty's will requested a specific transfer to the local playhouse in the amount of $20,000.Avery's estate should be adequate to cover all obligations and devises,and the amount is paid.
3.A fee for probate court is paid amounting to $1,400.
4.Funeral expenses are paid amounting to $13,000.
5.A bill is received from the anesthesiologist relating to Rusty's last hospital stay for $22,000.The bill is not covered by insurance,and was not included in the estate inventory.The bill is verified and paid.
Required:
Prepare the journal entries for the listed transactions.Disregard the impact of estate and income taxes.

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Definitions:

Marginal Subcontracting Cost

The additional cost incurred for each unit or batch of production or service delivery that is outsourced to a subcontractor.

Layoff Cost

The expenses associated with terminating employees, including severance pay, benefits continuation, and administrative costs.

Hiring And Training Cost

The expenses associated with recruiting, hiring, and training employees, which include advertising for positions, interviewing, onboarding, and educational programs.

Labor Hours

The total number of hours worked by employees within a specific period, often used to measure productivity or labor costs.