13 silvia peacock has been appointed to serve as the executor of the estate of mr mi 4307302

13 silvia peacock has been appointed to serve as the executor of the estate of mr mi 4307302

13) Silvia Peacock has been appointed to serve as the executor of the estate of Mr. Mickey Babay, who passed away at the age of 104 on April 5, 2011. On April 5, 2011, Mr. Babay's assets consisted of the following:

Asset

Book Value

Fair Value

Cash

$40,000

$40,000

Mutual fund investment

170,000

170,000

Selonoid Incorporated common stock

22,000

28,000

Ford Mustang

24,000

16,000

Condo in Phoenix, AZ

120,000

150,000

Residence in Boston, MA

150,000

280,000

Stamp collection

4,900

8,000

Salt and pepper shaker collection

1,500

4,000

Rare hand puppet collection

2,300

6,700

The probate court has ruled that any other personal effects may be excluded from Mr. Babay's estate inventory.

Required:

Prepare an inventory of estate assets on April 5, 2011.

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